Property Details

1102 Springwater Ave

Wenatchee, WA 98801

$4,870,000

Available

CBA# 710638 courtesy of CBA Listing firm: Newmark

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I’d like more information about 1102 Springwater Ave, Wenatchee, MLS# 710638

Office / Retail

Property Type

97,509

Bldg Sq Ft

1997

Year Built

Property Overview

FOR SALE: TARGET – $4.87M – $50/SF – LOW RENT – NNN – WENATCHEE, WAThe only full-size Target within 150 miles, offered at $50/SF on an absolute NNN lease. Target exercised a new 5-year option extension through September 2031 with three additional options remaining. In-place rent of $2.43/SF/YR is significantly below market with upside at expiration. The property anchors Valley North Center, the #1 shopping center in a 50-mile radius and a top 10% performer nationwide with 3.5M annual visits.Highlights:• Absolute NNN• Fortune 50 credit, rated A/A2/A• Only full-size Target within 150 miles• New 5-year lease extension through September 2031• 3 remaining options with 10% rent bumps each — cap rate grows to 6.64% by 2046• Below-market rent at $2.43/SF• Fee simple land ownership, 5.71