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900 S College Ave 792 SF Retail Building College Place, WA 99324 $1,175,000 ($1,483.59/SF) 3.88% Cap Rate
INVESTMENT HIGHLIGHTS
- Stucco and masonry exterior
- Main Thoroughfare in College Place / Foot Traffic/Near College
- Near University
- Metal roof
- Near Retail and Residential
EXECUTIVE SUMMARY
Buyer to verify all information including, but not limited to, square footage, taxes, insurance. Sale is subject to existing 10 year lease with a 10 year option. 7 years remain on first lease. Existing 10-year lease has a 3% per year built-in inflation clause.
Building is approximately 3 yrs. old and designed to require very little maintenance. Steel/concrete outside deck requires little or no maintenance. The lease is a modified NNN lease. Landlord pays property taxes and insurance. Tenant responsible for all utilities, maintenance and their portion of insurance..
Building is approximately 3 yrs. old and designed to require very little maintenance. Steel/concrete outside deck requires little or no maintenance. The lease is a modified NNN lease. Landlord pays property taxes and insurance. Tenant responsible for all utilities, maintenance and their portion of insurance..
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Freestanding
Building Size
792 SF
Building Class
B
Year Built
2022
Price
$1,175,000
Price Per SF
$1,483.59
Cap Rate
3.88%
NOI
$45,625
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.22 AC
Opportunity Zone
Yes
Zoning
Commercial - Zoning to be verified by Buyer
Parking
5 Spaces (6.31 Spaces per 1,000 SF Leased)
Frontage
100’ on College Avenue
AMENITIES
- Bus Line
- Corner Lot
- Fenced Lot
- Tenant Controlled HVAC
- Drive Thru
- Accent Lighting
- Air Conditioning
- Balcony
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 350735602521 | Total Assessment | $322,000 (2024) |
| Land Assessment | $46,300 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $275,700 (2024) | Tax Year | 2025 Payable 2025 |
PROPERTY TAXES
Parcel Number
350735602521
Land Assessment
$46,300 (2024)
Improvements Assessment
$275,700 (2024)
Total Assessment
$322,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025 Payable 2025
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SJP, LLC
900 S College Ave
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