Fenced Flex Property With Four
For Sale
$775,000
536 W Deschutes, Kennewick, WA 99336
Commercial Sale, Kennewick, WA
Property Size6,700 SF
Lot Size1.00 Acre
Price / SF$115.67
Days on Market49
Property Features for 536 W Deschutes
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMCL GENERAL
Parking
11
Directions
Fruitland to W. Deschutes
Standard status
Active
APN
136994020008013 & 018
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3962
Amenities
completely fenced
Building Details
Year built
1977
Listing Agency:
Kiemle& Hagood Company
(509) 430-6547
Listed By:
Lance Bacon · License #25742
(509) 783-7663
Added: Jul 24
Changed: Sep 4
Last Checked: Sep 10 at 8:06AM
MLS# 294966
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.
This flex property comprises four separate buildings on a 1-acre commercial parcel. Improvements include a 1,600-square-foot office, a 1,400-square-foot home that could serve as office space, a 2,100-square-foot warehouse or shop, and a second 1,600-square-foot warehouse or shop positioned at the northeast corner of the property. A covered six-bay parking area supports the site, which is completely fenced.
The property is located at 536 W Deschutes in Kennewick, Washington, with the larger warehouse or shop building situated directly on Deschutes Ave. Zoning is COMMCL GENERAL, and the property was built in 1977. The combination of office, warehouse, shop, parking, and secured perimeter improvements provides a flexible commercial configuration.
The property is located at 536 W Deschutes in Kennewick, Washington, with the larger warehouse or shop building situated directly on Deschutes Ave. Zoning is COMMCL GENERAL, and the property was built in 1977. The combination of office, warehouse, shop, parking, and secured perimeter improvements provides a flexible commercial configuration.
Key Highlights
- Four separate buildings totaling 1,600 SF office, 1,400 SF home, 2,100 SF warehouse/shop, and 1,600 SF warehouse/shop
- 1‑acre commercial property
- Covered 6‑bay parking area
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
$53,117
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
6.85%
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%
$1,062,340
$1.1M
Cap Rate 7%
$758,814
$758.8K
Cap Rate 9%
$590,189
$590.2K
Market Conditions
NOI Build-Up for 6,700 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
$88.4K $13.20/SF
− Vacancy
−$6.7K −$1.00/SF
EGI
$81.7K $12.20/SF
− OpEx
−$28.6K −$4.27/SF
NOI
$53.1K $7.93/SF
Area
Benton County, WA
Vacancy
7.60%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,062,340
Cap Rate 7%
$758,814
Cap Rate 9%
$590,189
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.71M
NOI $102,845 @ 7.0% cap · market cap 13.27%
Second Best
Flex RnD
$758.8K
$664.0K – $885.3K
NOI $53,117 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,083 @ 7.0% cap · market cap 16.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Multi-building commercial property with office, warehouse, shop, and covered parking improvements.
Where is this flex space located?
The property is located at 536 W Deschutes Kennewick, WA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four separate buildings totaling 1,600 SF office, 1,400 SF home, 2,100 SF warehouse/shop, and 1,600 SF warehouse/shop; 1‑acre commercial property; Covered 6‑bay parking area
