1005-1009 N 1st Street Yakima, WA {{=ifError(nearestNamedReferenceKey('https://data.app.marq.com/dataSets/2780').'city', 'City')}}, {{=ifError(nearestNamedReferenceKey('https://data.app.marq.com/dataSets/2780').'state', 'State')}}
offering memorandum
presented by Phil Simpson
This Offering Memorandum has been prepared by Phil Simpson, Dedicated Realty, for information purposes only. The information contained herein is believed to be reliable, but no presentation or warranty, express or implied is made regarding its accuracy, completeness or correctness. Prospective purchasers are encouraged to conduct their own due diligence and consult with their advisors before making any investment decisions. This Memorandum is not an offer to sell or a solicitation of an offer to buy any securities or interest in the property. Any offering or solicitation will be made only to qualified prospective purchasers pursuant to applicable laws and regulations. The information contained in this Memorandum is confidential and intended solely for the use of the recipient. It may not be reproduced or distributed, in whole or in part, without the prior written consent of Phil Simpson, Dedicated Realty, LLC. Prospective purchasers should rely solely on their own investigations and evaluations of the property and any investment decisions should be made based on the purchaser's own analysis. Dedicated Realty, LLC and its representatives make no presentation or warranty, express or implied, as to the accuracy or completeness of the information contained herein. By accepting this Memorandum, you agree to the above terms and conditions.
important disclosures
Investment Overview Financial Overview Property Information Property Photos Area Information Aerials & Maps
table of contents
Investment Overview
asking price: ${{=ifError(nearestNamedReferenceKey('https://data.app.marq.com/dataSets/2780').'listPrice', 'Property Pr…')}}695,000
the offering
investment overview
Phil Simpson, Dedicated Realty, LLC is pleased to offer for sale this fully occupied Yakima commercial property with mixed-use income and growth potential! Three long term tenants in four separate retail spaces make this fully occupied property a steady income producer with upside. Spaces currently used as restaurant, salon/barber and auto shop. There is also ample storage space and there are three apartments inside the commercial units. This property has a lot of future income potential.
Financial Overview
Asking Price: $695,000 Market NOI: $59,966.70 Projected NOI: $64,305.40 Number of Units: 4 Occupancy: Full Market CAP Rate: 8.63% Projected CAP rate: 9.25%
financial overview
This fully occupied Yakima commercial property offers a steady income stream with significant growth potential, supported by three long-term tenants occupying four separate retail spaces currently utilized as a restaurant, salon/barber, and auto shop. The property also includes ample storage space and three apartments within the commercial units, adding to its future income opportunities. Income has shown a consistent increase over the years, with expenses remaining relatively stable, contributing to a robust net operating income. Taxes and insurance costs are factored into the finances, with projections indicating a potential rise. The capitalization rate reflects a promising return, with market and projected figures suggesting further appreciation. The current rent roll details the tenants' contributions, with market rents indicating room for adjustment and growth.
financial summary
Offers a diverse income stream with retail spaces and three residential apartments Strategically located to attract a wide tenant base Long-term leases with established tenants ensure cash flow stability Potential to increase rents to market levels for significant upside Additional storage space enhances revenue opportunities Supported by a rising net operating income and improving capitalization rate Combines steady returns with strong future appreciation potential
investment highlights
Property Information
Fully occupied commercial property Mixed-use income potential Four separate retail spaces Three long-term tenants Current uses: restaurant, salon/barber, and auto shop Three apartments within the commercial units Ample storage space Steady income with future growth potential
property Features
property information
Property Photos
property photos
Area Overview
The property is situated in the North 1st Street corridor, a key route connecting downtown Yakima to the I-82 freeway. The area features a mix of commercial and residential properties, offering a vibrant live-work environment with restaurants, salons, auto shops, and other retail establishments nearby. The North 1st Street Revitalization Project is currently enhancing the area with roadway improvements, LED lighting, landscaping, and boulevard medians, boosting both aesthetics and traffic flow. With mixed-use zoning, nearby amenities, and ongoing revitalization, the neighborhood offers strong investment potential, steady income from long-term tenants, and opportunities for future growth.
area information
area overview
Aerials & Maps
aerial map
aerial & maps
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Phil Simpson Designated Broker 509-654-8086