542-544 N 5th Ave
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542-544 N 5th Ave
4,320 SF 100% Leased Office Building Sequim, WA 98382 £1,312,232 (£304/SF) 7.07% Net Initial Yield
INVESTMENT HIGHLIGHTS
- High traffic area
- High quality tenants
- Great visability
- High quality leases
EXECUTIVE SUMMARY
This comprises 3 separate leases. All high quality tenants and high quality leases, making this a great investment opportunity. Professional Office Plaza with a high concentration of medical and finance professions. Office condos are close to downtown Sequim shopping and restaurants. Olympic National Forest and Olympic Mountain Range within close proximity. Bike the Olympic Discovery Trail or park your watercraft at John Wayne Marina, just a few short miles away.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
£92,787
|
£21.48
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | £92,787 |
| Annual Per SF | £21.48 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Portfolio Sale
Property Type
Office
Property Subtype
Medical
Building Size
4,320 SF
Building Class
C
Year Built
2007
Price
£1,312,232
Price Per SF
£304
Net Initial Yield
7.07%
NOI
£92,787
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
4,320 SF
Building FAR
0.11
Lot Size
0.87 AC
Opportunity Zone
Yes
Zoning
LD - Lifestyle District
AMENITIES
- Signage
- Accent Lighting
- Reception
- Central Heating
- Partitioned Offices
- Recessed Lighting
- Wooden Floors
- Air Conditioning
- Smoke Detector
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Cardinal Financial
- Finance and Insurance
- 2,000 SF
- £15.08
- NNN
- May 2024
- NW Beauty RX
- Service type
- 2,320 SF
- £15.17
- NNN
- Feb 2029
- Payne Law
- Professional, Scientific, and Technical Services
- 912 SF
- £14.89
- NNN
- May 2024
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Cardinal Financial | Finance and Insurance | 2,000 SF | £15.08 | NNN | May 2024 | |
| NW Beauty RX | Service type | 2,320 SF | £15.17 | NNN | Feb 2029 | |
| Payne Law | Professional, Scientific, and Technical Services | 912 SF | £14.89 | NNN | May 2024 |
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PROPERTY TAXES
| Parcel Number | 80927 | Improvements Assessment | £202,799 |
| Land Assessment | £40,083 | Total Assessment | £242,882 |
PROPERTY TAXES
Parcel Number
80927
Land Assessment
£40,083
Improvements Assessment
£202,799
Total Assessment
£242,882
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542-544 N 5th Ave
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