116 E Main St, Goldendale, WA 98620
- $289,000
Listing courtesy of CB Cascade RE - Lake Chelan.
- List Price
- $289,000
- Status
- ACTIVE
- MLS#
- 2573047
- Days on Market
- 0
- Annual Tax Ammount
- 1110
- Internet Provider
- Blue Mountain
Property Description
WA State-Leased Office Building with 8.0% Cap Rate Leased Through 2031 Rare opportunity to acquire a stabilized, single-tenant investment property in downtown Goldendale leased to the Washington State Employment Security Department (ESD) under a recently renewed lease extending through October 31, 2031. This professionally maintained office building provides dependable, long-term income backed by a State of Washington agency, offering investors the security and predictability of an affordable and high-return government-leased property. The property features quality office space, dedicated parking, excellent visibility, and a prominent Main Street location serving downtown Goldendale in Klickitat County. With an attractive 8.0% capitalization rate and 10.34 Gross Rent Multiplier, the property delivers strong in-place cash flow and a compelling risk-adjusted return. The long remaining lease term minimizes vacancy concerns while providing stable passive income with minimal management requirements. Government-leased assets with this combination of yield, lease term, and credit-quality tenancy are rarely available. Ideal for 1031 exchange buyers, retirement portfolios, and investors seeking reliable income and long-term stability. An exceptional opportunity to acquire a high-quality office investment backed by one of Washington's most creditworthy tenants.
Additional Information
- Community
- Goldendale
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1948
- # of Assigned Spaces
- 4
- Roof
- Composition, Flat
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional
- Flooring
- Vinyl Plank, Carpet
- Driving Directions
- Drive to downtown Goldendale - WorkSource ESD building is located at 116 E Main St.
- Other Expenses
- 500
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $23,124
- Gross Adjusted Income
- $27,950
- Gross Scheduled Income
- $27,950
- Water/Sewer/Garbage Expenses
- $1,716
- Cap Rate
- 8
- Total Expenses
- $4,826
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