611 Valley Mall Pkwy East Wenatchee, WA 98802
- Retail space
- 2.29 lot acres
Current Use by Public Records
- Retail space
Property Details for 611 Valley Mall Pkwy
- Lot size
- 2.29 lot acres
- Property type
- Retail space
- APN
- 3700002925
- APU
- 3700002925
Description
This exceptional investment opportunity presents a fee-simple interest in a 46,488 square foot Sportsman's Warehouse, located at 611 Valley Mall Pkwy, East Wenatchee, WA 98802. The property sits on a 2.29-acre lot and boasts a strong 6.25% cap rate, generating a net operating income (NOI) of $209,196. The property is currently 100% occupied under a triple-net (NNN) lease with Sportsman's Warehouse, a publicly traded company (NASDAQ: SPWH), with over 8 years remaining on the primary lease term, plus three 5-year options with 5% rent increases at the beginning of each option period. Built in 2000, this strategically located storefront benefits from high visibility and accessibility, situated within the Wenatchee Valley Mall, a 340,000+ square foot shopping center attracting over 2.3 million visitors annually. The property enjoys excellent access to major roadways, including State Highway 28 (35,000 vehicles per day) and State Highway 285 (56,000 vehicles per day). The surrounding area demonstrates strong demographics, with over 75,276 residents and an average household income of $101,605 within a 5-mile radius. The asking price is $3,347,000, translating to $72 per square foot and $4.50 per square foot for the land. This presents a compelling investment opportunity with a long-term, stable tenant and significant upside potential. The property's APN is 3700002925.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- East Wenatchee
- County
- Douglas
- State
- Washington
- Longitude
- -120.29
- Latitude
- 47.413
- CBSA code
- 48300
- CBSA name
- WENATCHEE, WA METROPOLITAN STATISTICAL AREA
