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1102 Springwater Avenue

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1102 Springwater Avenue

1102 Springwater Ave, Wenatchee, WA 98801
Retail For Sale Available Built 1997 1 floors Zoning: NWBD
Asking Price
$4,870,000
Total Building97,509 SF
Land248,728 SF land
MarketChelan County
CountyChelan

Read Overview
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Overview

Property ID
306564
Listing ID
710638
Type
Retail
Asset Class
Retail
Zoning
NWBD

Description

FOR SALE: TARGET - $4.87M - $50/SF - LOW RENT - NNN - WENATCHEE, WAThe only full-size Target within 150 miles, offered at $50/SF on an absolute NNN lease. Target exercised a new 5-year option extension through September 2031 with three additional options remaining. In-place rent of $2.43/SF/YR is significantly below market with upside at expiration. The property anchors Valley North Center, the #1 shopping center in a 50-mile radius and a top 10% performer nationwide with 3.5M annual visits.Highlights:• Absolute NNN• Fortune 50 credit, rated A/A2/A• Only full-size Target within 150 miles• New 5-year lease extension through September 2031• 3 remaining options with 10% rent bumps each — cap rate grows to 6.64% by 2046• Below-market rent at $2.43/SF• Fee simple land ownership, 5.71

Listing Courtesy of:

BS
Billy Sleeth
Newmark
1420 5th Ave. Ste. 2600,
Seattle, WA 98101
State: WA City: Wenatchee ZIP: 98801 Type: For Sale

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Disclaimer: The information contained in this listing has not been verified by Muljat Commercial and should be verified by the buyer.