Pasco, Washington offers a unique opportunity for investors to capitalize on the growing demand for office properties in the region. With a strong economy driven by agriculture, industrial activities, and a growing wine industry, Pasco is an attractive location for businesses looking to establish a presence in the Pacific Northwest. Office properties in Pasco can represent a range of investments, from single-story buildings to multi-story complexes, offering a variety of options for businesses of all sizes. The city's infrastructure, including the Pasco Intermodal Train Station and Tri-Cities Airport, provides easy access to transportation and logistics. Additionally, Pasco's education institutions, such as Columbia Basin College and Washington State University Tri-Cities, provide a skilled workforce and a strong foundation for businesses to grow. The city's geography, with the Columbia River bordering the south side, offers a unique and scenic environment that is attractive to businesses and residents alike. With attractions like the Pasco Farmers Market, Gesa Stadium, and the HAPO Center, Pasco is a great place for business and travel.
Currently, there are 9 office properties available for sale in Pasco, offering a range of options for investors. The average price per square foot for office properties in Pasco is $247 USD, with an average size of 12,077 square feet. The largest office property available for sale is 28,132 square feet. In addition to office properties, Pasco also offers a range of other commercial real estate options, including commercial properties for sale, apartment buildings, shopping centers, and hotels. For example, commercial properties in Pasco offer a range of options for businesses looking to establish a retail or industrial presence in the region. Apartment buildings in Pasco provide a range of options for investors looking to capitalize on the growing demand for rental properties. Shopping centers in Pasco offer a range of options for retailers looking to establish a presence in the region. Hotels in Pasco provide a range of options for travelers and businesses looking for accommodations. Overall, Pasco offers a unique and attractive environment for businesses and investors, with a range of options for office properties and other commercial real estate.
What is the average price per square foot for office properties in Pasco?
The average price per square foot for office properties in Pasco is $247 USD per square foot, with 9 available listings, ranging in size from 12,077 square feet to 28,132 square feet, and an average cap rate of 7%.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Pasco, it's essential to understand the different classifications, which can impact the property's value, rental income, and overall desirability.
- Class A office properties are typically modern, high-quality buildings with premium finishes, advanced technology, and prime locations, often attracting high-end tenants and commanding higher rents.
- Class B office properties are older, yet still well-maintained, with standard finishes and amenities, suitable for a wide range of tenants, and offering a balance between quality and affordability.
- Class C office properties are older, functional buildings with basic finishes and limited amenities, often requiring renovation or upgrading, and typically appealing to budget-conscious tenants or those seeking a more affordable option.
