1600 W 1st St | Newport, WA 99156
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- LoopNet Team
1600 W 1st St
Newport, WA 99156
DSHS Building - Long Term Tenant Over 14% CoC · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Two Tenant State of Washington Investment Property with AAA (Moody’s) Credit Rating
- Brand New Build-to-Suit for the Department of Social and Health Services in 2005
- Property has Been Recently Upgraded with all New Carpet Tiles, Paint Touch-Up, Parking Lot Sealed and Re-Striped
- Going-In Capitalization Rate of 7.56% with a Built-In Pro-Forma Capitalization Rate of 8.09%
- Brand New 5-Year Lease Signed September 2020 with the Department of Social and Health Services with a 5-Year Option
PROPERTY FACTS
Property Type
Building Size
8,952 SF
Building Class
B
Year Built
2005
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,476 SF
Building FAR
0.10
Lot Size
2.08 AC
Zoning
Commercial - Commercial Zoning
Parking
48 Spaces (5.36 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,405,437 | |
| Land Assessment | $162,100 | Total Assessment | $1,567,537 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$162,100
Improvements Assessment
$1,405,437
Total Assessment
$1,567,537
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