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29481141
29481147

214 Pine St, Okanogan, WA 98840

MB
ID ID DB29247
Paul Kenny Matt Bogue Commercial Real Estate
Listed by Paul Kenny Matt Bogue Commercial Real Estate
$449,500
132 days on market
Updated 16 days ago

Historic Jewel Box with New 5-Year Edward Jones Lease

Details
APN 1250060403
Property Type Office
Sub Type Traditional Office
Square Footage 2,100
Net Rentable (SqFt) 2,100
Units 1
Cap Rate 5.67%
NOI $25,500
Occupancy 100%
Tenancy Single
Lease Type Net
Lease Term 15.2
Lease Expiration 01/31/2031
Remaining Term 4.6
Rent Bumps Yes
Lease Options One 5-Year
Price per SqFt $214
Broker Co-Op Yes
Class B
Year Built 1929
Year Renovated 2006, 2015
Buildings 1
Stories 1
Acreage 0.026
Zoning Commercial
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 12/01/2015
Occupancy Date 12/01/2015
Ground Lease No

Office | 5.67% CAP | 2,100 SqFt

Marketing description

New 5-year lease signed with Edward Jones commencing 2/1/26, with annual 2.75% rent escalations. Historic brick building was completely renovated in 2006 to code (including roof, refurbished brick exterior, central a/c & heat), and remodeled by Edward Jones in 2015, and has undergone updates since in compliance with tenant’s standards. Property has been well-maintained. Landlord responsibilities are taxes, insurance and exterior maintenance, not including snow removal.

Property is located in the downtown historic district, with old-style charm and many original features, including light fixtures, unique windows, skylights, and custom reception desk from original mahogany. Main floor has 10’ ceilings, open reception area, 3 offices, kitchen area, storage room and ADA bathroom. Daylight basement is a large room with full kitchen, and bathroom with shower + storage room.

Excellent hands-off bite size investment property!

Listing Contacts

MB
ID ID DB29247
Paul Kenny Matt Bogue Commercial Real Estate
Listed by Paul Kenny Matt Bogue Commercial Real Estate

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$25,500.00
$2,125.00/mo

Valuation Metrics

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DSCR
5.67%
Cap Rate
5.67%
ROI

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