Property Details

1515 S Technology Blvd

Spokane, WA 99224

$6,500,000

Pending

CBA# 708231 courtesy of CBA Listing firm: SVN Cornerstone LLC

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Office / Retail

Property Type

19,320

Bldg Sq Ft

2005

Year Built

Property Overview

We are pleased to present the Stepping Stones Professional Office Building, a well-maintained, owner-occupied professional office property offered for sale with a leaseback to the operating business. The property is home to Stepping Stones, a highly regarded, family-centered pediatric therapy practice providing physical therapy, occupational therapy, speech therapy, and feeding therapy services. With an established operating history and a strong reputation in the community, the leaseback structure offers investors the opportunity to acquire a stabilized asset supported by a mission-driven medical tenant.-NNN lease designed to be largely passive, w/ the Landlord's obligations limited to the roof. -Single tenant net leased investment – New 7-year lease with 3, 5-year options, and 2% annual increases.-Average Cap for initial term: 7.81.-Built in 2023 with high quality improvements customized to tenant-Convenient access to I 90 and Spokane International Airport-2.8 acre corner lot with strong visibility and 130 parking stalls (6.7/1,000 SF)-Stepping Stones Pediatric Therapy is an established, high credit regional provider-Multiple therapy rooms, offices, indoor play area and kitchen