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Listed by:CB Cascade RE - Lake Chelan • Adam Rynd
$ 289,000
Est. payment | /mo
4,792 Sqft Lot
$ 289,000
Est. payment | /mo
4,792 Sqft Lot
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Goldendale
MLS Listing ID 2573047
Style 60 - Comm Bldg Und 10K
Year Built 1948
Annual Tax Amount $1,110
Lot Size 4,792 Sqft
Lot Dimensions 100' x 48'
Property Sub-Type Commercial Industrial
Property Description
WA State-Leased Office Building with 8.0% Cap Rate Leased Through 2031 Rare opportunity to acquire a stabilized, single-tenant investment property in downtown Goldendale leased to the Washington State Employment Security Department (ESD) under a recently renewed lease extending through October 31, 2031. This professionally maintained office building provides dependable, long-term income backed by a State of Washington agency, offering investors the security and predictability of an affordable and high-return government-leased property. The property features quality office space, dedicated parking, excellent visibility, and a prominent Main Street location serving downtown Goldendale in Klickitat County. With an attractive 8.0% capitalization rate and 10.34 Gross Rent Multiplier, the property delivers strong in-place cash flow and a compelling risk-adjusted return. The long remaining lease term minimizes vacancy concerns while providing stable passive income with minimal management requirements. Government-leased assets with this combination of yield, lease term, and credit-quality tenancy are rarely available. Ideal for 1031 exchange buyers, retirement portfolios, and investors seeking reliable income and long-term stability. An exceptional opportunity to acquire a high-quality office investment backed by one of Washington's most creditworthy tenants.
Location
State WA
County Klickitat
Area 501 - Klickitat County
Interior
Flooring Vinyl Plank, Carpet
Fireplace false
Exterior
Exterior Feature Cement/Concrete, Stone, Wood
Roof Type Composition,Flat
Building
Sewer Sewer Connected
Water Public
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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NEARBY SCHOOL & BUSINESS