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Listed by Bill Almon, Jr Almon Commercial-Residential Real Estate
$ 2,000,000
Est. payment | /mo
14,456 SqFt
$ 2,000,000
Est. payment | /mo
14,456 SqFt
Key Details
Property Type Other Types
Sub Type Commercial Property
Listing Status Active
Purchase Type For Sale
Square Footage 14,456 sqft
Price per Sqft $138
MLS Listing ID 25-3366
Year Built 1971
Annual Tax Amount $10,560
Tax Year 2025
Lot Size 2.000 Acres
Acres 2.0
Property Sub-Type Commercial Property
Land Area 14456
Property Description
THIS OFFERING is for the opportunity to purchase a commercial property consisting of a double net leased medical office building, a cell tower lease and excess commercial development land.
The primary lease is to RPM Rehab, Inc, a 9-location physical therapy clinic, who's been in the building since approximately 2014 and entered into a new 5-year lease in January of 2025 for approximately 82% of the total building with RPM being responsible for 100% of the common area maintenance charges attributable to the property, including taxes and insurance, but excluding the maintenance of the excess land area. RPM occupies approximately 11,846SF of the total building area.
The remaining vacant areas of the building consist of an office area and a garage/storage area, plus an unfinished second story apartment combining to total approximately 2,610SF, while there is also excess land fronting S 24th Ave estimated to consist of approximately 30,000SF that is prime for development.
The primary lease is to RPM Rehab, Inc, a 9-location physical therapy clinic, who's been in the building since approximately 2014 and entered into a new 5-year lease in January of 2025 for approximately 82% of the total building with RPM being responsible for 100% of the common area maintenance charges attributable to the property, including taxes and insurance, but excluding the maintenance of the excess land area. RPM occupies approximately 11,846SF of the total building area.
The remaining vacant areas of the building consist of an office area and a garage/storage area, plus an unfinished second story apartment combining to total approximately 2,610SF, while there is also excess land fronting S 24th Ave estimated to consist of approximately 30,000SF that is prime for development.
Location
State WA
Area 3B - Btwn S 16Th/40Th
Zoning B1 - Prof Bus
Direction Located at 1608 S 24th Ave
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Heat Source Gas, Forced Air
Exterior
Roof Type Built-Up
Building
Sewer Connected
Water Public
Others
Tax ID 181335-21014