Freestanding Restaurant
For Sale
$900,000
1185 George Washington Way, Richland, WA 99352
A corner-site restaurant with an equipped kitchen, dining and banquet seating, and a beer and wine license.
Property Size2,940 SF
Price / SF$306.12
Days on Market182
Property Features for 1185 George Washington Way
General Information
Standard status
Active
Size
2,940 SF
Total Parking Spaces
38
Property subtype
Commercial
Zoning
CBD
Additional Details
Business Included
Yes
Seating Capacity
106
Currently Operating
Yes
Taxes and HOA fees
Annual Taxes
$3,838
Building Details
Building Size
2,940 SF
Year Built
1962
Buildings
1
Stories
1
Listing Agency:
ERA Freeman & Associates
(503) 665-3144
Listed By:
Samantha Chan · License #891200147
(503) 887-6888
Source:
Jmannrealty
Added: Apr 30
Changed: Oct 27
Last Checked: Oct 27 at 3:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ERA Freeman & Associates
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Investment Insights
Based on property information with market context.
The freestanding restaurant building at 1185 George Washington Way in Richland contains 2,940 square feet and dates to 1962. Its dining and banquet rooms provide 106 seats, and the kitchen is fully equipped. The property has CBD zoning and a beer and wine license.
Situated on a corner lot, the building is served by a large parking area on three sides. The seller has been associated with the restaurant for 32 years.
Situated on a corner lot, the building is served by a large parking area on three sides. The seller has been associated with the restaurant for 32 years.
Key Highlights
- 2,940‑square‑foot freestanding restaurant building, built in 1962
- 106 seats across dining and banquet rooms
- Fully equipped kitchen and beer and wine license
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,294
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,880
$905.9K
Cap Rate 7%
$647,057
$647.1K
Cap Rate 9%
$503,267
$503.3K
Market Conditions
NOI Build-Up for 2,940 SF
Gross rent
$63.5K $21.60/SF
− Vacancy
−$3.1K −$1.06/SF
EGI
$60.4K $20.54/SF
− OpEx
−$15.1K −$5.14/SF
NOI
$45.3K $15.41/SF
Area
Benton County, WA
Vacancy
4.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,880
Cap Rate 7%
$647,057
Cap Rate 9%
$503,267
Alternative Uses
Best Use
Specialty Retail
$647.1K
$566.2K – $754.9K
NOI $45,294 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$815.4K
$713.5K – $951.4K
NOI $57,081 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,845
Businesses Nearby
181k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 23%
Home Improvements & Furnishings 9%
Hotels & Casinos 1%
McDonald's
Dining
32,908 visits/mo
0.1 miles
Wendy's
Dining
27,463 visits/mo
0.3 miles
Dollar Tree
Shops & Services
21,224 visits/mo
0.2 miles
Circle K
Shops & Services
19,214 visits/mo
0.4 miles
Griggs Ace Hardware & Sporting Goods - Richland
Home Improvements & Furnishings
16,755 visits/mo
0.5 miles
Demographics for 99352, WA
35,762
Population
15,522
Households
2.3
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
24.0 sq mi
ZIP Area
1,490
Density / Sq Mi
$96,875
Median Household Income
$65,348
Median Earnings
$1,457
Median Rent
$442,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A corner-site restaurant with an equipped kitchen, dining and banquet seating, and a beer and wine license.
Where is this conventional restaurant located?
The property is located at 1185 George Washington Way Richland, WA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,940‑square‑foot freestanding restaurant building, built in 1962; 106 seats across dining and banquet rooms; Fully equipped kitchen and beer and wine license
