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Government

Post Office Portfolio | 6 Property Portfolio | Eastern Washington/North Idaho

2020 N Dickey Rd, Spokane Valley, WA 99212

Listing Price: $2,650,000

Cap Rate
5.89%
Tenant Name
United States Post Office
Years Remaining On Lease
6.8
Guarantor
United States Government
Rentable SF
14,049
Lease Type
Modified Gross
Rent Per Square Feet
$12.45

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Post Office portfolio located in Eastern Washington and North Idaho. The portfolio consists of seven single-tenant buildings located in Asotin (WA), Curlew (WA), Elk (WA), Rathdrum (ID), Rockford (WA), Royal City (WA) and Spokane Valley (WA). All seven properties were built-to-suit specifically for the USPS, which has been the sole tenant throughout the life of each building. The portfolio offers a stable and consistent cash flow with future rental upside. On average, the leases have 4+ years of term remaining with expirations staggered over the next 3 to 7 years. Over half of the leases contain no additional tenant renewal options, giving a future owner the ability to negotiate a higher rent upon lease expiration. Offered for sale at $2,900,000, the Post Office portfolio is available for purchase at a 5.89% capitalization rate.

Investment Highlights

  • Geographically concentrated 7-property Post Office portfolio
  • Leases guaranteed by the United States Postal Service
  • Built-to-suit, single-tenant locations
  • Stable and consistent cash flow with future rental upside

Exclusively Listed By

Government

Post Office Portfolio | 6 Property Portfolio | Eastern Washington/North Idaho

Listing Price: $2,650,000

Cap Rate
5.89%
Tenant Name
United States Post Office
Years Remaining On Lease
6.8
Guarantor
United States Government
Rentable SF
14,049
Lease Type
Modified Gross
Rent Per Square Feet
$12.45

Investment Highlights

  • Geographically concentrated 7-property Post Office portfolio
  • Leases guaranteed by the United States Postal Service
  • Built-to-suit, single-tenant locations
  • Stable and consistent cash flow with future rental upside

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale the Post Office portfolio located in Eastern Washington and North Idaho. The portfolio consists of seven single-tenant buildings located in Asotin (WA), Curlew (WA), Elk (WA), Rathdrum (ID), Rockford (WA), Royal City (WA) and Spokane Valley (WA). All seven properties were built-to-suit specifically for the USPS, which has been the sole tenant throughout the life of each building. The portfolio offers a stable and consistent cash flow with future rental upside. On average, the leases have 4+ years of term remaining with expirations staggered over the next 3 to 7 years. Over half of the leases contain no additional tenant renewal options, giving a future owner the ability to negotiate a higher rent upon lease expiration. Offered for sale at $2,900,000, the Post Office portfolio is available for purchase at a 5.89% capitalization rate.

Exclusively Listed By

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