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514 S Washington St 3,969 SF Office Building Spokane, WA 99204 $2,000,000 ($503.91/SF) 5.55% Cap Rate
Investment Highlights
- Located on the South Hill
- 14 Parking Stalls
- 8 Office Spaces
Executive Summary
- Single-Tenant Medical Investment
- National Tenant
- Located On The South Hill
- 14 Parking Stalls
- 2.5% Annual Rent Increases
- Currently On Year Two of 5 on current lease term
- Two More Options To Extend For An Additional Three (3) Years Each
- Maximum Lease Potential Through 2035
- NOI is estimated to equal annual base rent, leases are structures as modified gross. Buyer to verify.
- National Tenant
- Located On The South Hill
- 14 Parking Stalls
- 2.5% Annual Rent Increases
- Currently On Year Two of 5 on current lease term
- Two More Options To Extend For An Additional Three (3) Years Each
- Maximum Lease Potential Through 2035
- NOI is estimated to equal annual base rent, leases are structures as modified gross. Buyer to verify.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
3,969 SF
Building Class
B
Year Built/Renovated
1939/2007
Price
$2,000,000
Price Per SF
$503.91
Cap Rate
5.55%
NOI
$111,000
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,969 SF
Building FAR
0.35
Lot Size
0.26 AC
Opportunity Zone
Yes
Zoning
CB
Parking
14 Spaces (3.53 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
1 1
Very walkable
80/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 35191.4404 | Improvements Assessment | $1,249,800 |
| Land Assessment | $258,750 | Total Assessment | $1,508,550 |
Property Taxes
Parcel Number
35191.4404
Land Assessment
$258,750
Improvements Assessment
$1,249,800
Total Assessment
$1,508,550
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