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214 Pine Street St 2,100 SF 100% Leased Office Building Okanogan, WA 98840 $425,000 ($202.38/SF) 6% Cap Rate
Investment Highlights
- Fully renovated in 2006, and remodeled to tenant's specifications in 2015 and more planned for 2026
- New 5-Year lease with Edward Jones, who has been in the building since 2015
- Historic Gem with curb appeal
Executive Summary
New 5-year lease with Edward Jones commenced 2/1/26 with 2.75% annual escalations. Beautifully remodeled historic brick building located in Downtown Historic District was completely renovated in 2006 to code, including new membrane roof, refurbished brick exterior, central ac/heat, and has many original features, including light fixtures, unique windows, skylights, and custom reception desk made from original mahogany. Main floor has 10' ceilings, open reception area, 3 offices, kitchenette, storage room, ADA bathroom + daylight basement with full kitchen and bathroom w/shower & storage room.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$29,180
|
$13.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$29,180
|
$13.90
|
| Taxes |
$2,353
|
$1.12
|
| Operating Expenses |
$1,326
|
$0.63
|
| Total Expenses |
$3,679
|
$1.75
|
| Net Operating Income |
$25,501
|
$12.14
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $29,180 |
| Annual Per SF | $13.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $29,180 |
| Annual Per SF | $13.90 |
| Taxes | |
|---|---|
| Annual | $2,353 |
| Annual Per SF | $1.12 |
| Operating Expenses | |
|---|---|
| Annual | $1,326 |
| Annual Per SF | $0.63 |
| Total Expenses | |
|---|---|
| Annual | $3,679 |
| Annual Per SF | $1.75 |
| Net Operating Income | |
|---|---|
| Annual | $25,501 |
| Annual Per SF | $12.14 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
2,100 SF
Year Built/Renovated
1929/2006
Price
$425,000
Price Per SF
$202.38
Cap Rate
6%
NOI
$25,500
Percent Leased
100%
Building Height
2 Stories
Typical Floor Size
1,050 SF
Building FAR
2.41
Lot Size
0.02 AC
Zoning
commercial
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Edward Jones
- Finance and Insurance
- 2,100 SF
- -
- Single Net
- Jan 2031
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Edward Jones | Finance and Insurance | 2,100 SF | - | Single Net | Jan 2031 |
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214 Pine Street St
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