Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    924 George Washington Way Richland, WA 99352

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $9,500 /Mo ($14 SF/Yr)

    Land available for ground lease in Richland, Washington.

    Property size:
    7,836 SF
    Lot size:
    7.00 Acres

    Property Features for 924 George Washington Way

    General Information

    Size
    7,836 SF
    Lot size
    7.00 Acres

    Building Details

    Year built
    1954

    We can help!

    Listing Contact
    Taylor Gibbons
    Source: Svn

    Listing Agent: Taylor Gibbons

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Land for Ground Lease

    This property offers land available for ground lease. The 7,836 square-foot parcel is located in the same parking lot as a new Panda Express in Richland, Washington.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Panda Express Asian Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Spa & Massage Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richland
    County
    Benton
    State
    Washington
    Longitude
    -119.27332
    Latitude
    46.2792018

    Nearby Similar for Lease

    • $12 SF/Yr
      40,000 SF

      Richland Office and Warehouse Spaces

      Office and warehouse spaces for lease in North Richland.
      2940 George Washington Way, Richland, WA 99354
      View Details
    • $4,100 /Mo
      10,000 SF

      Richland Airport Business Park Flex

      Two move-in ready, heated and cooled buildings in Richland.
      1893 Terminal Dr, Richland, WA 99352
      View Details
    • $27 SF/Yr
      4,650 SF

      New Retail Center with Patios

      Modern retail spaces available in a high-visibility location.
      5077 Ava Way, Richland, WA
      View Details
    • $18 SF/Yr
      3,004 SF

      Professional Office Suite For Rent

      Premier Richland office suite with negotiable lease terms available now.
      400 Columbia Point Dr, Richland, WA 99352
      View Details
    • $15 SF/Yr
      2,800 SF

      Climate-Controlled Warehouse with Drive-Through

      2,800 SF climate-controlled warehouse space with drive-through access.
      1333-1339 Tapteal Dr, Richland, WA 99352
      View Details
    • $4,400 /Mo
      3,750 SF

      Industrial Space with Fenced Laydown

      3,750 SF industrial space with 10,000 SF fenced laydown.
      191 East Reata Rd, Richland, WA 99352
      View Details
    • $15 SF/Yr
      3,808 SF

      New Flex Space Business Center

      New flex space in Richland with high visibility.
      3121 Leslie Rd, Richland, WA 99352
      View Details
    • $12 SF/Yr
      53,760 SF

      Richland Flex Space: Prime Location

      New 53,760 SF Flex Space Available
      2509 Logan St, Richland, WA 99354
      View Details
    • $10 SF/Yr
      6,020 SF

      Richland Flex Space For Lease

      6,020 SF flex space with office/showroom in Richland, WA.
      2465 Stevens Dr, Richland, WA 99354
      View Details
    • $17 SF/Yr
      1,400 SF

      New Retail/Office Space Available

      Brand new retail/office suites in rapidly growing business park.
      2385 Robertson Dr, Richland, WA 99354
      View Details
    • $13 SF/Yr
      4,000 SF

      Warehouse with Office in Richland

      4,000 SF warehouse with office space for lease.
      2510 Aileron Ln, Richland, WA 99354
      View Details
    • $17 SF/Yr
      8,543 SF

      Medical Office Near Kadlec Hospital

      Two-story professional building near Kadlec Hospital with flexible layout.
      829 Goethals Dr, Richland, WA 99352
      View Details

    FAQs

    What type of property is this?
    Land - Land available for ground lease in Richland, Washington.
    Where is this land located?
    The property is located at 924 George Washington Way Richland, WA.
    What is the lease rate?
    The lease rate is $14 SF/Yr.
    What are key features of this property?
    This property features: - Ground lease land.; - Located in the same parking lot as a brand new Panda Express.; - Year Built: 1954
    (509) 939-1741
    Request Owner's contact information
    924 George Washington Way Richland, WA 99352
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    924 George Washington Way
    Richland, WA 99352
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    924 George Washington Way Richland, WA 99352
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Taylor Gibbons
    (509) 939-1741
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.