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Listed by Nicholas R Mayer Almon Commercial-Residential Real Estate
$ 2,541,637
Est. payment /mo
Active
512 W 1st St Wapato, WA 98951
22,400 SqFt
UPDATED:
Key Details
Property Type Other Types
Sub Type Commercial Property
Listing Status Active
Purchase Type For Sale
Square Footage 22,400 sqft
Price per Sqft $113
MLS Listing ID 26-658
Year Built 1976
Annual Tax Amount $8,602
Tax Year 2026
Lot Size 2.000 Acres
Acres 2.0
Property Sub-Type Commercial Property
Land Area 22400
Property Description
THIS OFFERING presents the opportunity to acquire a stabilized retail investment featuring a thriving grocery store operating under a long-term NNN lease. The current lease term extends for ten years and includes four consecutive five-year renewal options, providing investors with durable, long-term income stability. The tenant is a well-established regional operator with an investment-grade credit profile and a proven operating history at this location, as well as ownership and operation of seven additional grocery stores throughout Washington State.
The investment is offered at an attractive 7.9% cap rate and includes an additional adjoining tax parcel combining for approximately 116,740 square feet. The primary parcel consists of approximately 82,328 square feet and is zoned B-1 (Neighborhood Business District), while the adjacent parcel is just under one acre at approximately 34,412 square feet and is zoned M-1 (Light Industrial), providing flexibility for future use, expansion, or ancillary development.
Strategically positioned at one of the Lower Yakima Valley's most prominent and highly trafficked intersections -- West 1st Street and U.S. Highway 97 -- the property benefits from exceptional visibility, strong daily vehicle counts, and established retail synergy. Surrounding national and regional tenants include O'Reilly Auto Parts, McDonald's, DaVita Dialysis, and the nearby Wolf Den retail hub, reinforcing the location's role as a dominant neighborhood and commuter-oriented retail destination.
With its combination of long-term contractual income, strong tenant credit, high-exposure location, and additional land component offering future upside, this asset represents a compelling opportunity for investors seeking secure cash flow with long-term growth potential and rental escalations.
The investment is offered at an attractive 7.9% cap rate and includes an additional adjoining tax parcel combining for approximately 116,740 square feet. The primary parcel consists of approximately 82,328 square feet and is zoned B-1 (Neighborhood Business District), while the adjacent parcel is just under one acre at approximately 34,412 square feet and is zoned M-1 (Light Industrial), providing flexibility for future use, expansion, or ancillary development.
Strategically positioned at one of the Lower Yakima Valley's most prominent and highly trafficked intersections -- West 1st Street and U.S. Highway 97 -- the property benefits from exceptional visibility, strong daily vehicle counts, and established retail synergy. Surrounding national and regional tenants include O'Reilly Auto Parts, McDonald's, DaVita Dialysis, and the nearby Wolf Den retail hub, reinforcing the location's role as a dominant neighborhood and commuter-oriented retail destination.
With its combination of long-term contractual income, strong tenant credit, high-exposure location, and additional land component offering future upside, this asset represents a compelling opportunity for investors seeking secure cash flow with long-term growth potential and rental escalations.
Location
State WA
Area 13L - Wapato
Zoning B1 - Prof Bus, M1 - Light Indus
Direction South on Hwy. 97 East on W 1st St. Property on left.
Interior
Heating Forced Air
Cooling Central Air
Flooring Concrete
Heat Source Forced Air
Exterior
Roof Type Built-Up
Building
Foundation Concrete Perimeter
Sewer Connected
Water Public
Structure Type Brick,Block
Others
Tax ID 191110-43027, 43042
Nearby Locations