Property Details

1651 Pilgrim St

Moses Lake, WA 98837

$7,680,000

Available

CBA# 709957 courtesy of CBA Listing firm: Marcus & Millichap, Inc.

Schedule a Showing

Select your date preference

Request More Info

I’d like more information about 1651 Pilgrim St, Moses Lake, MLS# 709957

Office / Retail

Property Type

32,800

Bldg Sq Ft

2015

Year Built

Property Overview

We have been selected to exclusively market for sale the Department of Social & Health Services (DSHS) facility located in the rapidly growing Moses Lake, Washington, sub-market. This Property was a build-to-suit location for DSHS, situated on a spacious 3.26-acre lot with ample parking (roughly 185 parking stalls). Prior to closing, the Seller will be completing renovations throughout the entire property including: parking lot, landscaping, HVAC maintenance, and lighting throughout the facility. DSHS recently renewed their lease for an additional five years, with a notable 17.5% rental increase over the previous term. The lease is guaranteed by the State of Washington, which has a Fitch rating of AA+. Moses Lake currently boasts a low 2.3% vacancy rate, with rental rates increasing 12.5%