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Mixed-Use

Mint Condition Dental | New 10-Year NNN Lease

204-206 S Main St, Colfax, WA 99111

Listing Price: $835,000

Cap Rate
7.00%
Occupancy
100.0%

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale Mint Condition Dental located at 204-206 S Main Street in Colfax, Washington. The property consists of a 2,970-square foot building on a 0.12-acre lot. The building consists of a 1,700-square foot dental clinic at the front of the building and a 950-square foot 1 bedroom/1 bathroom apartment at the rear. Both spaces have separate entrances and were both fully remodeled within the last 10 years. The apartment features a dedicated 1 car parking garage while there is abundant street parking available for dental clients. The property is located in downtown Colfax on Main Street/US Highway 195, which is the main arterial through town and has an average daily traffic count of 9,600 near the property's location.

Valley Dental, Inc. dba Mint Condition Dental will sign a 10-year triple-net lease at close of escrow. There will be a 12.5% rental increase halfway through the initial lease term. In addition to the monthly rental payment, Mint Condition Dental will pay all recurring utility bills for its suite and all repairs and maintenance to its space. The tenant will also reimburse the Landlord for its pro-rata share of taxes and insurance.

The apartment is currently occupied on a 12-month lease at a monthly rate of $1,095. In addition to the monthly rental payment, the tenant pays all recurring utility bills for the unit.

Colfax is located 59 miles south of Spokane, WA and is the county seat of Whitman County.

Investment Highlights

  • New 10-year triple-net (NNN) lease
  • 12.5% rental increase halfway through the initial lease term
  • Fully remodeled dental clinic with updated apartment unit at the rear of the building
  • Strategically located in downtown Colfax on Main Street/US Hwy-195 (9,600 ADT)
  • Colfax is the county seat of Whitman County

Exclusively Listed By

Financing By

Mixed-Use

Mint Condition Dental | New 10-Year NNN Lease

Investment Highlights

  • New 10-year triple-net (NNN) lease
  • 12.5% rental increase halfway through the initial lease term
  • Fully remodeled dental clinic with updated apartment unit at the rear of the building
  • Strategically located in downtown Colfax on Main Street/US Hwy-195 (9,600 ADT)
  • Colfax is the county seat of Whitman County

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale Mint Condition Dental located at 204-206 S Main Street in Colfax, Washington. The property consists of a 2,970-square foot building on a 0.12-acre lot. The building consists of a 1,700-square foot dental clinic at the front of the building and a 950-square foot 1 bedroom/1 bathroom apartment at the rear. Both spaces have separate entrances and were both fully remodeled within the last 10 years. The apartment features a dedicated 1 car parking garage while there is abundant street parking available for dental clients. The property is located in downtown Colfax on Main Street/US Highway 195, which is the main arterial through town and has an average daily traffic count of 9,600 near the property's location. Valley Dental, Inc. dba Mint Condition Dental will sign a 10-year triple-net lease at close of escrow. There will be a 12.5% rental increase halfway through the initial lease term. In addition to the monthly rental payment, Mint Condition Dental will pay all recurring utility bills for its suite and all repairs and maintenance to its space. The tenant will also reimburse the Landlord for its pro-rata share of taxes and insurance. The apartment is currently occupied on a 12-month lease at a monthly rate of $1,095. In addition to the monthly rental payment, the tenant pays all recurring utility bills for the unit. Colfax is located 59 miles south of Spokane, WA and is the county seat of Whitman County.

Exclusively Listed By

Financing By

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