Franciscan Medical Clinic | 21 Romance Hill Rd
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Franciscan Medical Clinic 21 Romance Hill Rd
11,503 SF 100% Leased Office Building Belfair, WA 98528 $8,105,400 CAD ($705 CAD/SF) 6.60% Cap Rate
Investment Highlights
- Cap Rate: 6.6%
- Long-Term Tenants: Virginia Mason Franciscan Health, Peninsula Physical Therapy, and Belfair Dental have occupied their suites since 2009.
- Business financials are available upon execution of the confidentiality agreement.
- Excellent 1031 Exchange Opportunity
- Recent Facade and New Signage Updates: New facelift transforms the exterior with new awnings above each suite entrance.
- Strategic Location: Conveniently situated off WA-3 and Romance Hill Road, this location offers high visibility and easy access.
Executive Summary
Virginia Mason Franciscan Health, Peninsula Physical Therapy, and Belfair Dental have occupied their respective suites since the building’s construction in 2008/2009. Recently, two of the tenants exercised their third and final 5-year extension options, while Virginia Mason Franciscan Health still has over 10 years remaining on their most recent 15-year extension. Seller financing is available. Seller will entertain any reasonable offer.
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Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
11,503 SF
Building Class
B
Year Built
2008
Price
$8,105,400 CAD
Price Per SF
$705 CAD
Cap Rate
6.60%
NOI
$534,956 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
11,503 SF
Building FAR
0.07
Lot Size
4.00 AC
Zoning
MU
Parking
62 Spaces (5.39 Spaces per 1,000 SF Leased)
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PROPERTY TAXES
| Parcel Number | 12332-50-90041 | Improvements Assessment | $1,648,923 CAD |
| Land Assessment | $469,360 CAD | Total Assessment | $2,118,282 CAD |
PROPERTY TAXES
Parcel Number
12332-50-90041
Land Assessment
$469,360 CAD
Improvements Assessment
$1,648,923 CAD
Total Assessment
$2,118,282 CAD
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Franciscan Medical Clinic | 21 Romance Hill Rd
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