Investment Overview

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.