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1102 Springwater Ave
Wenatchee, WA 98801
Retail Property For Sale
Investment Highlights
- Absolute NNN
- Only full-size Target within 150 miles
- Anchors the #1 shopping center in a 50-mile radius
- Fortune 50 credit, rated A/A2/A
- New 5-year lease extension through September 2031
- Below-market rent at $2.43/SF
Executive Summary
FOR SALE: TARGET - $4.87M - $50/SF - LOW RENT - NNN - WENATCHEE, WA
The 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 acres
• Anchors the #1 shopping center in a 50-mile radius
The 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 acres
• Anchors the #1 shopping center in a 50-mile radius
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
97,000 SF
Building Class
B
Year Built
1996
Price
$6,746,119 CAD
Price Per SF
$69.55 CAD
Cap Rate
4.85%
NOI
$327,097 CAD
Tenancy
Single
Building Height
1 Story
Loading Docks
3 Exterior
Building FAR
0.39
Lot Size
5.71 AC
Parking
316 Spaces (3.26 Spaces per 1,000 SF Leased)
Frontage
494’ on Springwater Ave
Amenities
- Bus Line
- Pylon Sign
- Signage
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