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211 Pioneer Rd Long Beach, WA 98631

Assisted living facilities Google Maps
18,960 SF 1.06 ac lot Built 1976
Individually Owned 14-yr Hold ~ Est. High Equity
Estimated value (blended)
$450k
Range $405k – $495k (±10%)
Property ID US90-1950183

Property summary

AI-generated overview

Exceptional investment opportunity: a 20,715-square-foot medical office building in Long Beach, WA, listed at $3,250,000. This single-story, wood-frame building, constructed in 1976 and renovated in 2013, sits on a 1.97-acre lot. Previously operating as a licensed 50-bed Klean Drug and Alcohol Treatment Center, the property is currently vacant and offers significant potential for various medical uses. The building features 25 units and abundant off-street parking. It boasts a fully sprinklered system and is zoned R3R by the City of Long Beach. The property's location offers convenient access, being a short walk to the beach. Detailed county records are available. The asking price is $171.41 per square foot, or $130,000 per unit. The owner is open to both sale and lease options, with a lease rate of $20,000 per month, NNN. This property presents a rare chance to acquire a substantial medical facility in a desirable location. Serious inquiries are encouraged.

Property profile

Verified
Property type Assisted living facilities
Use group HOMES (RETIRED, NURSING)
Year built 1976
Total area 18,960 SF
Lot 1.06 ac (46,174 SF)
APN 10110932112
UPID US90-1950183

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$450k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$450k

Owner & transaction history

since 2011
2 recorded transactions
2011
$1.3M
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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