841 W 1st Ave

Description

MLS# 293283 This fully leased, 2015-built 8-unit retail strip center offers investors stable in-place cash flow with clear upside through improved lease economics and site utilization. Offered at $150.34 PPSF The property totals 8,640 SF on a 1.28-acre parcel with strong frontage and visibility along a primary commercial corridor in Toppenish, WA, providing convenient access for local and regional traffic. The intersection going north and south on SR 97 reports a Annual Average Daily Traffic count (AADT) of approximately 11,000. A major differentiator in this market is the site's substantial on-site parking, supporting higher-traffic users, operational flexibility, and long-term tenant retention. Value-Add / Upside: In addition to current occupancy, the asset presents a compelling opportunity to enhance value over time through lease restructuring, expense allocations/CAM recovery, and rent optimization as leases roll. The property also includes excess land to the rear that may support additional income-generating uses and future development concepts--such as expanded retail/service uses or a convenience-oriented configuration (including potential fuel-related improvements near the existing food-truck area)--subject to buyer verification of zoning, utilities, access, and required approvals. The center is 100% occupied with a diverse tenant mix including an established insurance agency, a pawn shop (3 units), Cricket Wireless, a smoke shop, a nail salon, and a spice & herb retailer. Tenant history ranges from 5 to 26 years, and the property has experienced two lease signings within the past year, supporting both long-standing stability and refreshed lease activity. A long-standing food truck operator also provides supplemental income with reliable payment history. With modern construction, strong visibility, established tenancy, and multiple paths to NOI growth, this property is well-suited for 1031 buyers and value-add retail investors