Listed by SVN | Cornerstone
Unpriced
Stepping Stones Professional Office Building
Details
APN 25292.0408
Property Type Office
Sub Type Medical Office
Square Footage 19,320
Occupancy 100%
Tenancy Single
Class A
Year Built 2005
Year Renovated 2023
Buildings 1
Acreage 2.800
Zoning LI
Well-maintained, owner-occupied professional office property offered for sale with a leaseback
Marketing description
SVN Cornerstone is pleased to present the Stepping Stones Professional Office Building, a well-maintained, owner-occupied professional office property offered for sale with a leaseback to the operating business. The property is home to Stepping Stones, a highly regarded, family-centered pediatric therapy practice providing physical therapy, occupational therapy, speech therapy, and feeding therapy services. With an established operating history and a strong reputation in the community, the leaseback structure offers investors the opportunity to acquire a stabilized asset supported by a mission-driven medical tenant.
Investment highlights
- NNN lease designed to be largely passive, w/ the Landlord's obligations limited to the roof.
- Single tenant net leased investment - New 7-year lease with 3, 5-year options, and 2% annual increases.
- Average Cap for initial term: 7.81
- Newer construction, recently renovated (2023), with high-quality materials, customized to the tenant's operations.
- Located conveniently with quick access to I-90 and the Spokane International Airport.
- Large 2.8 acre, corner lot provides visibility with 130 stalls (6.7 stalls/ksf) parking ratio.
- Stepping Stones Pediatric Therapy is a very strong, high credit provider with a large market share in the Spokane community.
- Building includes multiple physical therapy rooms, offices, indoor playground, kitchen, lobby, waiting area, long hallways, multiple restrooms, and staff rooms.
Listing Contacts
Listed by SVN | Cornerstone
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