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Landon Center (Bldg A) 4206 W 24th Ave

6,000 SF 100% Leased Office Building Kennewick, WA 99338 £1,066,169 (£178/SF) 6.50% Net Initial Yield

Executive Summary

This offering is an excellent option for an investor. 4206 W 24th is a 6,000 sf office building and has a great tenant mix as well as variety of suite sizes. The property has a strong rental history and is located in highly sought after area that has excellent access from all directions.
All leases all gross and slightly below market, which allows for the new buyer to increase the return as the leases turn over.
4256 w 24th (formerly building B), will be available for purchase after the sale of 4206 or simultaneously.

Financial Summary (Actual - 2024)

Annual Annual Per SF
Gross Rental Income £92,348 £7.70
Other Income - -
Vacancy Loss - -
Effective Gross Income £92,348 £7.70
Taxes £5,546 £0.46
Operating Expenses £17,502 £1.46
Total Expenses £23,047 £1.92
Net Operating Income £69,301 £5.78

Financial Summary (Actual - 2024)

Gross Rental Income
Annual £92,348
Annual Per SF £7.70
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual £92,348
Annual Per SF £7.70
Taxes
Annual £5,546
Annual Per SF £0.46
Operating Expenses
Annual £17,502
Annual Per SF £1.46
Total Expenses
Annual £23,047
Annual Per SF £1.92
Net Operating Income
Annual £69,301
Annual Per SF £5.78

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
6,000 SF
Building Class
B
Year Built/Renovated
2008/2011
Price
£1,066,169
Price Per SF
£178
Net Initial Yield
6.50%
NOI
£69,302
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
6,000 SF
Building FAR
0.08
Lot Size
1.72 AC

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
110893BP3889001
Land Assessment
£507,771 (2023)
Improvements Assessment
£1,565,781 (2023)
Total Assessment
£2,073,552 (2023)
Annual Taxes
£5,546 (£0.92/sf)
Tax Year
2024
  • Listing ID: 34267371

  • Date on Market: 21/12/2024

  • Last Updated:

  • Address: 4206 W 24th Ave, Kennewick, WA 99338

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