1236 Ahtanum Ridge Dr

    Union Gap, WA 98903
    • $3,040,000
    • STATUS: Active
    • ON SITE: 14 days
    • MLS #: 19-715
    $3,040,000
    • 0
      BEDS
    • 1.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 11,528
      SQFT
    • $264
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    2004

    School Ratings & Info

    Description

    THIS OFFERING is for the opportunity to acquire a two-tenant net leased investment anchored by DaVita, who the building was originally constructed for in 2004 on a build-to-suit basis (and expanded onto in 2017, at which time the DaVita lease was extended for 10 years).DaVita occupies 65% of the building and is paying below market rent. Their lease provides for annual CPI escalations not to exceed 3% and provides for the ability to pass through operating expenses of a capital nature. Additionally, they're committed to this location given that Washington state is a Certificate of Need state and the dialysis stations are tied to this specific property, which in turn shifts considerable leverage to the landlord. The balance of the building is finished as traditional office space,having originally been built on speculation. It was originally leased to a regional software company and then to a regional fruit brokerage. If not leased by closing, the seller will lease the space back for a period of 3 years following closing at below market rent and will provide personal guarantees. The property is well-located in a tremendous professional and retail growth area, specifically being at the entrance to a vibrant, growing office park (DaVita specifically chose this location and was the first to locate within the park) and is near the retail hotbed area of the greater Yakima Valley. Significant nearby and adjacent projects have recently been completed or are underway, including Holiday Inn Express, WinCo, Department of Ecology, a federally occupied multi-agency governmental building, a Dodge/Chrysler/Jeep dealership and others.

    Monthly Payment Calculator

    © 2019 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 Heritage Moultray Real Estate Services, LLC.. Data last updated: 2019-04-19T23:48:37.9.
    www.heritagemoultray.com/homes/93430208

    1236 Ahtanum Ridge Dr Union Gap, WA 98903

    • Price: $3,040,000
    • Status: Active
    • MLS #: 19-715
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.35
    Acres
    11,528
    SQFT
    $264
    $/SQFT
    2004
    Built
    Neighborhood:
    12 - Union Gap
    Area:
    12 - Union Gap
    Property Description
    THIS OFFERING is for the opportunity to acquire a two-tenant net leased investment anchored by DaVita, who the building was originally constructed for in 2004 on a build-to-suit basis (and expanded onto in 2017, at which time the DaVita lease was extended for 10 years).DaVita occupies 65% of the building and is paying below market rent. Their lease provides for annual CPI escalations not to exceed 3% and provides for the ability to pass through operating expenses of a capital nature. Additionally, they're committed to this location given that Washington state is a Certificate of Need state and the dialysis stations are tied to this specific property, which in turn shifts considerable leverage to the landlord. The balance of the building is finished as traditional office space,having originally been built on speculation. It was originally leased to a regional software company and then to a regional fruit brokerage. If not leased by closing, the seller will lease the space back for a period of 3 years following closing at below market rent and will provide personal guarantees. The property is well-located in a tremendous professional and retail growth area, specifically being at the entrance to a vibrant, growing office park (DaVita specifically chose this location and was the first to locate within the park) and is near the retail hotbed area of the greater Yakima Valley. Significant nearby and adjacent projects have recently been completed or are underway, including Holiday Inn Express, WinCo, Department of Ecology, a federally occupied multi-agency governmental building, a Dodge/Chrysler/Jeep dealership and others.
    Exterior Features

    Lot Depth Feet 0.00 Lot Front Feet 0.00 Lot Size 1+ - 5.0 Acres Roof Built-Up Siding Stucco

    Interior Features

    Heating Forced AirGas

    Property Features

    Commercial Type Commercial Property Detail Use Medical Office List Price Description Total List Price Main Use Office Sewage System Connected Sq Ft Source Appraisal Tax Designation None Tax Year 2019 Taxes 20547.00 Water Public Water Zoning C - Commercial

    Listing provided courtesy of Bill Almon, Jr of Almon Commercial-Residential Real Estate.
    © 2019 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 Heritage Moultray Real Estate Services, LLC.. Data last updated: 2019-04-19T23:48:37.9.
     
    Heritage Moultray Real Estate Services, LLC.
    5625 Summitview Ave
    Yakima WA, 98908