Dorothy Klingeman Property Trust 716 E Main St 4,884 SF 73% Leased 4-Star Retail Building Othello, WA 99344 $698,000 ($142.92/SF)

This property is located at the intersection of 7th Avenue and Main Street. The location is on one of the main intersection thoroughfares of Othello giving all businesses high exposure to the public. The property is 4,884 sf divided into 5 rental units. There are four current tenants occupying 3,434 sf, beauty salon, driving school, massage therapist and lash/brow/tanning salon with a vacant 5th area, 1,339 sf, that could be used as a storage or distribution center. There are 12 paved parking spaces in front of the building with three to four additional street parking spaces located on Main Street with 3 additional street parking spaces on 7th Avenue for the two offices and two paved parking spaces along the alley. The exterior finish is concrete block with updated flat roof TP membrane cover. The buiding was built in 1965 and has had continuous maintenance on the interior and exterior improvements. The Appraiser lists the overall condition of the building as good. The building contains commercial carpet or wood and vinyl flooring throughout. The interior walls are drywall with wood trim. Each unit contains its own HVAC system and a half bathroom.
• Roofs on 3/4 of building are white TP membrane roofing installed in 2007 (30-year roof). Roof on 1/4 of building, Studio 7, is a white silicone roof and was installed in 2023 (10-year warranty). All roofs are in great shape and have no leaks. All rain and snow roof drainage goes into gutters with down spouts going to the west side and the south side of the building.
• The exterior was painted in 2022.
• A new sidewalk and industrial steel railing were installed in front of the building in 2021.
• HVAC systems are maintained by contract with Basin Refrigeration, Moses Lake, WA twice a year; fall/spring. We have had the same service tech for 7 years and he knows the systems well.
• Both offices on 7th Avenue have been updated with paint, flooring, and plumbing in 2023.
• Cruisers Driving Academy and Studio 7 were remodeled in the last 5-10 years.
• Utilities include City water, sewer and garbage; Cascade Natural Gas for heat and water heater, Avista for power.
• All renters have current lease agreements.