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Billy Sleeth
Direct: (206) 518-9567
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Newmark
Main: (206) 388-3000
www.nmrk.com
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Kevin LeMond
Direct: (206) 518-9604
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Newmark
Main: (206) 388-3000
www.nmrk.com
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FOR SALE - Listing #: 710638
1102 Springwater Avenue
1102 - 0 Springwater Ave , Wenatchee WA98801
Agent Remarks
FOR SALE: TARGET - $4.87M - $50/SF - LOW RENT - NNN - WENATCHEE, WA
The only full-size Target within 150 miles, offered at $50/SF on an absolute NNN lease. Target exercised a new 5-year option extension through September 2031 with three additional options remaining. In-place rent of $2.43/SF/YR is significantly below market with upside at expiration. The property anchors Valley North Center, the #1 shopping center in a 50-mile radius and a top 10% performer nationwide with 3.5M annual visits.
Highlights:
• Absolute NNN
• Fortune 50 credit, rated A/A2/A
• Only full-size Target within 150 miles
• New 5-year lease extension through September 2031
• 3 remaining options with 10% rent bumps each — cap rate grows to 6.64% by 2046
• Below-market rent at $2.43/SF
• Fee simple land ownership, 5.71
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County
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Chelan
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Market Area
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Chelan County
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Tax ID #
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232033493078
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Price
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$ 4,870,000
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Property Details
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Prop Type
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Retail
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# Floors
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1
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Bldg SF
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97,509
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Year Built
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1997
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Land SF
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248,728
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# Bldgs
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1
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Acres
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5.71
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# Parking Spaces
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0
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Office Class
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Informational Links
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