542-544 N 5th Ave
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542-544 N 5th Ave
4,320 SF 57% Leased Office Building Sequim, WA 98382 $1,650,000 ($382/SF) 7.07% Cap Rate
Investment Highlights
- High traffic area
- High quality tenants
- Great visability
- High quality leases
Executive Summary
This comprises 3 separate leases. All high quality tenants and high quality leases, making this a great investment opportunity. Professional Office Plaza with a high concentration of medical and finance professions. Office condos are close to downtown Sequim shopping and restaurants. Olympic National Forest and Olympic Mountain Range within close proximity. Bike the Olympic Discovery Trail or park your watercraft at John Wayne Marina, just a few short miles away.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$116,670
|
$27.01
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $116,670 |
| Annual Per SF | $27.01 |
Property Facts
Sale Type
Investment
Sale Condition
Bulk/Portfolio Sale
Property Type
Office
Property Subtype
Medical
Building Size
4,320 SF
Building Class
C
Year Built
2007
Price
$1,650,000
Price Per SF
$382
Cap Rate
7.07%
NOI
$116,670
Percent Leased
57%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
4,320 SF
Building FAR
0.11
Lot Size
0.87 AC
Opportunity Zone
Yes
Zoning
LD - Lifestyle District
Amenities
- Signage
- Accent Lighting
- Reception
- Central Heating
- Partitioned Offices
- Recessed Lighting
- Hardwood Floors
- Air Conditioning
- Smoke Detector
MAJOR TENANTS
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Cardinal Financial
- Finance and Insurance
- 2,000 SF
- $18.96
- Triple Net
- May 2024
- NW Beauty RX
- Services
- 2,320 SF
- $19.08
- Triple Net
- Feb 2029
- Payne Law
- Professional, Scientific, and Technical Services
- 912 SF
- $18.72
- Triple Net
- May 2024
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Cardinal Financial | Finance and Insurance | 2,000 SF | $18.96 | Triple Net | May 2024 | |
| NW Beauty RX | Services | 2,320 SF | $19.08 | Triple Net | Feb 2029 | |
| Payne Law | Professional, Scientific, and Technical Services | 912 SF | $18.72 | Triple Net | May 2024 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Fl-Ste 544
- 1,848 SF
- Office
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 544 | 1,848 SF | Office | Full Build-Out | Now |
1st Fl-Ste 544
| Size |
| 1,848 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
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PROPERTY TAXES
| Parcel Number | 80927 | Improvements Assessment | $255,000 |
| Land Assessment | $50,400 | Total Assessment | $305,400 |
PROPERTY TAXES
Parcel Number
80927
Land Assessment
$50,400
Improvements Assessment
$255,000
Total Assessment
$305,400
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542-544 N 5th Ave
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