505 8Th StPort Angeles, WA 98362

Property Details for 505 8Th St

Year built

1980

Lot size

0.16 AC

Property size (Sq ft)

2,534 SF

Property type

Office properties

APN

630000227400000

APU

630000227400000

Description

This exceptional 2,534 square foot office building, located at 505 E 8th St in Port Angeles, WA, presents a unique investment opportunity. Currently vacant, the property boasts a desirable location on a main corridor and offers stunning mountain views. Recently remodeled, this two-story building features a modern layout with ample natural light. The ground floor includes a reception area, processing room, bathroom, conference room, and kitchen. Upstairs, you'll find five offices, two of which are premier spaces with exceptional views, along with an additional bathroom. The building is equipped with high-speed T-1 internet throughout and provides 12 on-site parking spaces. A heat pump system ensures efficient climate control. The building's west roof was replaced in 2021, demonstrating recent maintenance and upgrades. The property sits on a 0.16-acre lot and is zoned P_CN. While currently vacant, the previous tenant's lease extends until August 1, 2024, providing a potential income stream until then, at a rate of $4,000 per month. This meticulously maintained building offers a blend of functionality and aesthetic appeal, making it an ideal investment for a variety of businesses. The asking price is $399,000.

• CAP approach

  CAP return

  Valuation

  6%

  $683,508

  6.5%

  $630,930

  7%

  $585,864

• Comparable approach

  Method

  Valuation

  Relative Method

  $770,268

  Geo Method

  $487,998

• Alternative Use

  Use

  Valuation

  Residential

  $782,354

  Hospitality

  $716,632

  Educational

  $596,229

  Medical

  $616,734

  Retail

  $927,468

Location Insight

City

Port Angeles

County

Clallam

State

Washington

Latitude

48.1101

Longitude

-123.431

CBSA code

38820

CBSA name

PORT ANGELES, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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