Net Leased Investment Offering

Investment Overview

THIS OFFERING is for the opportunity to purchase a fully occupied net leased multi-tenant investment property consisting of a pair of retail/office suites on the main level and a pair of office/medical suites on the lower level. This highly recognizable building is located on downtown Yakima’s primary commercial arterial with access from two arterials and visibility from three. It’s anchored by The Haberdasher, an established high-end men’s clothing boutique that’s been in the building since 2001 and recently extended their lease to have more than 10 years remaining. Leases are signed at or below market with an average rental rate of approximately $10.82/SF, NNN, which results in a below market sale price at only approximately $129/SF that in turn provides for future upside and immediate downside protection, making this a safe, attractive investment offering.

Investment Highlights

• Highly recognizable and prominent building on downtown Yakima’s primary commercial arterial with more than 16,700 vehicles passing by.
• Primary lease in the building to Steve Goodwin the Haberdasher has more than 10 years of term remaining and has been in the building since 2001.
• All leases have 2%/year escalations.
• Minimal landlord responsibilities within the leases that include structural repairs and replacement of the roof, HVAC and parking lot.
• The property includes plentiful parking that exceeds municipal requirements.
• Rare opportunity to acquire an investment grade offering where the capitalization rate does not manipulate the sale price above market.