116 E Main St, Goldendale, WA 98620
sale
$289,000
|
Office
Courtesy Of Coldwell Banker Cascade Real Estate
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.
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Property Features
- Age: Over 50 Years Old
- Cooling System: Heat Pump
- Exterior Type: WoodSiding
- Exterior Type: Brick
- Exterior Type: Concrete
- Heating System: Heat Pump (Heating)
- Heating System: Forced Air
- Legal Description: LOT 5 BLOCK 4 CHATFIELDS FIRST NWNW 21-4-16
- MLSID: 508198034
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