For Sale
$3,600,000

545 Rainier BlvdIssaquah, WA 98027

Prime Issaquah Office Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional Class A, 9,117 square foot executive office building at 545 Rainier Blvd N, Issaquah, WA 98027 presents a compelling owner/user or value-add investment opportunity. The three-story building, constructed in 1982 and extensively renovated in 2023, sits on a 15,200 square foot lot and boasts 29 units, currently 100% occupied. All tenants are on month-to-month leases, providing significant potential for future rent increases. The property features a new roof, private balconies, showers, a sauna, and ample parking with 25 spaces. Located in the heart of Issaquah's central business district (CBD), the building benefits from its proximity to numerous shops and restaurants. The asking price is $3,600,000, representing a pro-forma cap rate of 8.00% and a price per square foot of $394.87. This is a rare chance to acquire a fully leased, high-demand property with substantial upside potential in a thriving Issaquah location. The property's APN is 282406-9030. The gross lease structure ensures consistent income. This is a multi-tenant building with no credit rating required for tenants.

Highlights

  • 9,117 SF Class A office building in Issaquah, WA.
  • Three-story building on a 15,200 SF lot, fully leased with 29 units, primarily month-to-month tenants.
  • Recently renovated (2023) with a new roof, private balconies, showers, sauna, and 25 parking spaces.
  • Located in Issaquah's central business district, offering proximity to shops and restaurants.
  • Asking price: $3,600,000, representing an 8.00% pro-forma cap rate and $394.87/SF.

Property Details for 545 Rainier Blvd

Property type
Office properties
Square Feet
9,117 SF
Class
A
Year Built/Renovated
1982/2023
Buildings
1
Stories
3
Units
29

Location Insight

City
Issaquah
County
King
State
Washington
Latitude
47.5355767
Longitude
-122.0377499
545 Rainier Blvd, Issaquah, Washington

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545 Rainier Blvd
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