21 Romance Hill RdBelfair, WA 98528

Property Details for 21 Romance Hill Rd

Year built

2008

Property size (Sq ft)

11,503 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional Class A, 11,503 square foot medical office building presents a compelling investment opportunity. Located at 21 Romance Hill Rd, Belfair, WA 98528, this property boasts three tenants: Virginia Mason Franciscan Health, Peninsula Physical Therapy, and Belfair Dental – all original occupants since the building's construction in 2008/2009, ensuring consistent occupancy. The building features a triple-net (NNN) lease structure, minimizing landlord responsibilities to roof replacement and structure maintenance, with annual rent bumps. The property sits on a 76,514 square foot lot and is zoned MU. The asking price is $5,700,000, representing a price per square foot of $537.68 and a land value of $80.83/SF. The building enjoys a 6.60% cap rate. Recent façade and signage updates enhance the property's curb appeal. Strategically located off WA-3 and Romance Hill Road, this facility is the only urgent care center serving North Mason County, providing excellent visibility and accessibility. This is an ideal 1031 exchange opportunity, with seller financing available. The investment-grade tenancy, coupled with the recession-resistant healthcare sector, makes this a highly attractive and stable investment. The property's APN is 12332-50-90041.

Location Insight

City

Belfair

County

Mason

State

Washington

Latitude

47.4468

Longitude

-122.83

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