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1600 W 1st St
Newport, WA 99156

Price Upon Request

Office For Sale  •  8,952 SF

Property Details

  • Property Type Office
  • Total Building Size 8,952 SF
  • Lot Size 2.08 AC
  • Building Class B
  • Year Built 2005
  • Tenancy Multiple
  • Zoning Commercial
0 Transit Score
19 Walk Score

Highlights

Two Tenant State of Washington Investment Property with AAA (Moody’s) Credit Rating
Going-In Capitalization Rate of 7.56% with a Built-In Pro-Forma Capitalization Rate of 8.09%
Brand New Build-to-Suit for the Department of Social and Health Services in 2005
Brand New 5-Year Lease Signed September 2020 with the Department of Social and Health Services with a 5-Year Option
Property has Been Recently Upgraded with all New Carpet Tiles, Paint Touch-Up, Parking Lot Sealed and Re-Striped

Financial Summary (Actual)

Net Operating Income: $132,264 USD (2019)
Total Expenses: $40,014 USD

Major Tenants

Tenant SF Occupied Lease End Date
Department of Social and Health Services 7,742 SF 8/31/2015
Eastern Washington University - Early Head Start 1,200 SF 7/1/2024
Social & Health Service Department

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 48
Type: Surface
Included in Rent: Yes