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INVESTMENT HIGHLIGHTS
Cash-on-Cash: Over 200 basis points of spread between cap rate and assumable financing provides above-market pre-taxed returns of 8.91%.
Assumable Financing: The property comes with assumable financing at an attractive interest rate of 4.99% and a loan-to-value ratio of 73%.
Attractive Price per Square Foot: The property is priced well below replacement cost at $99 per square foot and strategically located in extremely low vacancy sub-market of below 3%.
96% Occupied: The center is well-occupied by a strong mix of national tenants, including Grocery Outlet, Tractor Supply Company, and Planet Fitness, ranked #11 in the state for number of visits and #2 in visits per square foot.
Grocery Outlet: Grocery Outlet is a Fortune 500 company and a top-performing store in Washington.
Tractor Supply Company: Tractor Supply Company is a Fortune 500 company and benefits from being the only store location between the Tri-Cities and Yakima MSAs. This location is reported to be one of the top performing locations in the state.
Low Anchor Rents: The anchor rents are below market at $9.90/SF for Grocery Outlet, $5.51/SF for Tractor Supply Company, and $7.88/SF for Planet Fitness, providing for long term stability for future ownership.
Walmart Supercenter Across Street: The Property is directly across the street from a Walmart Supercenter, which provides additional traffic and visibility.
