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Shopping Neighborhood

Adams Mall | Rare WSU Campus Retail

600 NE Colorado St, Pullman, WA 99163

Listing Price: $3,900,000

Cap Rate
4.99%
Gross SF
16,197
Rentable SF
16,197
Price/Gross SF
$240.79
Lot Size
0.77 acres
Year Built
1920

Investment Overview

Adams Mall is strategically positioned on College Hill, with the Washington State University Greek system being built right around this site (see pages 3-5). Given the proximity to a dense student population with the Greek system this site provides an investor with a great opportunity to acquire a rare on campus retail space that results in high historical occupancy and opportunity to increase net income. Additionally, this site is a less than 15-minute walk to: Martin Stadium (WSU football), Beasley Coliseum (WSU basketball) & Bailey-Brayton Field (WSU baseball) along with numerous educational buildings and more than 1,550 on-campus dorm rooms. Adams Mall features an ideal mix of tenants for serving the local student population. The tenant base consists of: Jimmy John's, Pita Pit, Domino's Pizza, Corner Market, Tin Tan Tacos, Apples & Pears nightclub, Crybaby Café, a police sub-station and DABCO property management. *Seller has option to exercise Early Termination clause and allow Buyer to obtain the asset Fee Simple with full control of management responsibility. Buyer can also purchase as is on long term "Commercial Lease" with management company, see page 11. Contact listing Broker for further details and explanation.

Investment Highlights

  • Positioned in Heart of College Hill & Surrounded by WSU Greek System | Short Walk to Martin Stadium, Beasley Coliseum, Educational Buildings & More than 1,550 On-Campus Dorm Rooms
  • Ideal Tenant Mix | Proximity to Greek System Provides Significant Access to Ideal Clientele (see pages 3 -5)
  • Rare on Campus Retail Space Results in High Historical Occupancy - 100% Occupied
  • Significant Scheduled Rent Increases | Anchor Tenant Rent Increases 130% Per SF Over Next 3 Years
  • Crybaby Café Rent Increases 240%+ Per SF Over Next 3 Years
  • Opportunity to Control Rent Roll and Increase Net Income by Terminating "Commercial Lease" with Management Company
  • Income Tax Free State
  • WSU Pullman Campus Student Enrollment Exceeding 19,900

Exclusively Listed By

Financing By

  • Tammy Linden

    Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

Shopping Neighborhood

Adams Mall | Rare WSU Campus Retail

Listing Price: $3,900,000

Cap Rate
4.99%
Gross SF
16,197
Rentable SF
16,197
Price/Gross SF
$240.79
Lot Size
0.77 acres
Year Built
1920

Investment Highlights

  • Positioned in Heart of College Hill & Surrounded by WSU Greek System | Short Walk to Martin Stadium, Beasley Coliseum, Educational Buildings & More than 1,550 On-Campus Dorm Rooms
  • Ideal Tenant Mix | Proximity to Greek System Provides Significant Access to Ideal Clientele (see pages 3 -5)
  • Rare on Campus Retail Space Results in High Historical Occupancy - 100% Occupied
  • Significant Scheduled Rent Increases | Anchor Tenant Rent Increases 130% Per SF Over Next 3 Years
  • Crybaby Café Rent Increases 240%+ Per SF Over Next 3 Years
  • Opportunity to Control Rent Roll and Increase Net Income by Terminating "Commercial Lease" with Management Company
  • Income Tax Free State
  • WSU Pullman Campus Student Enrollment Exceeding 19,900

Investment Overview

Adams Mall is strategically positioned on College Hill, with the Washington State University Greek system being built right around this site (see pages 3-5). Given the proximity to a dense student population with the Greek system this site provides an investor with a great opportunity to acquire a rare on campus retail space that results in high historical occupancy and opportunity to increase net income. Additionally, this site is a less than 15-minute walk to: Martin Stadium (WSU football), Beasley Coliseum (WSU basketball) & Bailey-Brayton Field (WSU baseball) along with numerous educational buildings and more than 1,550 on-campus dorm rooms. Adams Mall features an ideal mix of tenants for serving the local student population. The tenant base consists of: Jimmy John's, Pita Pit, Domino's Pizza, Corner Market, Tin Tan Tacos, Apples & Pears nightclub, Crybaby Café, a police sub-station and DABCO property management. *Seller has option to exercise Early Termination clause and allow Buyer to obtain the asset Fee Simple with full control of management responsibility. Buyer can also purchase as is on long term "Commercial Lease" with management company, see page 11. Contact listing Broker for further details and explanation.

Exclusively Listed By

Financing By

  • Tammy Linden

    Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

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