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    7113 W Okanogan Pl Kennewick, WA 99336

    For Sale
    $6,285,000

    Leased Washington State DSHS facility with assumable financing.

    Property size:
    21,229 SF
    Lot size:
    2.72 Acres

    Property Features for 7113 W Okanogan Pl

    General Information

    Size
    21,229 SF
    Lot size
    2.72 Acres

    Source: Marcus & Millichap, Inc. Agent Clayton Brown

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

    Overview

    Kennewick DSHS Facility For Sale

    The Washington State Department of Social and Health Services (DSHS) facility in Kennewick, WA is available for sale. Constructed in 2020 as a build-to-suit for DSHS, the property has been continuously occupied since completion and is customized to its operational needs. The property features a 10-year modified gross lease signed in 2020 with approximately 5 years remaining, guaranteed by the State of Washington. The lease includes one renewal option at fair market rent. The property has assumable financing at a 3.23% interest rate. The Department of Social and Health Services (DSHS) is a mission-critical arm of the Washington State government. The property is situated on 2.72 acres with approximately 85 parking stalls. The property serves a community of approximately 162,170 residents within a 5-mile radius. The population within a 5-mile radius has increased 16% since 2015 and rental rates have risen 33% cumulatively over the past decade. The property contains 21,229 square feet.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennewick
    County
    Benton
    State
    Washington
    Longitude
    -119.218194
    Latitude
    46.221015

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    FAQs

    What type of property is this?
    Office building - Leased Washington State DSHS facility with assumable financing.
    Where is this office building located?
    The property is located at 7113 W Okanogan Pl Kennewick, WA.
    What is the asking price?
    The asking price for this property is $6,285,000.
    What are key features of this property?
    This property features: - High-credit tenant: 10-year modified gross lease guaranteed by the State of Washington (Fitch: AA+) with approximately 5 years remaining.; - Attractive assumable financing: 3.23% interest rate, resulting in a 9.22% cash-on-cash return in Year 1, with approximately $3.774 million loan representing ~60% LTV.; - Recession-resilient income stream: Tenant is a mission-critical arm of the Washington State government (DSHS), with demand for services increasing during economic downturns.
    (206) 826-5700
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    7113 W Okanogan Pl Kennewick, WA 99336
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    Realmo Value Estimation

    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.

    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.

    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
    7113 W Okanogan Pl Kennewick, WA 99336
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