616 S 2nd St

    Yakima, WA 98901
    • $614,460
    • STATUS: Active
    • ON SITE: 52 days
    • MLS #: 19-1827
    UPDATED: 34 min ago
    $614,460
    • 0
      BEDS
    • 0.63
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,022
      SQFT
    • $51
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1970

    School Ratings & Info

    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.Of the approximately 12,022SF of total building area, approximately 1,500SF is office space on 2 levels. There's also a detached utility building of approximately 905SF deemed to hold no value for purposes of either the lease or sale offering. Includes three parcels inclusive of secured yard space.

    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: 2019-09-15T09:48:37.627.
    www.heritagemoultray.com/homes/97228749

    616 S 2nd St Yakima, WA 98901

    • Price: $614,460
    • Status: Active
    • Updated: 34 min ago
    • MLS #: 19-1827
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.63
    Acres
    12,022
    SQFT
    $51
    $/SQFT
    1970
    Built
    Neighborhood:
    1B - Se Yakima
    Area:
    1B - Se Yakima
    Property 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.Of the approximately 12,022SF of total building area, approximately 1,500SF is office space on 2 levels. There's also a detached utility building of approximately 905SF deemed to hold no value for purposes of either the lease or sale offering. Includes three parcels inclusive of secured yard space.
    Exterior Features

    Construction Block Lot Depth Feet 0.00 Lot Front Feet 0.00 Lot Size .51 - .75 Acres Roof Built-Up

    Interior Features

    Heating Gas

    Property Features

    Commercial Type Commercial Property Detail Use Manufacturing List Price Description Total List Price Main Use Industrial Sewage System Connected Sq Ft Source Blue Print Tax Designation None Tax Year 2019 Taxes 4061.00 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: 2019-09-15T09:48:37.627.
     
    Heritage Moultray Real Estate Services, LLC.
    5625 Summitview Ave
    Yakima WA, 98908