Description
THIS OFFERING is for the opportunity to acquire a recently stabilized retail strip center with some upside potential.Located at the significant controlled intersection of 16th Ave and Summitview Ave, the center includes a popular restaurant that's been in place since 2004 as the anchor tenant and has a good mix of local and regional tenants, plus includes a small warehouse and pair of 1 bed/1 bath nicely updated apartments on the 2nd floor. Seller is leasing back the warehouse and one of the apartments for 3 years following closing. Upside potential is mostly administrative in nature and can be accessed by raising rents, which are significantly below market, and reconciling CAM's (seller has not reconciled as allowed by most of the leases, rather follows the scheduled amounts budgeted within the leases).
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0BEDS
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1.23ACRES
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0BATHS
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01/2 BATHS
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17,512SQFT
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$0$/SQFT
School Ratings & Info
Description
THIS OFFERING is for the opportunity to acquire a recently stabilized retail strip center with some upside potential.Located at the significant controlled intersection of 16th Ave and Summitview Ave, the center includes a popular restaurant that's been in place since 2004 as the anchor tenant and has a good mix of local and regional tenants, plus includes a small warehouse and pair of 1 bed/1 bath nicely updated apartments on the 2nd floor. Seller is leasing back the warehouse and one of the apartments for 3 years following closing. Upside potential is mostly administrative in nature and can be accessed by raising rents, which are significantly below market, and reconciling CAM's (seller has not reconciled as allowed by most of the leases, rather follows the scheduled amounts budgeted within the leases).
© 2023 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 Candy Lea Stump | Keller Williams Yakima Valley. Data last updated: 2023-09-22T23:48:54.657.