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    1200 Chesterley Dr

    Yakima, WA 98902
    • $4,562,825
    • STATUS: Active
    • ON SITE: 48 days
    • MLS #: 20-1648
    UPDATED: 93 min ago
    $4,562,825
    • 0
      BEDS
    • 2.1
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 34,824
      SQFT
    • $131
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1999

    School Ratings & Info

    Description

    THIS OFFERING is for the opportunity to acquire a well-positioned multi-tenant office building with a strong track record, good location and diversified tenant mix. Structured in an intentionally transparent manner, this investment grade offering comes with minimal downside exposure and considerable upside opportunities both from simple 'paper' value-add concepts and functional/aesthetic updating opportunities. Offered at an 8 cap, the net operating income calculations include conservative projections such as the currently vacant spaces leased at below market rents (with the owner offering to lease back any vacancies up to 1-year following closing), a 10% vacancy factor, 2% capital replacement reserve and certain operating expenses adjusted upwards to account for market normalcies ascompared to lesser historical amounts. The property has historically been operated with an emphasis on maintaining cash flow and minimizing management as opposed to maximizing value, leaving the next owner a relatively simple road map to accomplish the latter.

    Monthly Payment Calculator



    © 2020 Yakima Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Yakima MLS© IDX Program. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Joanne Melton Real Estate Team | Keller Williams Realty. Data last updated: 2020-09-20T23:48:41.367.
    www.joannemelton.com/homes/108523129
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    1200 Chesterley Dr Yakima, WA 98902

    • Price: $4,562,825
    • Status: Active
    • Updated: 93 min ago
    • MLS #: 20-1648
    0
    Beds
    0
    Baths
    0
    ½ Baths
    2.1
    Acres
    34,824
    SQFT
    $131
    $/SQFT
    1999
    Built
    Neighborhood:
    2B - Btwn N 16Th/40Th
    Area:
    2B - Btwn N 16Th/40Th
    Property Description
    THIS OFFERING is for the opportunity to acquire a well-positioned multi-tenant office building with a strong track record, good location and diversified tenant mix. Structured in an intentionally transparent manner, this investment grade offering comes with minimal downside exposure and considerable upside opportunities both from simple 'paper' value-add concepts and functional/aesthetic updating opportunities. Offered at an 8 cap, the net operating income calculations include conservative projections such as the currently vacant spaces leased at below market rents (with the owner offering to lease back any vacancies up to 1-year following closing), a 10% vacancy factor, 2% capital replacement reserve and certain operating expenses adjusted upwards to account for market normalcies ascompared to lesser historical amounts. The property has historically been operated with an emphasis on maintaining cash flow and minimizing management as opposed to maximizing value, leaving the next owner a relatively simple road map to accomplish the latter.
    Exterior Features

    Construction Frame Lot Depth Feet 0.00 Lot Front Feet 0.00 Lot Size 1+ - 5.0 Acres Roof Built-Up

    Interior Features

    Air Conditioning Central Air Heating Forced AirGas

    Property Features

    Commercial Type Commercial Property List Price Description Total List Price Main Use Office Sewage System Connected Sq Ft Source County Assessor Tax Designation None Tax Year 2020 Taxes 51653.00 Water Public Water Zoning C - Commercial

    Listing provided courtesy of Bill Almon, Jr of Almon Commercial-Residential Real Estate.


    © 2020 Yakima Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Yakima MLS© IDX Program. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Joanne Melton Real Estate Team | Keller Williams Realty. Data last updated: 2020-09-20T23:48:41.367.
     
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    Joanne Melton Real Estate Team | Keller Williams Realty
    1017 S. 40th Ave.
    Yakima WA, 98908