DSHS Building | 1600 W 1st St
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DSHS Building 1600 W 1st St
8,952 SF 100% Leased Office Building Newport, WA 99156 $1,945,000 ($217/SF) 6.82% Cap Rate
Executive Summary
Fully leased commercial building with Government and State tenants. Seller recently replaced HVAC system throughout entire property ($100K). New 5 year leases in place with options to extend. Long term tenants. Only 45 minutes from Spokane. Current CAP rate is 6.82. Pro-Forma Cap Rate is 7.30 upon commencement of new leases. Main tenant has been at this location for nearly 20 years.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Building Size
8,952 SF
Building Class
B
Year Built
2005
Price
$1,945,000
Price Per SF
$217
Cap Rate
6.82%
NOI
$132,625
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,476 SF
Building FAR
0.11
Land Acres
1.95 AC
Zoning
Commercial - Commercial Zoning
Parking
48 Spaces (5.36 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,405,437 | |
| Land Assessment | $162,100 | Total Assessment | $1,567,537 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$162,100
Improvements Assessment
$1,405,437
Total Assessment
$1,567,537
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DSHS Building | 1600 W 1st St
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