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Multi Tenant Medical Office 2 Office Properties Offered at $2,611,000 in Richland, WA
EXECUTIVE SUMMARY
Rare opportunity to purchase two extremely well positioned multi
tenant income producing properties. Located in Richland's Medical
district, one block away from the Kadlec Regional Medical Facility
and directly across the street from Richland City Hall. The property
consists of two buildings with a combined square footage of 14,494
square feet on separate lots with a combined size of 1.2 acres. The
property has been meticulously cared for over the past 20 years of
ownership by the seller and shows very well. There is no deferred
maintenance and both buildings had all the HVAC systems replaced in
2019. Both buildings are built on a crawl space which makes it
convenient when doing tenant improvements.
tenant income producing properties. Located in Richland's Medical
district, one block away from the Kadlec Regional Medical Facility
and directly across the street from Richland City Hall. The property
consists of two buildings with a combined square footage of 14,494
square feet on separate lots with a combined size of 1.2 acres. The
property has been meticulously cared for over the past 20 years of
ownership by the seller and shows very well. There is no deferred
maintenance and both buildings had all the HVAC systems replaced in
2019. Both buildings are built on a crawl space which makes it
convenient when doing tenant improvements.
TAXES & OPERATING EXPENSES (ACTUAL - 2024) |
ANNUAL |
|---|---|
| Gross Rental Income |
$241,329
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
$241,329
|
| Taxes |
$21,647
|
| Operating Expenses |
$56,547
|
| Total Expenses |
$78,194
|
| Net Operating Income |
$163,135
|
TAXES & OPERATING EXPENSES (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $241,329 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | $241,329 |
| Taxes | |
|---|---|
| Annual | $21,647 |
| Operating Expenses | |
|---|---|
| Annual | $56,547 |
| Total Expenses | |
|---|---|
| Annual | $78,194 |
| Net Operating Income | |
|---|---|
| Annual | $163,135 |
PROPERTY FACTS
| Price | $2,611,000 | Number of Properties | 2 |
| Price / SF | $110.62 / SF | Individually For Sale | 0 |
| Cap Rate | 6.21% | Total Building Size | 23,603 SF |
| Sale Type | Investment | Total Land Area | 1.21 AC |
| Status | Under Contract |
| Price | $2,611,000 |
| Price / SF | $110.62 / SF |
| Cap Rate | 6.21% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 23,603 SF |
| Total Land Area | 1.21 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 660 Swift Blvd, Richland, WA 99352 | Office | 15,029 SF | 1991 | - |
| 1050 Gillmore Ave, Richland, WA 99352 | Office | 8,574 SF | 1991 | - |
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Multi Tenant Medical Office
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