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Listed by Nicholas R Mayer Almon Commercial-Residential Real Estate
$1,304,000
Est. payment /mo
8,000 SqFt
New
220 S Railroad Ave Ellensburg, WA 98926
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Key Details
Property Type Commercial
Sub Type Commercial Property
Listing Status Active
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $163
MLS Listing ID 26-2683
Year Built 1972
Annual Tax Amount $7,948
Tax Year 2026
Lot Size 1.000 Acres
Acres 1.0
Property Sub-Type Commercial Property
Land Area 8000
Property Description
THIS OFFERING presents the opportunity to acquire a well-appointed, steel-frame, clear-span industrial warehouse strategically located in Ellensburg's Heavy Industrial (I-H) zone, directly across the street from WinCo Foods' new 650,000SF distribution center. The fully insulated facility is served by 480-amp electrical service, city water and natural gas, and features (7) 10' x 14' overhead roll-up doors, two restrooms, approximately 230SF of office, +/-330SF of additional storage, and a 1,920SF covered lean-to on slab. The fully fenced property also includes approximately 14,210SF of excess land, providing valuable additional yard and operational space.
The property is leased NNN to a national tenant with more than five years remaining on the existing lease, providing stable income with minimal landlord responsibilities. Current rent is approximately 15% below market, creating embedded upside, while above-market 3% annual rent escalations provide continued income growth throughout the remaining lease term. With an NOI of $78,249 and offered at a 6% cap rate, this is a compelling opportunity to acquire a well-located industrial asset with durable cash flow, contractual rent growth, and long-term upside in an expanding Ellensburg industrial corridor.
NATIONAL TENANT - NNN lease with over five years remaining
6% CAP RATE - $78,249 current NOI with contractual income growth
3% ANNUAL ESCALATIONS - Above-market rent increases throughout the lease term
EMBEDDED UPSIDE - Current rent approximately 15% below market
PRIME INDUSTRIAL LOCATION - Directly across from WinCo's new 650,000SF distribution center
HEAVY INDUSTRIAL (I-H) ZONING - Fully fenced
EXCESS LAND - Approximately 14,210SF of excess land and yard space
WELL-EQUIPPED FACILITY - 480-amp power, (7) 10'x14' roll-up doors, insulated clear-span construction & 1,920SF covered lean-to
The property is leased NNN to a national tenant with more than five years remaining on the existing lease, providing stable income with minimal landlord responsibilities. Current rent is approximately 15% below market, creating embedded upside, while above-market 3% annual rent escalations provide continued income growth throughout the remaining lease term. With an NOI of $78,249 and offered at a 6% cap rate, this is a compelling opportunity to acquire a well-located industrial asset with durable cash flow, contractual rent growth, and long-term upside in an expanding Ellensburg industrial corridor.
NATIONAL TENANT - NNN lease with over five years remaining
6% CAP RATE - $78,249 current NOI with contractual income growth
3% ANNUAL ESCALATIONS - Above-market rent increases throughout the lease term
EMBEDDED UPSIDE - Current rent approximately 15% below market
PRIME INDUSTRIAL LOCATION - Directly across from WinCo's new 650,000SF distribution center
HEAVY INDUSTRIAL (I-H) ZONING - Fully fenced
EXCESS LAND - Approximately 14,210SF of excess land and yard space
WELL-EQUIPPED FACILITY - 480-amp power, (7) 10'x14' roll-up doors, insulated clear-span construction & 1,920SF covered lean-to
Location
State WA
Area 14 - Out Of County
Zoning I - Industrial
Direction North on S. Railroad Ave. Property on Right
Interior
Heating Ceiling
Flooring Concrete
Heat Source Ceiling
Exterior
Fence Full, Cross Fenced
Roof Type Metal
Building
Foundation Slab
Sewer Connected
Water Public
Others
Tax ID 378133
Acceptable Financing Conventional, Cash
Listing Terms Conventional, Cash
Nearby Locations
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