Triple-Net Retail
For Sale
Contact for pricing
1911 S 1st Street, Yakima, WA 98903
A 2015-built, net-leased retail building operated by Harbor Freight under an extended lease through 2030.
Property Size15,166 SF
Lot Size1.79 Acres
Price / SF$263.75
Days on Market114
Property Features for 1911 S 1st Street
General Information
Standard status
Active
Size
15,166 SF
Lot size
1.79 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$227,490
Building Details
Year Built
2015
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Portland
Listed By:
Eric Garske · License #OR 201235586
(503) 200-2031
Source:
Crexi
Added: Jun 19
Changed: Oct 10
Last Checked: Oct 9 at 8:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Portland
Investment Insights
Based on property information with market context.
The offering is a 15,166-square-foot retail building constructed in 2015 on a 1.79-acre parcel and leased on a triple-net (NNN) basis. The property is secured by a lease structure designed to minimize landlord responsibilities. Harbor Freight operates the site as a tenant, with a lease that has been recently extended through 2030 and includes five additional five-year extension options.
The building is positioned within a high-traffic retail corridor in Yakima, Washington. The immediate area includes shadow anchors Goodwill and Dollar Tree, along with numerous national and regional retailers nearby.
For buyers seeking a stabilized, net-leased investment, this asset provides a long-term tenant structure with extensions through 2030 plus the additional five-year options. Harbor Freight’s presence at the location is highlighted in the remarks as one of its strongest-performing stores, ranking in the top 8% nationally, #4 in Washington, and #1 in Eastern Washington.
The building is positioned within a high-traffic retail corridor in Yakima, Washington. The immediate area includes shadow anchors Goodwill and Dollar Tree, along with numerous national and regional retailers nearby.
For buyers seeking a stabilized, net-leased investment, this asset provides a long-term tenant structure with extensions through 2030 plus the additional five-year options. Harbor Freight’s presence at the location is highlighted in the remarks as one of its strongest-performing stores, ranking in the top 8% nationally, #4 in Washington, and #1 in Eastern Washington.
Key Highlights
- 15,166 SF retail building on a 1.79‑acre parcel in Yakima, Washington
- Built in 2015 and operated by Harbor Freight under a triple‑net (NNN) lease
- Lease recently extended through 2030 with five additional five‑year extension options
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,775
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,075,500
$3.1M
Cap Rate 7%
$2,196,786
$2.2M
Cap Rate 9%
$1,708,611
$1.7M
Market Conditions
NOI Build-Up for 15,166 SF
Gross rent
$229.3K $15.12/SF
− Vacancy
−$9.6K −$0.64/SF
EGI
$219.7K $14.48/SF
− OpEx
−$65.9K −$4.35/SF
NOI
$153.8K $10.14/SF
Area
Yakima County, WA
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,075,500
Cap Rate 7%
$2,196,786
Cap Rate 9%
$1,708,611
Alternative Uses
Best Use
Retail
$2.20M
$1.92M – $2.56M
NOI $153,775 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.69M – $3.59M
NOI $215,590 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
500k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 23%
Apparel 15%
Groceries 13%
Safeway
Groceries
52,538 visits/mo
0.4 miles
The Home Depot
Home Improvements & Furnishings
48,414 visits/mo
0.1 miles
Ross Dress for Less
Apparel
38,143 visits/mo
0.5 miles
Panda Express
Dining
32,336 visits/mo
0.1 miles
Dollar Tree
Shops & Services
27,467 visits/mo
0.2 miles
Demographics for 98903, WA
17,491
Population
6,541
Households
2.7
Avg Household Size
39
Median Age
18%
College-Educated
79%
High-School Grad
192.5 sq mi
ZIP Area
91
Density / Sq Mi
$69,188
Median Household Income
$35,250
Median Earnings
$1,232
Median Rent
$265,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - A 2015-built, net-leased retail building operated by Harbor Freight under an extended lease through 2030.
Where is this nnn property located?
The property is located at 1911 S 1st Street Yakima, WA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 15,166 SF retail building on a 1.79‑acre parcel in Yakima, Washington; Built in 2015 and operated by Harbor Freight under a triple‑net (NNN) lease; Lease recently extended through 2030 with five additional five‑year extension options
