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Eagle Plaza Retail Center 937 Yelm Ave W 6,300 SF 100% Leased Retail Building Yelm, WA 98597 $7,430,400 CAD ($1,179.43 CAD/SF) 5.58% Cap Rate
Investment Highlights
- Brand new construction, 2025 build.
- Each tenant is operating on a brand-new 10-year NNN lease with contractual rent increases, providing income growth and a strong WALT of 9.9 years.
- Outparcel to Yelm Medical Plaza, a 34,000 square foot class A medical office and primary medical center in Yelm.
- 100% leased to national tenants, including a drive-thru Starbucks.
- Frontage on Yelm Ave, a primary thoroughfare that sees over 17,000 vehicles per day.
- Approximately 300 parking spaces within the greater center, available to all Owners within the center on a first-come, first-served basis.
Executive Summary
Constructed in 2025, the Property offers investors a newly developed 6,300 SF three-tenant retail asset in a growing, affluent submarket.
Occupied by a drive-thru Starbucks, MultiCare Indigo Health, and Wingstop, each tenant operates on a brand-new 10-year NNN lease with scheduled rent increases. The Property benefits from prime frontage on Yelm Avenue, the city’s primary commercial corridor with traffic counts exceeding 17,000 vehicles per day, and is an outparcel to Yelm Medical Plaza—a 34,000 SF Class A medical hub occupied by Providence, ATI Physical Therapy, and LabCorp.
Yelm continues to attract national retailers and service providers—such as Walmart, Costco and McDonald’s—alongside a growing three-mile population that has increased by approximately 45% since 2010. Average household incomes now exceed $111,000 within five miles, and the retail vacancy rate remains exceptionally low at just 1.1%. The area stands out as one of Thurston County’s fastest-growing commercial corridors.
Occupied by a drive-thru Starbucks, MultiCare Indigo Health, and Wingstop, each tenant operates on a brand-new 10-year NNN lease with scheduled rent increases. The Property benefits from prime frontage on Yelm Avenue, the city’s primary commercial corridor with traffic counts exceeding 17,000 vehicles per day, and is an outparcel to Yelm Medical Plaza—a 34,000 SF Class A medical hub occupied by Providence, ATI Physical Therapy, and LabCorp.
Yelm continues to attract national retailers and service providers—such as Walmart, Costco and McDonald’s—alongside a growing three-mile population that has increased by approximately 45% since 2010. Average household incomes now exceed $111,000 within five miles, and the retail vacancy rate remains exceptionally low at just 1.1%. The area stands out as one of Thurston County’s fastest-growing commercial corridors.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,300 SF
Building Class
B
Year Built
2025
Price
$7,430,400 CAD
Price Per SF
$1,179.43 CAD
Cap Rate
5.58%
NOI
$414,616 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.46
Lot Size
0.32 AC
Zoning
C-1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 45170000400 | Improvements Assessment | $1,347,492 CAD |
| Land Assessment | $838,937 CAD | Total Assessment | $2,186,429 CAD |
Property Taxes
Parcel Number
45170000400
Land Assessment
$838,937 CAD
Improvements Assessment
$1,347,492 CAD
Total Assessment
$2,186,429 CAD
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Eagle Plaza Retail Center | 937 Yelm Ave W
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