Nisqually Plaza | Dominant Grocery Anchored Center w/… — Sale in Yelm, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Yelm, WA 98597
  • Year built: 1994

Photos

Nisqually Plaza | Dominant Grocery Anchored Center w/… — Sale in Yelm, WA, photo 1 of 3
Nisqually Plaza | Dominant Grocery Anchored Center w/… — Sale in Yelm, WA, photo 2 of 3
Nisqually Plaza | Dominant Grocery Anchored Center w/… — Sale in Yelm, WA, photo 3 of 3

Investment Figures

Cap rate
6.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale Nisqually Plaza, a dominant, grocery-anchored shopping center in Yelm, Washington. The largest shopping center in Yelm, the property is anchored by Grocery Outlet, Harbor Freight Tools, O'Reilly Auto Parts, Dollar Tree, and Goodwill, and shadow anchored by Safeway. Four new leases executed since 2025 have driven $265,000+ in NOI growth. A seller rent guaranty on a vacant suite brings the property to 95% occupancy and a developable pad site along Yelm Ave provides additional upside. There is seller financing available at 5.75% interest-only for a 5-year term at 50% LTV. O'Reilly Auto Parts recently expanded its footprint by 20% and MultiCare Health Systems signed a new 10-year lease. Nearly 69% of GLA is leased by tenants in place over five years, and all tenants operate on NNN leases. The property recently added 8,000 SF of new shop space and has received extensive renovations over the past five years. A cost segregation study projects $5.8M+ in first-year bonus depreciation. Located on Yelm Avenue (SR 507/510) with visibility to 20,000+ VPD and a signalized intersection, the property anchors Yelm's primary retail corridor. The surrounding trade area has seen 74% population growth since 2000, with average household incomes exceeding $100,000 and a median home value under $450,000. Investment Highlights: • DOMINANT YELM SHOPPING CENTER WITH 100% NNN LEASES • GROCERY AND NATIONAL TENANT ANCHORED + SHADOW ANCHORED • 95% OCCUPIED WITH STRONG LEASING MOMENTUM • SELLER FINANCING AVAILABLE • PAD DEVELOPMENT UPSIDE • STRONG HISTORICAL OCCUPANCY • O'REILLY AUTO PARTS EXPANSION AND NEW MULTICARE 10-YEAR LEASE • BRAND NEW CONSTRUCTION SHOP SPACE (8,000 SF) AND RECENT PROPERTY RENOVATIONS

Market Context

This retail in Yelm, WA is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 1994. Compare it against other retail listings for sale in Yelm, WA — view the full market.

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