Two- Building Medical Office
1135 Jadwin Ave Richland, WA 99352
For Sale
Contact for pricing
Two adjacent single-tenant medical office buildings are 100% leased to Kadlec Clinic with leases expiring November 30, 2029.
Property Size9,126 SF
Price / SF$463.51
Days on Market97
Property Features for 1135 Jadwin Ave
General Information
- Standard status
- Active
- Size
- 9,126 SF
- Property subtype
- OFFICE
Listing Agency:
Northmarq Commercial, LLC
(503) 998-6572
Listed By:
Kevin Adatto
(503) 998-6572
Source:
Moodyscre
Added: Apr 22
Changed: Jul 25
Last Checked: Jul 26 at 1:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Northmarq Commercial, LLC
Investment Insights
Based on property information with market context.
Northmarq presents the Kadlec Clinic Portfolio, two adjacent single-tenant medical office buildings totaling 16,366 SF at 1135 and 1155 Jadwin Avenue in Richland, Washington. The buildings operate as Kadlec Clinic locations, including Richland Primary Care and Kadlec specialty care such as cardiology, together supporting a contiguous outpatient care hub one block from Kadlec Regional Medical Center’s main campus.
Both buildings are 100% leased to Kadlec Regional Medical Center, a subsidiary of Providence Health & Services. Lease terms expire November 30, 2029, with options already exercised and approximately 3% annual rent escalations.
The portfolio is offered available together or as individual acquisitions.
Both buildings are 100% leased to Kadlec Regional Medical Center, a subsidiary of Providence Health & Services. Lease terms expire November 30, 2029, with options already exercised and approximately 3% annual rent escalations.
The portfolio is offered available together or as individual acquisitions.
Key Highlights
- Kadlec Clinic Portfolio: two adjacent single‑tenant medical office buildings totaling 16,366 SF at 1135 and 1155 Jadwin Avenue in Richland, WA
- 100% leased to Kadlec Regional Medical Center, a subsidiary of Providence Health & Services
- Leases expire November 30, 2029 with options already exercised and ~3% annual rent escalations
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $200.4k | $21.96 |
| − Vacancy | −$13.6k | −$1.49 |
| EGI | $186.8k | $20.47 |
| − OpEx | −$46.7k | −$5.12 |
| NOI | $140.1k | $15.35 |
9,126 SF · lease $21.96/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.00M
$1.75M – $2.33M
NOI $140,084 @ 7.0% cap · market cap 3.31%
Second Best
Healthcare Medical
$1.93M
$1.69M – $2.26M
NOI $135,449 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,185 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Stephen Ewer
Physician
Dr. Sirshendu Banerjee
Physician
Tauni Urdahl
Physician
Prama Chakravarti
Physician
Athalia Clower
Physician
Similar Off Market Nearby
- Horse Sense Vet — 943 Stevens Dr, Richland, WA 99352
FAQs
What type of property is this?
Medical Office Space - Two adjacent single-tenant medical office buildings are 100% leased to Kadlec Clinic with leases expiring November 30, 2029.
Where is this medical office space located?
The property is located at 1135 Jadwin Ave Richland, WA.
What is the asking price?
The asking price for this property is $4,230,000.
What are key features of this property?
This property features: Kadlec Clinic Portfolio: two adjacent single‑tenant medical office buildings totaling 16,366 SF at 1135 and 1155 Jadwin Avenue in Richland, WA; 100% leased to Kadlec Regional Medical Center, a subsidiary of Providence Health & Services; Leases expire November 30, 2029 with options already exercised and ~3% annual rent escalations
