41711 State Route 2 52,124 SF 100% Leased Industrial Building Gold Bar, WA 98251 $6,300,000 ($120.87/SF) 12% Cap Rate
INVESTMENT HIGHLIGHTS
- Level site is improved with four steel frame industrial/warehouse buildings, one mobile home used as an office, and a retail building.
EXECUTIVE SUMMARY
The subject’s 5.30-acre site is located at 41711 State Route 2 in Gold Bar, Washington. The level site is improved with four steel frame industrial/warehouse buildings, one mobile home used as an office, and a retail building, for a total rentable building area of 52,124 SF. The retail building of 3,600 SF is occupied by two tenants. The industrial space is leased or subleased by four additional tenants. The owner occupies a portion of the industrial space to store and refurbish commercial refrigeration equipment and mobile home for office space. The improvements were constructed at various times and range from the 1970s to 2011, with upgrades and improvements still ongoing. Most of the subject improvements were constructed since 1999.
PROPERTY FACTS
| Price | $6,300,000 |
| Price Per SF | $120.87 |
| Sale Type | Investment |
| Cap Rate | 12% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 5.30 AC |
| Rentable Building Area | 52,124 SF |
| No. Stories | 1 |
| Year Built | 1976 |
| Parking Ratio | 0.27/1,000 SF |
| Clear Ceiling Height | 12’ |
| No. Dock-High Doors/Loading | 4 |
| Zoning | GC - General Commercial (GC), City of Gold Bar |
PROPERTY TAXES
| Parcel Number | 270908-001-012-00 | Improvements Assessment | $2,062,000 |
| Land Assessment | $688,000 | Total Assessment | $2,750,000 |
