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Southgate Center 905 S 2nd Ave 32,695 SF 22% Leased Retail Building Walla Walla, WA 99362 $2,795,000 ($85.49/SF) 3.69% Cap Rate
Executive Summary
This property is located in a well-established part of the Walla Walla community with neighborhood business located in the complex.
5,422 SF of this shopping center is leased to two long-term tenants, and 3,735 SF to short-term tenants, providing day one revenue.
The remaining complex offers 24,304 SF of vacant space currently demised into 3 spaces for a combination of owner occupied and/or tenant spaces.
Historically this shopping center has been anchored by a long-term grocery store tenant who has chosen to retire.
This property is ready for the next generation of ownership to create a viable real estate income investment.
5,422 SF of this shopping center is leased to two long-term tenants, and 3,735 SF to short-term tenants, providing day one revenue.
The remaining complex offers 24,304 SF of vacant space currently demised into 3 spaces for a combination of owner occupied and/or tenant spaces.
Historically this shopping center has been anchored by a long-term grocery store tenant who has chosen to retire.
This property is ready for the next generation of ownership to create a viable real estate income investment.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Building Size
32,695 SF
Building Class
C
Year Built
1950
Price
$2,795,000
Price Per SF
$85.49
Cap Rate
3.69%
NOI
$103,071
Percent Leased
22%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
2.94 AC
Zoning
Highway Commercial
Bike Score®
Biker's Paradise (90)
Nearby Major Retailers
Property Taxes
| Parcel Number | 360729420121 | Improvements Assessment | $966,300 |
| Land Assessment | $527,500 | Total Assessment | $1,493,800 |
Property Taxes
Parcel Number
360729420121
Land Assessment
$527,500
Improvements Assessment
$966,300
Total Assessment
$1,493,800
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Southgate Center | 905 S 2nd Ave
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