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30922614
30922615

6400 W Nob Hill Blvd, Yakima, WA 98908 For Sale

AG
CA CA 01876378
RX Syndicate
Listed by RX Syndicate
$5,625,000
131 days on market
Updated 27 days ago

$100k Fee to Buyer Broker - Tax Free State Walgreens

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,738
Cap Rate 8%
NOI $450,000
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 25.1
Lease Expiration 10/31/2034
Remaining Term 8.3
Price per SqFt $382
Acreage 1.370
Investment Type Net Lease
Lease Commencement 10/05/2009

Tax Free State - Strong Sales - A+ Corner - Anchored by Booming Walmart - Rare Washington Walgreens

Marketing description

This Walgreens is strategically positioned along W Nob Hill Boulevard, Yakima’s primary west-side retail corridor, serving as the dominant east-west commercial artery for the city. The location benefits from exceptional visibility, direct access, and consistent commuter traffic linking West Yakima’s dense residential neighborhoods with the region’s largest concentration of big-box and grocery retail. In particular, the Walmart to which Walgreens is an out-parcel is one of the best stores in the country. As Placer data (foot traffic) is no longer available for WA pharmacies, this gives us a glimpse at the type of foot traffic this Walgreens sees at this corner.

The property is situated within a high-performing retail node anchored by Walmart, Target, Fred Meyer, Home Depot, and a broad mix of national and regional tenants, creating powerful co-tenancy synergy and sustained daily consumer traffic. This established retail cluster functions as the core shopping destination for the Yakima Valley, drawing customers from a wide geographic area and supporting strong year-round demand. The site’s proximity to large residential neighborhoods, healthcare services, hotels, and regional employers positions the asset as a durable investment with stable long-term fundamentals in one of Central Washington’s most proven trade areas.

The lease itself has ~8.8 years remaining, is true triple net with a full Walgreens guaranty and the preferred 5 year option structure through 2044 and features ~$3,850,000 in rents remaining in the primary term. The store itself is positioned on one of Yakima’s highest-exposure retail corridors with 20,000+ vehicles per day, rising above 26,000 VPD on adjacent segments and reaching 30,000+ VPD in parts of the Nob Hill retail district. As an added bonus, Washington is a tax-free state. If you are looking for a solid investment, with a long term lease and solid real estate intrinsics, you've found it.

Investment highlights

Top 225 Walmart in the Country Anchors This Walgreens

~8.6 Years Remain in Walgreens Guaranteed Rents

Full Corporate Walgreens Guaranty

~$3,850,000 in Rents Remaining in Primary Term

Destination Retail Corner Draws Traffic From Entire Yakima Valley

Tax Free State of WA Dense Residential Surrounds the Site

Excellent Demographics High Visibility Intersection With Strong National Tenant Anchors

Listing Contacts

AG
CA CA 01876378
RX Syndicate
Listed by RX Syndicate

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$450,000.00
$37,500.00/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

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Additional Information

Name
Brian Brockman
License
27380
Brokerage
Bang Realty
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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