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3467 Galvin Rd

19,292 SF Office Building Centralia, WA 98531 £3,333,742 (£173/SF) 7.07% Net Initial Yield

Investment Highlights

  • Near public transit
  • Roof was replaced in 2016 and resealed in 2021
  • Parking lot was seal coated and restriped in 2021
  • Direct access to Galvin Road
  • Exterior paint was renewed in 2022

Executive Summary

• Long Term Lease
Tenant is Department of Children, Youth, and Families. Tenant has been in the property since 2001 and signed a renewal in 2021, ending in 2026. Tenant has additional options to renew.
• Tenant Responsibilities
Tenant pays for water, sewer, garbage, electricity, natural gas and janitorial.
• Landlord Responsibilities
Property taxes, property assessments, insurance, landscaping and building maintenance & repairs.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
19,292 SF
Building Class
B
Year Built
2001
Price
£3,333,742
Price Per SF
£173
Net Initial Yield
7.07%
NOI
£235,847
Tenancy
Single
Number of Floors
1
Typical Floor Size
19,292 SF
Building FAR
0.23
Land Acres
1.93 AC
Zoning
M1
Parking
95 Spaces (4.92 Spaces per 1,000 SF Leased)

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
023923-002-000
Land Assessment
£296,742
Improvements Assessment
£1,761,157
Total Assessment
£2,057,900
  • Listing ID: 27006451

  • Date on Market: 31/10/2022

  • Last Updated:

  • Address: 3467 Galvin Rd, Centralia, WA 98531

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