Skip To Content

1115 W Lincoln Ave

Yakima, WA 98902
  • $1,378,000
  • STATUS: Active
  • ON SITE: 18 Days
  • MLS #: 24-229
$1,378,000
  • 0
    BEDS
  • 0.78
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 12,669
    SQFT
  • $109
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1999

School Ratings & Info

Description

THIS OFFERING is for the opportunity to purchase an underperforming multi-tenant investment property at an affordable price and with a relatively simple path to capturing upside through administrative and/or cosmetic facade and signage value-add methods.That path includes continuing current ownership's recent trend of signing leases on triple-net terms with an emphasis on transitioning to more traditional professional office tenants that are compatible and that provide good co-synergy. While four of the nine existing leases are triple-net and signed at or near fair market rents, the remaining five are semi-gross in nature and are at signed at significantly below market rents. The property is currently fully occupied with a blend of office and retail tenants, however, Cristo Marantha is not renewing their lease that expires September of 2024 and that space is currently on the market at $11/SF, NNN, as compared to the currently scheduled $7.79/SF, NNN, that this offering is based upon, which provides for either an owner/user opportunity to occupy that space or upside by re-tenanting and materially increasing the net operating income.

Monthly Payment Calculator



© 2024 Yakima Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Yakima MLS© IDX Program. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Kate Soldano Group | Keller Williams Yakima Valley. Data last updated: 2024-03-01T23:48:59.8.
www.thekatesoldanogroup.com/homes/147560829
Print Image

1115 W Lincoln Ave Yakima, WA 98902

  • Price: $1,378,000
  • Status: Active
  • On Site: 18 Days
  • MLS #: 24-229
0
Beds
0
Baths
0
½ Baths
0.78
Acres
12,669
SQFT
$109
$/SQFT
1999
Built
Neighborhood:
1A - Ne Yakima
Area:
1A - Ne Yakima
Property Description
THIS OFFERING is for the opportunity to purchase an underperforming multi-tenant investment property at an affordable price and with a relatively simple path to capturing upside through administrative and/or cosmetic facade and signage value-add methods.That path includes continuing current ownership's recent trend of signing leases on triple-net terms with an emphasis on transitioning to more traditional professional office tenants that are compatible and that provide good co-synergy. While four of the nine existing leases are triple-net and signed at or near fair market rents, the remaining five are semi-gross in nature and are at signed at significantly below market rents. The property is currently fully occupied with a blend of office and retail tenants, however, Cristo Marantha is not renewing their lease that expires September of 2024 and that space is currently on the market at $11/SF, NNN, as compared to the currently scheduled $7.79/SF, NNN, that this offering is based upon, which provides for either an owner/user opportunity to occupy that space or upside by re-tenanting and materially increasing the net operating income.
Exterior Features

Construction Frame Lot Depth Feet 0.00 Lot Front Feet 0.00 Lot Size .76 - 1.0 Acres Roof Built-Up

Interior Features

Air Conditioning Central Air Basement None Heating Forced AirGas

Property Features

Commercial Type Commercial Property Detail Use Office Building List Price Description Total List Price Main Use Office Sewage System Connected Tax Designation None Tax Year 2024 Taxes 11474.00 Water Public Water Zoning C - Commercial

Listing provided courtesy of Bill Almon, Jr of Almon Commercial-Residential Real Estate: (509) 966-3800.


© 2024 Yakima Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Yakima MLS© IDX Program. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Kate Soldano Group | Keller Williams Yakima Valley. Data last updated: 2024-03-01T23:48:59.8.
 
https://bt-photos.global.ssl.fastly.net/yakima/1280_boomver_1_24-229-2.jpg https://bt-photos.global.ssl.fastly.net/yakima/1280_boomver_1_24-229-2.jpg https://bt-photos.global.ssl.fastly.net/yakima/1280_boomver_1_24-229-2.jpg
Logo
The Kate Soldano Group | Keller Williams Yakima Valley
1017 S 40th Ave
Yakima WA, 98908