116 E Main St,Goldendale, WA 98620
Goldendale, WA 98620
Description
WA State-Leased Office Building with 8.0% Cap Rate Leased Through 2031 Rare opportunity to acquire a stabilized, single-tenant investment property in downtown Goldendale leased to the Washington State Employment Security Department (ESD) under a recently renewed lease extending through October 31, 2031. This professionally maintained office building provides dependable, long-term income backed by a State of Washington agency, offering investors the security and predictability of an affordable and high-return government-leased property. The property features quality office space, dedicated parking, excellent visibility, and a prominent Main Street location serving downtown Goldendale in Klickitat County. With an attractive 8.0% capitalization rate and 10.34 Gross Rent Multiplier, the property delivers strong in-place cash flow and a compelling risk-adjusted return. The long remaining lease term minimizes vacancy concerns while providing stable passive income with minimal management requirements. Government-leased assets with this combination of yield, lease term, and credit-quality tenancy are rarely available. Ideal for 1031 exchange buyers, retirement portfolios, and investors seeking reliable income and long-term stability. An exceptional opportunity to acquire a high-quality office investment backed by one of Washington's most creditworthy tenants.
Details
| MLS # | 508198034 |
|---|---|
| Listing Type | For Lease |
| Style | Office |
| Status | Active |
| Year | 1948 |
| Days On Site | 24 |
| Listing Provided By | Coldwell Banker Cascade Real Estate | Adam Rynd |
Features
| SQ Feet | 2,000 |
|---|---|
| Zoning | Busines |
Interior
| Heating | Forced Air, Heat Pump |
|---|---|
| Heating Yn | Yes |
| Cooling | Heat Pump |
| Cooling Yn | Yes |
Exterior
| Construction Materials | Brick, Concrete, Wood Siding |
|---|
Parking
| Attached Garage Yn | No |
|---|
Taxes
| Property | 1110 |
|---|
Area Information
| State | WA |
|---|---|
| County | Klickitat |
| City | Goldendale |
| Zip Code | 98620 |
| Listing VS Median (in 98620) | |
Price: $289,000 low | high Med: $399,900 sqft: 2,000 low | high Med: 1,773 $ / sqft: $145 low | high Med: $229 On site: 24 low | high Med: 58.5 | |
Market Activity 98620
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Learn More About This Property
| State | WA |
|---|---|
| County | Klickitat |
| City | Goldendale |
| Zip Code | 98620 |
| Listing VS Median (in 98620) | |
Price: $289,000 low | high Med: $399,900 sqft: 2,000 low | high Med: 1,773 $ / sqft: $145 low | high Med: $229 On site: 24 low | high Med: 58.5 | |
