4804 W Clearwater Ave - Medical FOR SALE


Kennewick, WA 99336
$3,625,000 USD
949-724-5552
4804 W Clearwater Ave, Kennewick, WA for Sale
$3,625,000 USD
Medical - FOR SALE
1/10
null | 5.6% Cap Rate

4804 W Clearwater Ave
Kennewick, WA 99336


HIGHLIGHTS

  • 3.0% Annual Increases – Recent 5 Year Option Extension
  • Large 4.17 Acre Land Parcel with Approximately 2 Acres of Excess Land – Long Term Upside Potential
  • Corporate Lease - Providence Health & Services - One of the Largest Health Systems in the Unites States
  • Positioned on W Clearwater Avenue – Traffic Count Exceeding 24,000 VPD - Certified Opportunity Zone
  • Strong Demographics – Over 180,500 Residents within 5 Mile Radius - Average Household Income Over $111,500 within 5 Mile Radius

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer to investors an excellent opportunity to acquire the single tenant Kadlec Urgent Care in Kennewick, WA. The corporate lease is with Providence Health & Services (parent company) operates 51 hospitals and over 1,000 clinics and is one of the largest health systems in the US. The Tenant just exercised their first option and has over 5 years of least term remaining with one 5-year option period. With strong 3% annual rent increases and minimal landlord responsibilities, this asset is ideal for a hands-off investor seeking inflation resistant cash flows. Located within a certified opportunity zone, the 7,111 SF building on large 4.17-acre parcel is positioned along W Clearwater Avenue (24,000 VPD) and has long term upside potential with approximately 2 acres of development excess land. Nearby retailers include WinCoFoods, Safeway, REI, Harbor Freight, Maverik, Walgreens, McDonald’s, Starbucks, Dutch Bros Coffee, Carl’s Jr. and more. This is a great opportunity to purchase a net leased medical/retail asset in Washington with a strong national healthcare provider, above average rent increases and development potential providing internet resistant income for years to come.

FOR SALE DETAILS

PRICE

$3,625,000 USD

PRICE/SF

$518 USD /SF

CAP RATE

5.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kadlec Urgent Care

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

4.17 AC

LAND SF

181,645 SF

ZONING

-

APN/PARCEL ID

1-3399-402-0059-011

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

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Jereme SnyderColliersMore Info
949-724-5552

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