Redeveloped Medical Facility with NNN
For Sale
$1,475,000
198 Ponderosa Road, Colville, WA 99114
Stand-alone dialysis and chiropractic facility on an absolute NNN structure with strong, investment-grade tenant support.
Property Size6,043 SF
Lot Size1.28 Acres
Price / SF$244.08
Days on Market92
Property Features for 198 Ponderosa Road
General Information
Standard status
Active
Size
6,043 SF
Lot size
1.28 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
6,043 SF
Year Built
2002
Year Renovated
2015
Tenancy
Multi
Listing Agency:
Black Commercial, Inc.
(509) 623-1000
Listed By:
Andrew Black · License ##125783
Source:
Naiblack
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 31 at 3:26PM
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 Black Commercial, Inc.
Investment Insights
Based on property information with market context.
This stand-alone medical facility was originally built in 2002 and fully redeveloped in 2015. It is currently leased to DaVita Dialysis and subleased in its entirety to Monumental Chiropractic, providing dedicated occupancy under a single-property arrangement. The offering totals 6,043 SF and sits on 1.28 acres, and it is presented with an absolute NNN lease structure.
The property benefits from excellent frontage along Highway 395, the primary north-south corridor connecting Colville to Spokane. The stand-alone site configuration supports straightforward operations and visibility for healthcare users and their staff.
For investors seeking a stabilized healthcare asset, the lease is supported by an investment-grade corporate guarantee tied to DaVita Healthcare Partners, with an additional guarantee. The lease is scheduled to commence June 15, 2025 and expires June 14, 2030, with approximately 4.75 years remaining at the time of offering. Tenant responsibility under the absolute NNN lease includes taxes, insurance, utilities, and nearly all repairs and capital expenditures, helping keep landlord responsibilities minimal. Renewal options include two additional five-year terms.
The property benefits from excellent frontage along Highway 395, the primary north-south corridor connecting Colville to Spokane. The stand-alone site configuration supports straightforward operations and visibility for healthcare users and their staff.
For investors seeking a stabilized healthcare asset, the lease is supported by an investment-grade corporate guarantee tied to DaVita Healthcare Partners, with an additional guarantee. The lease is scheduled to commence June 15, 2025 and expires June 14, 2030, with approximately 4.75 years remaining at the time of offering. Tenant responsibility under the absolute NNN lease includes taxes, insurance, utilities, and nearly all repairs and capital expenditures, helping keep landlord responsibilities minimal. Renewal options include two additional five-year terms.
Key Highlights
- Stand‑alone medical facility totaling 6,043 SF on 1.28 acres, originally built in 2002 and fully redeveloped in 2015.
- Absolute NNN lease structure: tenant responsible for taxes, insurance, utilities, and nearly all repairs & capital expenditures.
- Currently leased to DaVita Healthcare Partners, Inc. and subleased in its entirety to Monumental Chiropractic, LLC.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,056
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,561,120
$1.6M
Cap Rate 7%
$1,115,086
$1.1M
Cap Rate 9%
$867,289
$867.3K
Market Conditions
NOI Build-Up for 6,043 SF
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.
Gross rent
$141.4K $23.40/SF
− Vacancy
−$11.3K −$1.87/SF
EGI
$130.1K $21.53/SF
− OpEx
−$52.0K −$8.61/SF
NOI
$78.1K $12.92/SF
Area
Stevens County, WA
Vacancy
8.00%
Lease Rate
$23.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,561,120
Cap Rate 7%
$1,115,086
Cap Rate 9%
$867,289
Alternative Uses
Best Use
Healthcare Medical
$1.12M
$975.7K – $1.30M
NOI $78,056 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,137 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 99114, WA
12,649
Population
6,154
Households
2.1
Avg Household Size
49
Median Age
23%
College-Educated
91%
High-School Grad
718.5 sq mi
ZIP Area
18
Density / Sq Mi
$61,891
Median Household Income
$45,164
Median Earnings
$916
Median Rent
$268,300
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical center - Stand-alone dialysis and chiropractic facility on an absolute NNN structure with strong, investment-grade tenant support.
Where is this medical center located?
The property is located at 198 Ponderosa Road Colville, WA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Stand‑alone medical facility totaling 6,043 SF on 1.28 acres, originally built in 2002 and fully redeveloped in 2015.; Absolute NNN lease structure: tenant responsible for taxes, insurance, utilities, and nearly all repairs & capital expenditures.; Currently leased to DaVita Healthcare Partners, Inc. and subleased in its entirety to Monumental Chiropractic, LLC.
