230 Grant Rd - Office FOR SALE


East Wenatchee, WA 98802
$7,260,000 USD
206-747-4338
230 Grant Rd, East Wenatchee, WA for Sale
$7,260,000 USD
Office - FOR SALE
1/5
null | 7.5% Cap Rate

230 Grant Rd
East Wenatchee, WA 98802


HIGHLIGHTS

  • 100% occupancy with average rent of $20/SF on Modified Gross lease terms
  • Upside potential by converting over time existing modified gross leases to NNN
  • Rare Opportunity - 1st time offered for sale since construction
  • 3 Separate Parcels – Including a neighboring parking lot which may allow future development upside

OVERVIEW

Kidder Mathews is pleased to present the opportunity to acquire Columbia Park, a 100% occupied center featuring a balanced mix of medical office and retail tenants in rapidly growing Wenatchee, WA. Priced well below replacement cost and located on 2.78 acres of land, this is a great opportunity for a savvy investor to increase NOI by converting the existing modified gross leases to NNN and potentially developing an additional building on the neighboring parking lot which is included in the sale. Located in rapidly growing Wenatchee, WA which has seen their population has grown by 23%, since 2000, 60% faster than similarly sized cities. According to Costar.com – Wenatchee has under 2% vacancy rate.

FOR SALE DETAILS

PRICE

$7,260,000 USD

PRICE/SF

$204 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.16 AC

LAND SF

94,090 SF

ZONING

2

APN/PARCEL ID

08-20-00-00068,08-20-00-00071

ASK ABOUT THIS PROPERTY

David GellnerKidder MathewsMore Info
206-747-4338

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David GellnerKidder MathewsMore Info
206-747-4338

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.