615 Vly Mall Pkwy East Wenatchee, WA 98802-4837
Property profile & analytics
615 Vly Mall Pkwy East Wenatchee, WA 98802-4837
- Turn key restaurants
- 7,115 SF
- 0.58 lot acres
Property ID
US90-1995657
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Turn key restaurants
Property Details for 615 Vly Mall Pkwy
- Year built
- 2010
- Construction
- WOOD
- Lot size
- 0.58 lot acres
- Property size
- 7,115 SF
- Zone code
- 2
- Property type
- Turn key restaurants
- APN
- 3700002924
- APU
- 3700002924
Description
This exceptional investment opportunity presents a 7,507 square-foot Olive Garden restaurant on a 0.41-acre lot in East Wenatchee, Washington. Built in 2010, the property is situated on an outparcel of the Wenatchee Valley Mall, benefiting from high traffic volume generated by anchor stores such as Macy's, Sportsman's Warehouse, and Ross. The property enjoys a prominent location along Valley Mall Parkway, a signalized intersection off State Route 285, a major thoroughfare with over 56,000 vehicles daily. The strong demographics of the area are highlighted by a population of over 75,000 within a five-mile radius, boasting a six-figure average household income of $108,307. The property is subject to a triple-net (NNN) ground lease with Olive Garden, a wholly-owned subsidiary of Darden Restaurants, one of the world's largest full-service restaurant companies. The current lease, commenced April 1, 2010, and recently extended, expires March 31, 2032, leaving 7.4 years remaining. Three five-year renewal options exist, each with a 10% rent increase. The asking price is $2,525,217, representing a 5.75% cap rate and a price per square foot of $336.38. The property's Net Operating Income (NOI) is $145,200, reflecting a 100% occupancy rate. Nearby retailers include Costco, Safeway, Grocery Outlet, Petco, Marshalls, Chase Bank, Fred Meyer, and Hobby Lobby, further enhancing the property's desirability and investment potential. This is a rare opportunity to acquire a well-established, high-performing asset in a thriving retail corridor.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,485,000
- ML approach
- $2,280,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- East Wenatchee
- County
- Douglas
- State
- Washington
- Longitude
- -120.291
- Latitude
- 47.4129
- CBSA code
- 48300
- CBSA name
- WENATCHEE, WA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$13,896
$333,500
$1,356,800
$1,690,300
-
$333,500
$1,356,800
$1,690,300
