DIE BRUKE BUILDING | 6% in-place cap | 9.25% proforma cap
Landmark Property in the Heart of Walla Walla Wine Country with Hospitality Conversion Potential
Marketing description
The Verger Team is is pleased to offer the rare opportunity to acquire the Die Brucke Building, a landmark property located in the center of Walla Walla's primary tourist district. Originally constructed in 1903, the 29,030 square foot building is recognized for its historical significance and plays an important role in the City of Walla Walla's long-term preservation and revitalization initiatives. Positioned at the prominent intersection of Main St and 1st Ave within the downtown core, the property is surrounded by Walla Walla's most sought-after wine tasting rooms, restaurants, hotels, and boutique retail. Over the past decade, Walla Walla has emerged as a nationally recognized wine destination, now home to more than 185 wineries. This growth has been reinforced by strong and repeat visitation, with 90% of visitors indicating plans to return within two years, according to the 2023 Visitor Experience Survey.
Investment highlights
- Significant Near-Term Upside: Offered at a 6% in-place CAP rate with a path to 9.25% through lease-up of the vacant suites.
- Prime Main Street Frontage: Located at the corner of Main & 1st Ave with the highest pedestrian traffic in Walla Walla's downtown core.
- Committed Long-Term Tenants: Books & Game Co. (est. 1989) has anchored 20% of the building since 1999 - a 25+ year tenancy at this location.
- Hospitality Conversion Upside: Architect-designed hotel conversion concept (Heliotrope Architects) ready for a buyer seeking boutique hotel opportunity.
- Nationally Recognized Wine Region: Home to 125+ wineries within the Walla Walla Valley AVA, the region is one of North America's premier wine destinations, supporting sustained visitation and economic growth drawing over 500,000 tourist year round.
- Premier Pacific Northwest Tourism Destination: Walla Walla is a leading regional tourism market, driven by its nationally recognized wine industry, vibrant downtown, and year-round attractions.
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