Landon Center (Bldg A) | 4206 W 24th Ave
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Landon Center (Bldg A) 4206 W 24th Ave
6,000 SF 100% Leased Office Building Kennewick, WA 99338 $1,340,385 ($223/SF) 6.50% Cap Rate
Executive Summary
This offering is an excellent option for an investor. 4206 W 24th is a 6,000 sf office building and has a great tenant mix as well as variety of suite sizes. The property has a strong rental history and is located in highly sought after area that has excellent access from all directions.
All leases all gross and slightly below market, which allows for the new buyer to increase the return as the leases turn over.
4256 w 24th (formerly building B), will be available for purchase after the sale of 4206 or simultaneously.
All leases all gross and slightly below market, which allows for the new buyer to increase the return as the leases turn over.
4256 w 24th (formerly building B), will be available for purchase after the sale of 4206 or simultaneously.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$116,100
|
$9.68
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$116,100
|
$9.68
|
| Taxes |
$6,972
|
$0.58
|
| Operating Expenses |
$22,003
|
$1.83
|
| Total Expenses |
$28,975
|
$2.41
|
| Net Operating Income |
$87,125
|
$7.26
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $116,100 |
| Annual Per SF | $9.68 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $116,100 |
| Annual Per SF | $9.68 |
| Taxes | |
|---|---|
| Annual | $6,972 |
| Annual Per SF | $0.58 |
| Operating Expenses | |
|---|---|
| Annual | $22,003 |
| Annual Per SF | $1.83 |
| Total Expenses | |
|---|---|
| Annual | $28,975 |
| Annual Per SF | $2.41 |
| Net Operating Income | |
|---|---|
| Annual | $87,125 |
| Annual Per SF | $7.26 |
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
6,000 SF
Building Class
B
Year Built/Renovated
2008/2011
Price
$1,340,385
Price Per SF
$223
Cap Rate
6.50%
NOI
$87,126
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
6,000 SF
Building FAR
0.08
Lot Size
1.72 AC
1 of 1
PROPERTY TAXES
| Parcel Number | 110893BP3889001 | Total Assessment | $2,606,870 (2023) |
| Land Assessment | $638,370 (2023) | Annual Taxes | $6,972 ($1.16/SF) |
| Improvements Assessment | $1,968,500 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
110893BP3889001
Land Assessment
$638,370 (2023)
Improvements Assessment
$1,968,500 (2023)
Total Assessment
$2,606,870 (2023)
Annual Taxes
$6,972 ($1.16/SF)
Tax Year
2024
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Landon Center (Bldg A) | 4206 W 24th Ave
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