5110 Tieton Dr - Storefront Retail/Office FOR SALE


Yakima, WA 98908
$4,200,000 USD
509-563-5117
5110 Tieton Dr, Yakima, WA for Sale
$4,200,000 USD
Storefront Retail/Office - FOR SALE
1/47
null | 4.9% Cap Rate

5110 Tieton Dr
Yakima, WA 98908


HIGHLIGHTS

  • One of a kind prize commercial investment property

OVERVIEW

Glenwood Square is a one-of-a-kind, prize commercial property that any investor would want in their portfolio. It has more than a 20 year track record of successful operation in the heart of Yakima. To say it's at the 'core' of the city is an appropriate statement since it was once was an active apple warehouse that was refurbished in 1999 to accommodate mixed use retail, office and restaurant space. Currently, it is home to Zesta Cucina and Tacquerias Xochimilco, two of Yakima's most popular destination restaurants, both are long term tenants with Zesta being in place since the building's inception and Xochimilco since 2013. The Pub of Yakima, a craft beer and arcade harbor, has been there since 2015. Each of these adds color and culture to the environment and a steady flow of fresh patrons on a daily basis. While Covid has had its impact on these mainstays, all are operating well at present and on target to reach greater sales volumes in 2022. Other tenants report steady activity as well and there are definitely more square feet of available space at Glenwood that, once leased, would improve a buyer's cap rate on the purchase price for this property. In fact, pre-Covid Net Operating Income of Glenwood Square would put the current sale price at 6% cap rate and there is certainly ample opportunity to achieve that level again in the near term. Additional financial opportunity exists in a movie/media theatre located on the 2nd floor with ticket booth already in place for special events or regular entertainment. Glenwood Square is located directly across the street from the largest Catholic Church in Yakima County and centered in West Valley which is the highest income per household zip code in the metro area.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$78 USD /SF

CAP RATE

4.9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Glenwood Shopping Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1945

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

2.32 AC

LAND SF

101,059 SF

ZONING

M1

APN/PARCEL ID

181328-12403

ASK ABOUT THIS PROPERTY

Chris PaulingBerkshire Hathaway Home ServicesMore Info
509-563-5117

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Chris PaulingBerkshire Hathaway Home ServicesMore Info
509-563-5117

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.