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Independence Square 1766 Fowler St 28,132 SF 49% Leased Office Building Richland, WA 99352 $2,750,000 ($97.75/SF) 8.25% Cap Rate

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Executive Summary

This is a rare opportunity to own/occupy and inherit a national tenant all in one shot. This office building on Fowler is easily accessible, has ample parking and has had extensive updating inside and out. The ProForma Financial Evaluation has this coming in at only an 8.25% cap rate.

Property Facts

Sale Type

Investment or Owner User

Property Type

Office

Building Size

28,132 SF

Building Class

Year Built

1979

Price

$2,750,000

Price Per SF

$97.75

Cap Rate

8.25%

NOI

$226,875

Percent Leased

49%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

11,065 SF

Building FAR

0.76

Lot Size

0.85 AC

Zoning

Parking

39 Spaces (1.92 Spaces per 1,000 SF Leased)

Manufacturing
-
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Sherwin-Williams began in 1866 when Henry Sherwin and Edward Williams opened a paint store in Cleveland, Ohio. The company expanded nationally through the late 19th century by establishing manufacturing facilities. Their business model includes three segments: Paint Stores Group for contractors, Consumer Brands Group for retail sales, and Performance Coatings Group serving industrial markets. The company operates in both professional and DIY markets through company-owned stores and third-party distributors.