542 5Th AveSequim, WA 98382

Property Details for 542 5Th Ave

Year built

2007

Lot size

0.87 AC

Property size (Sq ft)

4,320 SF

Property type

Office properties

Property subtype

Other office properties

APN

330196500303026

APU

330196500303026

Description

This exceptional Class A office building, located at 542-544 N 5th Ave, Sequim, WA 98382, presents a compelling investment opportunity. The 4,320 square foot property, built in 2007, boasts four units across a single-story building on a 0.87-acre lot. Currently operating at 100% occupancy with a diverse tenant base of high-quality businesses in the medical and finance sectors, this multi-unit office complex offers a stable income stream. The property features a Lifestyle District (LD) zoning designation. The asking price is $1,650,000, representing a compelling price per square foot of $381.94 and a pro-forma cap rate of 7.26%, yielding a pro-forma NOI of $119,866. Leases are NNN, with credit-rated tenants and lease options available for terms of 1-5 years, including rent bumps of 1 @ 1.28%/year and 2 @ 3%/year. The property's prime location offers convenient access to downtown Sequim's amenities, while also being near the Olympic National Forest, Olympic Mountain Range, and John Wayne Marina. This is an ideal investment for those seeking a stable, high-return property in a desirable location. All showings require prior notice. Further details are available upon request.

• CAP approach

  CAP return

  Valuation

  6%

  $1,165,254

  6.5%

  $1,075,619

  7%

  $998,789

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,313,164

  Geo Method

  $831,946

• Alternative Use

  Use

  Valuation

  Residential

  $1,333,768

  Hospitality

  $1,221,724

  Educational

  $1,016,460

  Medical

  $1,051,418

  Retail

  $1,581,160

Location Insight

City

Sequim

County

Clallam

State

Washington

Latitude

48.0843

Longitude

-123.113

CBSA code

38820

CBSA name

PORT ANGELES, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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