About this home

WA State-Leased Office Building with 9.0% Cap Rate Leased Through 2031 Rare opportunity to acquire a stabilized, single-tenant investment property in downtown Goldendale leased to the Washington State Employment Security Department (ESD) under a recently renewed lease extending through October 31, 2031. This professionally maintained office building provides dependable, long-term income backed by a State of Washington agency, offering investors the security and predictability of an affordable and high-return government-leased property. The property features quality office space, dedicated parking, excellent visibility, and a prominent Main Street location serving downtown Goldendale in Klickitat County. With an attractive 9.0% capitalization rate and 11.2 Gross Rent Multiplier, the property delivers strong in-place cash flow and a compelling risk-adjusted return. The long remaining lease term minimizes vacancy concerns while providing stable passive income with minimal management requirements. Government-leased assets with this combination of yield, lease term, and credit-quality tenancy are rarely available. Ideal for 1031 exchange buyers, retirement portfolios, and investors seeking reliable income and long-term stability. An exceptional opportunity to acquire a high-quality office investment backed by one of Washington's most creditworthy tenants.

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Property details

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• Goldendale Primary School

  Public · Grades K-4 · 0.5 mi · State rank 883 of 1,138
  2/10
• Goldendale Middle School

  Public · Grades 5-8 · 0.4 mi · State rank 428 of 514
  2/10
• Goldendale High School

  Public · Grades 9-12 · 0.6 mi · State rank 215 of 396
  4/10

Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.

Source: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.

Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.

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Market pulse

Goldendale is a buyer's market.

Inventory is rising and homes are sitting longer. Buyers have room to negotiate.

• Offer insight: Sellers are often willing to negotiate on price and terms.

• List to sale price: The average home sells for about 3% below list price.

• Time on market: The average home goes pending in around 129 days.

Market data from MLS GRID / NWMLS · Updated Nov 2026

Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.