Finally, the Kmart Building is a Blue Light Special!
Finally, after years of neglect, the Department of Natural Resources is going to sell off the Kmart building in Olds Station in downtown Wenatchee.
This building is $107,418 square feet on about nine acres of land. The DNR recently had it appraised at $4.25 million. Had they sold it a couple of years ago, it would have fetched much better than that.
Today, the commercial real estate market is in meltdown. Financing a project like this is almost impossible. Buying a building like this without a tenant is a high stakes game.
So, I expect the price at auction, planned for June 26 in the Chelan County Courthouse, will be well below appraised value. If you’re up for a high stakes game of real estate, this could be your hand to play!
For more, go to Kmart in the Wenatchee World. Click if you want some help with high stakes real estate in Chelan County,
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