Two-Tenant Medical Office
1135 Jadwin Avenue Richland, WA 99352
1135 Jadwin Avenue, Richland, WA, 99352
Contact for pricing
For Sale
Contact for pricing
Two adjacent single-tenant medical office buildings are 100% leased through 2029.
Property Size16,366 SF
Price / SF$380.67
Days on Market10
Property Features for 1135 Jadwin Avenue
General Information
- Standard status
- Active
- Size
- 16,366 SF
- Property subtype
- Office
Building Details
- Year Built
- 1966
Listing Agency
Northmarq - Seattle
Listed by
Joe Dugoni · License #WA 21001346
Source
Crexi
Added: Jul 8 Checked: Jul 16 at 9:25 am
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 - Seattle
Investment Insights
Based on property information with market context.
Northmarq is pleased to present 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 1135 Jadwin building operates as Kadlec Clinic – Richland Primary Care, supporting family medicine, pediatrics, women’s health, and an onsite lab. The 1155 Jadwin building is home to Kadlec specialty care, including cardiology.
Both buildings are 100% leased to Kadlec Regional Medical Center, a subsidiary of Providence Health & Services. The leases expire November 30, 2029 and include options that have already been exercised, with approximately 3% annual rent escalations. The portfolio is located 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. The leases expire November 30, 2029 and include options that have already been exercised, with approximately 3% annual rent escalations. The portfolio is located one block from Kadlec Regional Medical Center’s main campus.
Key Highlights
- 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 (Providence Health & Services subsidiary)
- Lease term runs through November 30, 2029 with options already exercised
Local 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 | $359.4k | $21.96 |
| − Vacancy | −$24.4k | −$1.49 |
| EGI | $335.0k | $20.47 |
| − OpEx | −$83.7k | −$5.12 |
| NOI | $251.2k | $15.35 |
16,366 SF · lease $21.96/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$3.59M
$3.14M – $4.19M
NOI $251,219 @ 7.0% cap · market cap 4.03%
Second Best
Healthcare Medical
$3.47M
$3.04M – $4.05M
NOI $242,905 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$4.54M
$3.97M – $5.30M
NOI $317,753 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Stephen Ewer
Physician
Dr. Sirshendu Banerjee
Physician
Tauni Urdahl
Physician
Prama Chakravarti
Physician
Athalia Clower
Physician
Similar For Sale Nearby
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 through 2029.
Where is this medical office space located?
The property is located at 1135 Jadwin Avenue Richland, WA.
What is the asking price?
The asking price for this property is $6,230,000.
What are key features of this property?
This property features: 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 (Providence Health & Services subsidiary); Lease term runs through November 30, 2029 with options already exercised
