5110 Tieton Dr Yakima, WA 98908
72,218 Sq. Ft. / 104,108 Sq. Ft., 2.39 acres lot size / Other
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Glenwood Square is a one-of-a-kind, prize commercial property that any investor would want in their portfolio. It has more than a 20 year track record of successful operation in the heart of Yakima. To say it's at the 'core' of the city is an appropriate statement since it was once was an active apple warehouse that was refurbished in1999 to accommodate mixed use retail, office and restaurant space. Currently, it is home to Zesta Cucina and Tacquerias Xochimilco, two of Yakima's most popular destination restaurants, both are long term tenants with Zesta being in place since the building's inception and Xochimilco since 2013. The Pub of Yakima, a craft beer and arcade harbor, has been there since 2015. Each of these adds color and culture to the environment and a steady flow of fresh patrons on a daily basis. While Covid has had its impact on these mainstays, all are operating well at present and on target to reach greater sales volumes in 2023. Other tenants report steady activity as well and there are definitely more square feet of available space at Glenwood that, once leased, would improve a buyer's cap rate on the purchase price for this property. In fact, pre-Covid Net Operating Income of Glenwood Square would put the current sale price at 6.5% cap rate and there is certainly ample opportunity to achieve that level again in the near term. Additional financial opportunity exists in a movie/media theatre located on the 2nd floor with ticket booth already in place for special events or regular entertainment. Glenwood Square is located directly across the street from the largest Catholic Church in Yakima County and centered in West Valley which is the highest income per household zip code in the metro area. Population of Yakima County is over 250,000 people with approximately 85,000 homes, over half of which are located within the Yakima city limits. Glenwood is just minutes from anywhere within the city...(SUPPLEMENT CONTINUED IN SUPPLEMENT SECTION & DOCUMENTS).
property details
Type
Other
Status
Active
County
Yakima
Year Built
1945
Sq. Ft.
72,218
Lot Size
104,108 Sq. Ft., 2 acres
Listing Id
22-1697
Courtesy Of
Robert Powers - Berkshire Hathaway HomeServices Central Washington Real Estate +1 509 949 5314
List Office Phone
+1 (509) 966-3030
Interior Features
Flooring
Tile
Concrete
Carpet
Wood
Concrete
Carpet
Wood
Living Area Units
Sq. Ft.
Exterior Features
Roof
Composition
Lot/Land Description
Level
Stories
2
Utility & Building Info
Parcel Number
181328-12403
Cooling
Central Air
Water Source
Public
Tax Amount
25931
Building Area Total
72,218 Sq. Ft.
Price Per Sq Ft
$58
Architectural Style
2 Story
Price History
| date | event | price | source |
|---|---|---|---|
|
01/05/2023
01/05/2023
|
Active |
$4,200,000
|
Yakima Assoc Of Realtors |
|
07/07/2022
07/07/2022
|
Active |
$4,600,000
|
Yakima Assoc Of Realtors |
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Market Trends
Source: LiveBy
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