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Pioneer Plaza 1953 7th Ave 13,950 SF 100% Leased Office Building Longview, WA 98632 $3,499,999 ($250.90/SF) 7.63% Cap Rate
INVESTMENT HIGHLIGHTS
- 7.6% CAP Rate
- Reliable Long-Term Tenants
- Elevator Access
EXECUTIVE SUMMARY
If you're seeking exceptional cash flow, look no further. Pioneer Plaza presents a unique opportunity to acquire one of Longview’s premier state-occupied office complexes. This well-maintained building spans 13,950 SF across two floors, with convenient elevator access. Situated on 4 separate tax parcels, the property encompasses 51,130 SF of land. The complex underwent significant renovations in 2004 and 2019, along with multiple interior upgrades over the years. It boasts reliable long-term tenants and offers a strong, consistent income stream with an attractive 7.6% Cap Rate/Return. This is an outstanding opportunity to add a high-performing asset to your portfolio. Contact us today for further details.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$322,945
|
$23.15
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$322,945
|
$23.15
|
| Taxes |
$17,103
|
$1.23
|
| Operating Expenses |
$38,763
|
$2.78
|
| Total Expenses |
$55,866
|
$4.00
|
| Net Operating Income |
$267,079
|
$19.15
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $322,945 |
| Annual Per SF | $23.15 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $322,945 |
| Annual Per SF | $23.15 |
| Taxes | |
|---|---|
| Annual | $17,103 |
| Annual Per SF | $1.23 |
| Operating Expenses | |
|---|---|
| Annual | $38,763 |
| Annual Per SF | $2.78 |
| Total Expenses | |
|---|---|
| Annual | $55,866 |
| Annual Per SF | $4.00 |
| Net Operating Income | |
|---|---|
| Annual | $267,079 |
| Annual Per SF | $19.15 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
13,950 SF
Building Class
C
Year Built/Renovated
1978/2019
Price
$3,499,999
Price Per SF
$250.90
Cap Rate
7.63%
NOI
$267,079
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,975 SF
Building FAR
0.27
Lot Size
1.17 AC
Zoning
C02
Parking
78 Spaces (2.72 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Department of Corrections
- Public Administration
- 5,923 SF
- -
- Modified Gross
- May 2028
-
- Administrative and Support Services
- 1,000 SF
- -
- Modified Gross
- Feb 2026
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| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Department of Corrections | Public Administration | 5,923 SF | - | Modified Gross | May 2028 | |
|
|
Administrative and Support Services | 1,000 SF | - | Modified Gross | Feb 2026 |
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Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,248,100 | |
| Land Assessment | $380,280 | Annual Taxes | $17,103 ($1.23/SF) |
| Improvements Assessment | $1,867,820 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$380,280
Improvements Assessment
$1,867,820
Total Assessment
$2,248,100
Annual Taxes
$17,103 ($1.23/SF)
Tax Year
2024
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Pioneer Plaza | 1953 7th Ave
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