Downtown Washougal Executive Suites Building
Listing Number: 062221-864003
Listing Details
- Down Payment: --
- Sales: $0
- Seller's Discretionary Earnings: $0
- Inventory: $0
- Furniture, Fixtures, and Equipment: $0
- Employees:
- Year Established:
- Reason for Selling: cashing out
Business Description
This strong-performing and well-established office building comprises 16 executive suites, offering generous Common Areas, including a lobby area, lunchroom, and two bathrooms per level. With quick access to HWY-14, it's just a couple of blocks from Downtown Washougal and one of the best places for a lunch walk or ride, just one block from the pedestrian tunnel to the beautiful Columbia River Front Trail.
The building is currently 100% leased out, with all tenants on 1-year leases, and a waiting list is usually established for any upcoming openings. The current average tenancy duration throughout the building is about 3 years. Unit mix of 15 individual suites from 90-150SF, and one 700 SF 3-room Suite
With expiration dates spread throughout the year, this gives owner-users the flexibility to acquire spaces for their own needs over a short period of time.
The building is well maintained, and the off-street parking lot has 8 unassigned spaces.
NOI of $82,676 and offered at an Actual Cap Rate of 6.67%