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34395816
34395826

1370 Port Drive, Clarkston, WA 99403 For Sale

OS
WA WA 22008121
SVN | Cornerstone
GB
WA 17968
SVN | Cornerstone
Listed by SVN | Cornerstone
$4,500,000
2 days on market
Updated 1 day ago
Opportunity zone

Clarkston Industrial Park

Details
APN 11320001200030000
Property Type Industrial
Sub Type Warehouse, Distribution
Square Footage 67,853
Cap Rate 7.98%
NOI $358,910
Occupancy 82.5%
Tenancy Multi
Lease Type NNN
Price per SqFt $66
Year Built 1977
Acreage 5.210
Zoning Heavy Industrial
Ground Lease No
Ceiling Height 25 ft
Dock High Doors 34

Industrial | 7.98% CAP | 67,853 SqFt

Marketing description

Multi-tenant industrial distribution building located at Port Drive in the Port of Clarkston, WA. The property offers efficient access to regional highways and proximity to Lewiston, Idaho. Constructed in 1977, the concrete tilt-up building sits on 5.21 acres of deeded land adjacent to the Port.

The building contains a net rentable area of 67,853 SF with a 65,472 SF footprint (528’ x 124’), 25-foot clear height, and circulation throughout the site. The roof is supported by wood glu-lam beams with a membrane-covered plywood deck.

The property is currently 82.5% occupied, with six separate suite entrances, two main office areas, and common area restrooms. Existing tenants with office include Rousseau (4,762 SF two-level office) and FedEx (960 SF office). Office finishes are of standard quality with drywall, suspended ceilings, electric HVAC, and carpet/tile flooring.

The warehouse is configured for distribution use with 34 dock-high loading doors along the rear, two large overhead drive-in doors at each end, and wet sprinkler coverage. Interior improvements include two non-load bearing demising walls with openings for drive-through circulation. The warehouse areas are unheated and uninsulated.

This offering presents investors and owner-users with an asset that is near stabilized, while also providing immediate upside through lease-up of the remaining vacancy.

Investment highlights

  • Concrete Tilt-Up. Built in 1977
  • Current Tenants: FedEx, Inland 465, Rousseau Co., and XPO Logistics Freight
  • Three New Lease Renewals
  • Inland465 (Paper Company) has occupied their leased space in the building for 20+ years
  • Attractive low entry basis, below replacement value
  • 34 Dock Doors, 2 Grade Doors, 25' Clear height, Wet Sprinklered
  • 62,131 ± SF of Distribution/Warehouse space
  • 5,722 ± SF of Office space (8.43%)

Listing Contacts

OS
WA WA 22008121
SVN | Cornerstone
GB
WA 17968
SVN | Cornerstone
Listed by SVN | Cornerstone

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$358,909.80
$29,909.15/mo

Valuation Metrics

0
DSCR
7.98%
Cap Rate
7.98%
ROI

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Additional Information

Name
Omar Sadaoui
License
WA 22008121
Brokerage Phone
5093212000
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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