220 S Railroad Ave, Ellensburg, WA 98926

Property Description

THIS OFFERING presents the opportunity to acquire a well-appointed, steel-frame, clear-span industrial warehouse strategically located in Ellensburg's Heavy Industrial (I-H) zone, directly across the street from WinCo Foods' new 650,000SF distribution center. The fully insulated facility is served by 480-amp electrical service, city water and natural gas, and features (7) 10' x 14' overhead roll-up doors, two restrooms, approximately 230SF of office, +/-330SF of additional storage, and a 1,920SF covered lean-to on slab. The fully fenced property also includes approximately 14,210SF of excess land, providing valuable additional yard and operational space. The property is leased NNN to a national tenant with more than five years remaining on the existing lease, providing stable income with minimal landlord responsibilities. Current rent is approximately 15% below market, creating embedded upside, while above-market 3% annual rent escalations provide continued income growth throughout the remaining lease term. With an NOI of $78,249 and offered at a 6% cap rate, this is a compelling opportunity to acquire a well-located industrial asset with durable cash flow, contractual rent growth, and long-term upside in an expanding Ellensburg industrial corridor. NATIONAL TENANT - NNN lease with over five years remaining 6% CAP RATE - $78,249 current NOI with contractual income growth 3% ANNUAL ESCALATIONS - Above-market rent increases throughout the lease term EMBEDDED UPSIDE - Current rent approximately 15% below market PRIME INDUSTRIAL LOCATION - Directly across from WinCo's new 650,000SF distribution center HEAVY INDUSTRIAL (I-H) ZONING - Fully fenced EXCESS LAND - Approximately 14,210SF of excess land and yard space WELL-EQUIPPED FACILITY - 480-amp power, (7) 10'x14' roll-up doors, insulated clear-span construction & 1,920SF covered lean-to