Multi-Tenant Office
For Sale
$1,700,000
1123 N Grant Pl, Kennewick, WA 99336
Commercial Sale, Kennewick, WA
Property Size4,700 SF
Lot Size1.00 Acre
Price / SF$361.70
Days on Market162
Property Features for 1123 N Grant Pl
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMCL OFFICE
Parking
21
Directions
Google Maps
Standard status
Active
APN
***
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
10756
Building Details
Year built
2007
Listing Agency:
SVN Retter & Company
(509) 737-9429
Listed By:
Scott Sautell · License ##109003
(509) 430-8986
Added: Mar 27
Changed: Aug 25
Last Checked: Sep 4 at 12:06AM
MLS# 291636
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2007, this office property occupies a one-acre site at 1123 N Grant Pl in Kennewick. The main level contains 3,700 sf formerly used as a Microdental Lab, complemented by 1,000 sf of daylight basement storage. Existing fixtures and equipment may be available for negotiation with Microdental.
The building was planned for three occupants and includes two ground-level daylight basement-style areas in semi-vanilla-shell condition. These spaces are currently open and may function as a combined area. The property is fully landscaped and in excellent condition. COMMCL OFFICE zoning supports its office-oriented configuration, with availability for sale or lease.
The building was planned for three occupants and includes two ground-level daylight basement-style areas in semi-vanilla-shell condition. These spaces are currently open and may function as a combined area. The property is fully landscaped and in excellent condition. COMMCL OFFICE zoning supports its office-oriented configuration, with availability for sale or lease.
Key Highlights
- 3,700 sf of former Microdental Lab space on the main level
- Additional 1,000 sf of daylight basement storage
- One‑acre site with fully landscaped grounds
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,145
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.24%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,442,900
$1.4M
Cap Rate 7%
$1,030,643
$1.0M
Cap Rate 9%
$801,611
$801.6K
Market Conditions
NOI Build-Up for 4,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$103.2K $21.96/SF
− Vacancy
−$7.0K −$1.49/SF
EGI
$96.2K $20.47/SF
− OpEx
−$24.0K −$5.12/SF
NOI
$72.1K $15.35/SF
Area
Benton County, WA
Vacancy
6.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,442,900
Cap Rate 7%
$1,030,643
Cap Rate 9%
$801,611
Alternative Uses
Best Use
Office B
$1.03M
$901.8K – $1.20M
NOI $72,145 @ 7.0% cap · market cap 4.24%
Second Best
Healthcare Medical
$996.5K
$872.0K – $1.16M
NOI $69,758 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,252 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 99336, WA
51,127
Population
20,915
Households
2.4
Avg Household Size
33
Median Age
21%
College-Educated
85%
High-School Grad
13.4 sq mi
ZIP Area
3,815
Density / Sq Mi
$63,308
Median Household Income
$38,211
Median Earnings
$1,155
Median Rent
$292,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - A one-acre office property with landscaped grounds, daylight basement areas, and a configuration suited to multiple occupants.
Where is this office building located?
The property is located at 1123 N Grant Pl Kennewick, WA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 3,700 sf of former Microdental Lab space on the main level; Additional 1,000 sf of daylight basement storage; One‑acre site with fully landscaped grounds
