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625 B St 5,582 SF 100% Leased Office Building Cheney, WA 99004 $1,275,000 ($228.41/SF) 6.11% Cap Rate
Investment Highlights
- STRONG IN-PLACE INCOME WITH UPSIDE
- DEVELOPMENT OR REPOSITIONING POTENTIAL
- PROXIMITY TO MAJOR GROWTH DRIVERS
- PRIME UNIVERSITY-ADJACENT LOCATION
- AMENITY-RICH ENVIRONMENT
- STRATEGIC REGIONAL ACCESS
Executive Summary
Team Vara is pleased to present a well-established, mixed-use property located in the core of downtown Cheney, Washington. Situated at the intersection of Elm Street, 7th Street, and B Street, the site offers high visibility, convenient access, and close proximity to both residential neighborhoods and the campus of Eastern Washington University.
The 5,582-square-foot professional office building is currently leased to two service-oriented tenants, including GPS Dental, which anchors the property with a long-term lease extending 10.7 years. GPS Dental is a national DSO with 110+ practices across the country and offers a full range of services from preventive care to advanced cosmetic and restorative treatments. Led by two experienced dentists, the practice maintains a loyal and growing patient base supported by hundreds of five-star reviews and strong community engagement.
With its strategic location, durable tenancy, and positioning within a growing university town, this offering presents an attractive opportunity for investors seeking reliable cash flow with long-term growth.
The 5,582-square-foot professional office building is currently leased to two service-oriented tenants, including GPS Dental, which anchors the property with a long-term lease extending 10.7 years. GPS Dental is a national DSO with 110+ practices across the country and offers a full range of services from preventive care to advanced cosmetic and restorative treatments. Led by two experienced dentists, the practice maintains a loyal and growing patient base supported by hundreds of five-star reviews and strong community engagement.
With its strategic location, durable tenancy, and positioning within a growing university town, this offering presents an attractive opportunity for investors seeking reliable cash flow with long-term growth.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
5,582 SF
Building Class
C
Year Built
1972
Price
$1,275,000
Price Per SF
$228.41
Cap Rate
6.11%
NOI
$77,903
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
5,582 SF
Building FAR
0.27
Lot Size
0.47 AC
Zoning
R-3 - Multi-Family Residential
Parking
27 Spaces (4.84 Spaces per 1,000 SF Leased)
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Bike Score®
Very Bikeable (82)
Property Taxes
| Parcel Numbers | Improvements Assessment | $438,500 | |
| Land Assessment | $164,720 | Total Assessment | $603,220 |
Property Taxes
Parcel Numbers
Land Assessment
$164,720
Improvements Assessment
$438,500
Total Assessment
$603,220
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625 B St
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