$614,460

616 S 2nd St

Yakima WA, 98901

Description

THIS OFFERING is for the opportunity to purchase an affordable single-tenant net leased industrial property with a new 5-year lease intentionally signed at a below market rent commencing 8/1/19. The existing tenant, All Metal Solutions, a local custom metal fabrication shop, has occupied the building since 5/26/16.The lease was intentionally structured to create a simple, transparent sale opportunity that limits risk to an investor while providing both for a likely simple, quick sale offering at an offered price being at or below fair market value. The advertised NOI calculation includes both a 5% vacancy factor and 2% capital replacement reserve subtracted from the gross annual income. Asking price equates to an 8 cap.

Details

MLS#19-1827
StyleIndustrial
Sub-TypeResale
StatusActive
Year1970
Days On Site58

Features

SQ Feet12,022
Story(s)0
ZoningC - Commercial

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Area Information

StateWA
CityYakima
Zip Code98901
Area1B - SE Yakima
Listing VS Median (in 98901)
Price:
$614,460
low | high
Med:
$109,900
100% of Average
SqFt:
12,022
low | high
Med:
938
100% of Average
$ / SqFt:
$51
low | high
Med:
$117
79.233434429261% of Average
On Site:
58
low | high
Med:
53
100% of Average
Listing Updated: 09/19/2019
MLS Number: 19-1827
Listing Provided By:
Bill Almon, Jr  of  Almon Commercial-Residential Real Estate
RETS