For Sale
$3,800,000

19 Southpoint LnWalla Walla, WA 99362

Class A Medical Office, Fee Simple Ownership

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional Class A medical office building, totaling 10,600 square feet, presents a unique investment opportunity in Walla Walla, WA. Located at 19 Southpoint Lane, 99362, this single-story, 2008-built facility boasts a desirable location within a thriving medical corridor, exhibiting zero percent submarket vacancy. The property features a modern design, including a glass cupola and atrium, and benefits from recent upgrades totaling approximately $83,000, encompassing parking lot improvements (2023) and exterior enhancements (2019). Ample parking is provided with 88 spaces on a 22,651 square foot lot. Currently leased to a credit-rated tenant (Walla Walla Clinic, partnered with Privia Health), the property is offered at $3,800,000 ($358/sq ft) on a NNN lease. The tenant's lease expires December 31, 2026, with no renewal options, presenting an ideal opportunity for an owner-user or investor seeking control in a market with no new medical office supply. The building's proximity to Providence Urgent Care and other medical providers ensures strong tenant demand in this robust healthcare market. Walla Walla's diverse economy, fueled by tourism, education, and healthcare, further strengthens the property's long-term value. The current tenant's intention to vacate is due to their consolidation to a nearby leased medical campus, where their ground lease has approximately 13 years remaining. The lack of a ground lease extension from the lessor (Providence Health) underscores the unique opportunity for ownership control in this high-demand location.

Highlights

  • 10,600 SF Class A medical office building in Walla Walla, WA, partnered with Privia Health.
  • $83,000 in recent property improvements including parking lot (2023) and exterior enhancements (2019).
  • Zero percent submarket vacancy in a tight medical office market with no new supply.
  • Prime location near Providence Urgent Care and other medical facilities.
  • Investment opportunity for owner-users or investors upon lease expiration 12/31/2026.
  • Strong local economy driven by tourism, education (Whitman College), and healthcare.

Property Details for 19 Southpoint Ln

Property type
Office properties, Medical offices
Square Feet
10,600 SF
Class
A
Year Built
2008

Location Insight

City
Walla Walla
County
Walla Walla
State
Washington
Latitude
46.0532907
Longitude
-118.3294071
19 Southpoint Ln, Walla Walla, Washington

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19 Southpoint Ln
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