514 S Washington St, Spokane, WA 99204
- $2,000,000
- 11,250
- SqFt
- List Price
- $2,000,000
- MLS#
- 202625029
- Status
- ACTIVE
- City
- Spokane
- Acres
- 0.26
- Living Area
- 11,250
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.
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Additional Information
- Year Built
- 1939
- School District
- Spokane Dist 81
- Frontage
- Paved Road, City Street
- Area/Grid
- SW Urban S I-90
- MLS Area/Grid#
- A220/032
- Acres MOL
- 0.26
- Lot Size
- 11,326
- Basement
- None
- Features
- Hndicap Ac
- Heating/Cooling
- Electric, Forced Air
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Listing courtesy of SARMLS / LT Real Estate
Listings last updated . All information provided is deemed reliable but is not guaranteed and should be independently verified.