841 W 1st Ave 8,640 SF 100% Leased Retail Building Toppenish, WA 98948 $2,066,250 CAD ($239.15 CAD/SF) 7.10% Cap Rate

This fully leased 8-unit retail strip center presents a rare turnkey investment opportunity in the heart of Toppenish. Built in 2015, the 8,640 square foot property sits on a 1.28-acre parcel with prime frontage along one of the city's busiest commercial corridors, offering excellent visibility, strong traffic counts, and immediate highway access that make it highly attractive to local, regional, national franchise tenants seeking dominant positioning within the trade area.
The center is 100% occupied with a diverse tenant mix that includes an established insurance agency, a pawn shop occupying three units, Cricket Wireless, a smoke shop, a nail salon, and a spice and herb retailer, with tenant history ranging from 5 to 26 years and two recent lease signings within the past year, providing a blend of long-term stability and refreshed lease terms. Additionally, a long-standing food truck operator generates supplemental income and has a reliable payment history. The property benefits from substantial on-site parking--an uncommon advantage in Toppenish where many retail centers lack adequate parking--providing flexibility for higher-traffic users and long-term tenant retention.
While the asset offers stable in-place income, there is clear opportunity to enhance value by improving lease structures, adjusting rents toward market levels, optimizing expense allocations, and strategically increasing net operating income over time. With modern construction, strong frontage, established tenancy, and built-in upside through lease and expense improvements, this retail strip center offers investors both immediate cash flow and the ability to grow NOI and long-term equity through proactive asset management.