425 Bridge St Clarkston, WA 99403

Property Details for 425 Bridge St

Year built

2015

Lot size

1.27 lot acres

Property size

14,550 SF

Property type

Retail space

APN

1-001-38-033-0000

APU

1001380330000

Description

This exceptional investment opportunity presents a fee-simple, 14,550-square-foot Walgreens located at 425 Bridge St, Clarkston, WA 99403. The property boasts a strong 5.75% cap rate and a substantial net operating income (NOI) of $375,000. Built in 2015, this single-tenant building sits on a 1.27-acre lot zoned R2 and enjoys 100% occupancy under an absolute NNN lease with Walgreens, a credit-rated tenant. The lease, expiring February 27, 2090, provides exceptional long-term stability with a remaining term of 65.3 years. The tenant is responsible for all operating expenses, including taxes, insurance, maintenance, repairs, and replacements to the roof, structure, and parking lot. This prime retail location is situated on a hard corner of Bridge Street (US Route 12), a major thoroughfare, benefiting from high visibility and traffic. The property enjoys a strategic position in a strong retail corridor, shadow-anchored by prominent retailers such as Costco Wholesale and Walmart Supercenter. The asking price is $6,522,000, translating to a price per square foot of $448.25. While the current lease is absolute NNN, there is potential for additional rent based on gross sales exceeding a certain threshold. This presents a compelling investment opportunity with significant long-term growth potential.

Location Insight

City

Clarkston

County

Asotin

State

Washington

Longitude

-117.043

Latitude

46.4198

CBSA code

30300

CBSA name

LEWISTON, ID-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments