WA State-Leased Office Building with 9.0% 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 9.0% capitalization rate and 11.2 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.
| MLS # | 2573047 |
|---|---|
| Listing Type | For Sale |
| Style | Commercial Industrial |
| Sub-Type | Resale |
| Status | Active |
| Year | 1948 |
| Days On Site | 31 |
| Listing Provided By | CB Cascade RE - Lake Chelan | Adam Rynd |
| Units | 1 |
|---|---|
| Zoning | Business |
| Acreage | 0.11 |
| Property | 1110 |
|---|
| State | WA |
|---|---|
| County | Klickitat |
| City | Goldendale |
| Zip Code | 98620 |
| Area | 501 Klickitat County |
| Community Name | Goldendale |
| Listing VS Median (in Goldendale) | |
Price: $259,000 low | high Med: $455,450 On site: 31 low | high Med: 111.5 | |
| State | WA |
|---|---|
| County | Klickitat |
| City | Goldendale |
| Zip Code | 98620 |
| Area | 501 Klickitat County |
| Community Name | Goldendale |
| Listing VS Median (in Goldendale) | |
Price: $259,000 low | high Med: $455,450 On site: 31 low | high Med: 111.5 | |