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Listed by Dallas Lightner • LT Real Estate
$ 2,000,000
Est. payment /mo
New
514 S Washington St Spokane, WA 99204
11,250 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 11,250 sqft
Price per Sqft $177
MLS Listing ID 202625029
Year Built 1939
Lot Size 0.260 Acres
Lot Dimensions 0.26
Property Sub-Type Commercial
Property Description
Rare opportunity to acquire a single-tenant medical investment located on Spokane's South Hill in the heart of the medical district, with close proximity to two of the region's largest hospitals. The property is leased to Hanger Clinic Inc., a nationally recognized leader in prosthetic and orthotic care with more than 925 locations nationwide and backed by a corporate guaranty. The investment features 14 dedicated parking stalls, 2.5% annual rent increases, and two additional three-year lease options, providing potential lease term through 2035. The property is offered at $2,000,000 and features a 3,969 SF building originally constructed in 1939 and updated in 2007. The property generates an NOI of $110,944, representing a 5.55% cap rate.
Location
State WA
County Spokane
Rooms
Basement None
Interior
Heating Electric, Forced Air
Cooling Central Air
Exterior
View Y/N true
Roof Type Flat
Total Parking Spaces 14
Building
Story 1
Structure Type Brick Veneer,Fiber Cement
Schools
School District Spokane Dist 81
Others
Acceptable Financing Conventional, Cash, Commercial
Listing Terms Conventional, Cash, Commercial
NEARBY SCHOOLS & PROPERTIES
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