545 Rainier Blvd Issaquah, WA 98027
- Office buildings
- 9,915 SF
- 0.35 lot acres
Current Use by Public Records
- Office buildings
Property Details for 545 Rainier Blvd
- Year built
- 1937
- Construction
- WOOD
- Lot size
- 0.35 lot acres
- Property size
- 9,915 SF
- Zone code
- CBD
- Property type
- Office buildings
- APN
- 282406-9030
- APU
- 2824069030
Description
This exceptional Class A, 9,117 square foot executive office building at 545 Rainier Blvd N, Issaquah, WA 98027 presents a compelling owner/user or value-add investment opportunity. The three-story building, constructed in 1982 and extensively renovated in 2023, sits on a 15,200 square foot lot and boasts 29 units, currently 100% occupied. All tenants are on month-to-month leases, providing significant potential for future rent increases. The property features a new roof, private balconies, showers, a sauna, and ample parking with 25 spaces. Located in the heart of Issaquah's central business district (CBD), the building benefits from its proximity to numerous shops and restaurants. The asking price is $3,600,000, representing a pro-forma cap rate of 8.00% and a price per square foot of $394.87. This is a rare chance to acquire a fully leased, high-demand property with substantial upside potential in a thriving Issaquah location. The property's APN is 282406-9030. The gross lease structure ensures consistent income. This is a multi-tenant building with no credit rating required for tenants.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Issaquah
- County
- King
- State
- Washington
- Longitude
- -122.038
- Latitude
- 47.5355
- CBSA code
- 42660
- CBSA name
- SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA
