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$ 2,700,000
Est. payment /mo
Price Dropped by $200K
611 W Columbia St Pasco, WA 99301
8,100 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 8,100 sqft
Price per Sqft $333
MLS Listing ID 284669
HOA Y/N No
Year Built 1960
Annual Tax Amount $4,326
Lot Size 0.550 Acres
Acres 0.55
Property Description
MLS# 284669 Cash flows $173,438 annually, with 3% annual increases. See associated docs Property is Occupied by Candy Mountain Academy, a program funded by ESD 123, this property serves as a supportive learning environment for students in kindergarten through 12th grade. The Academy offers an alternative educational setting focused on early learning subjects and fostering connections within the early learning community.Over $700,000 in improvements have been made to support the program, including new windows, HVAC units, a roof, interior and exterior doors, LED lighting, a secured entry, a fire sprinkler system, and fresh interior and exterior paint. These upgrades make the facility a secure, attractive, and long-term investment opportunity.The tenant has signed a 10-year absolute triple net (NNN) lease with two 5-year renewal options. The lease includes 3% annual rent increases, offering investors a steadily compounding return.Don't miss out on this opportunity to secure a reliable income stream.Note: Listing agents are also owners of the property.
Location
State WA
County Us
Interior
Inclusions Na
Exterior
Parking Features 11 - 20 Spaces
Others
Acceptable Financing Exclusive Right
Listing Terms Exclusive Right
Listed by NAI Tri-Cities Commercial
School and business data provided by Attom Data.