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848 15th Ave $750,000

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    848 15th Ave Longview, WA 98632

    • 0.28 Acres
    • Commercial/Industrial
    Listing# 1391847 | Active
    Days On Market: 203 4 Views
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    Property Details

    Freshly updated, long term investment property now available. Well positioned across from PeaceHealth/St John Medical Center with high traffic counts and excellent signage. This property is currently offered at a 6.4% CAP rate and 8.9% proforma CAP rate after the next rent increase. The initial lease term expires August 2022 with options to extend. The rent structure has built in increases and is triple net. This would make an excellent addition to your portfolio.

    • General Features
      • County Cowlitz
      • Zoning Class Commercial
      • Zoning Jurisdiction City
      • Style 60-Comm Bldg Und 10K
      • Approx Building SqFt 3,840
      • Approx Whse/Mfg SqFt 0
      • Approx Office SqFt 0
      • Total Uncovered Parking 0
      • Total Covered Parking 0
    • Building Features
      • Exterior Cement/Concrete, Wood Products
      • Foundation Concrete Block
      • Roof Built-Up
      • Floor Covering Ceramic Tile, Vinyl
      • Heating and Cooling Heat Pump
    • Property Features
      • Lot Square Footage 12,197
      • Depth of Lot 0
      • Site Frontage 0
      • Water-Sewer-Garbage 0
      • Sewer Sewer Connected
      • Sewer Company City of Longview
      • Energy Source Electric
      • Power Company Cowlitz PUD
      • Number of Available Pads 0
    • Financials
      • Vacancy Rate 0
      • Total SqFt Rented 3,840
      • Total Monthly Rent $4,000
      • Gross Rent Multiplier 0
      • Cap Rate -NOI div LP 6.4
      • Gross Scheduled Income $48,000
      • Gross Adjusted Income $0
      • Total Expenses $0
      • NOI $48,000
      • Electrical Expenses $0
      • Tax Expense $5,152
      • Heating Expense $0
      • Insurance Expense $0
      • Annual Assoc. Dues $0
      • Other Expenses $0
      • Tax Year 2018

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    Neighborhood

    98632 (Longview) Demographics

    42Median Age
    375Population Density (per sq. mile)
    26%College Educated
    $41,824 Estimated Median Income
    11,532Estimated Total Home Owners
    8,053Estimated Total Renters
    59% / 41%Estimated Owner / Renter Divide
    3Estimated Average Household Size
    48,512Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days

    $281,000 Median Sales Price
    92 Homes Sold
    119 New On Market

    Average Days on Market

      Properties for Sale

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $750,000
        12/5/2018 10:21:00 AM New in Database Source

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        This property search is part of the Berkshire Hathaway HomeServices Northwest Real Estate website. Listing information is courtesy of the WA-NWMLS and Berkshire Hathaway HomeServices Northwest Real Estate. Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2019. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental Information has not been verified by agent and should be verified by buyer.