1128 Miller St, Wenatchee, WA 98801
42,630 SF | Retail Building | Wenatchee, WA 98801 | $9,490,000 ($223/SF) | 4% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $9,490,000
- Property Type
-
Retail
- Square Feet
- 42,630 SF
- Price / Square Foot
- $223
Listing Contacts
Brian Brockman
Verified Profile
- Property Info
Property Overview
Encore REIS is pleased to present the Absolute NNN Albertsons located in Wenatchee, WA.
Albertsons signed a long-term lease showing a strong commitment to the site. There are over 17 year remaining in the term with two, 10-year options available. The lease supports annual rental escalations of 1.75% offering a hedge for inflation. The property is subject to an absolute NNN lease with zero landlord responsibilities.
Albertsons (NYSE: ACI) operates as a banner of Albertsons Companies, one of the largest food and drug retailers in the United States. With both a strong local presence and national scale, the company operates stores across 35 states and the District of Columbia under 20 well-known banners. In October 2022, Kroger announced it would be acquiring Albertsons for $25 billion.
The property is positioned directly adjacent to Target and surrounded by national retailers including Lowes, Starbucks, The Home Depot, Walmart, Walgreens and many others. The asset is located at the signalized intersection of N Miller St and Springwater Ave, and has excellent visibility along N Miller St with traffic counts of over 30,000 vehicles per day.
Albertsons signed a long-term lease showing a strong commitment to the site. There are over 17 year remaining in the term with two, 10-year options available. The lease supports annual rental escalations of 1.75% offering a hedge for inflation. The property is subject to an absolute NNN lease with zero landlord responsibilities.
Albertsons (NYSE: ACI) operates as a banner of Albertsons Companies, one of the largest food and drug retailers in the United States. With both a strong local presence and national scale, the company operates stores across 35 states and the District of Columbia under 20 well-known banners. In October 2022, Kroger announced it would be acquiring Albertsons for $25 billion.
The property is positioned directly adjacent to Target and surrounded by national retailers including Lowes, Starbucks, The Home Depot, Walmart, Walgreens and many others. The asset is located at the signalized intersection of N Miller St and Springwater Ave, and has excellent visibility along N Miller St with traffic counts of over 30,000 vehicles per day.
Property Details
- Class
- B
- Year Built
- 1990
- Stories
- 1
- Lot Size (sq. ft)
- 198,198 SF
Highlights
- Absolute NNN Lease with Zero Landlord Responsibilities
- 17 Years Remaining in Term | Lease Supports Two, 10-Year Options
- Annual Rental Escalations of 1.75% Offers a Hedge Against Inflation
- Directly Adjacent to Target and Surrounded by National Retailers Including Lowes,Starbucks, The Home Depot, Walmart, Walgreens and Many Others
- Located at the Signalized Intersection of N Miller Stand Springwater Ave.
- Excellent Visibility and Easily Accessible Along N Miller St with Traffic Counts of Over 30,000 Vehicles Per Day
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