Glenwood Square
8.72% Current CAP | $72 PSF | 87% Occupancy
Marketing description
- Glenwood Square offers over 20 years of successful operations in the heart of Yakima, demonstrating stability and long-term tenant demand
- The property is anchored by well-established, locally recognized tenants that generate consistent daily traffic and contribute to a vibrant, experiential environment
- Existing vacancy provides an opportunity to increase cash flow and improve overall returns as remaining space is leased at market rates
- Ownership has completed recent upgrades to the property, a roof replacement in 2016, interior fire sprinklers and suppression, enhancing overall condition and reducing near-term capital expenditure requirements for a new investor
- Originally an apple warehouse, the building features exposed beams and hardwood floors, creating a distinctive setting that appeals to retail, restaurant, and creative office tenants
- Second-floor theater/ media space offers upside through events, entertainment programming, or alternative uses
- Situated in one of Yakima’s most affluent submarkets, with strong surrounding demographics and convenient access from across the city
- The property includes 213 lighted parking stalls, supporting a wide range of commercial uses and high customer volume
Investment highlights
Kidder Mathews is pleased to present the opportunity to acquire Glenwood Square, an irreplaceable and historic multi-tenant neighborhood shopping center in Yakima’s affluent West Valley submarket.
Glenwood Square is anchored by 3 of Yakima’s most popular and long-time established restaurants, offering stable and differentiated rental income at an attractive 8.72% current CAP Rate, generating an immediate 11% cash on cash return with traditional financing.
Located within the affluent West Valley submarket— Yakima’s highest-income submarket -The property benefits from strong surrounding demographics, with a county population exceeding 250,000 residents and approximately 85,000 households.
The building itself offers a distinctive architectural character, featuring exposed rustic beams and heavy hardwood flooring that create an inviting and authentic environment well-suited for a variety of retail and service-oriented uses.
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