Freestanding Restaurant with Banquet
For Sale
$900,000
1185 George Washington Way, Richland, WA 99352
CommercialSale, Richland, WA
Property Size2,940 SF
Price / SF$306.12
Days on Market163
Property Features for 1185 George Washington Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Directions
On George Washington Way, turn west on Guyer Street
Subdivision
_88
Standard status
Active
APN
36370
Size
2,940 SF
Taxes and HOA fees
Tax Description
RICHLAND, SUBDIVISION: THE SPUDNUT SHOP (PLAT OF) LOT 3 & 4 BLK 14
Tax Annual Amount
3839
Legal Description
RICHLAND, SUBDIVISION: THE SPUDNUT SHOP (PLAT OF) LOT 3 & 4 BLK 14
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1962
Floors in Building
1
Building materials
Block, WoodSiding
Roof type
Rubber
Listing Agency:
Weichert Realtors, Equity NW
(360) 253-1212
Listed By:
Samantha Chan · License #891200147
(503) 887-6888
Added: Apr 30
Changed: Oct 7
Last Checked: Oct 9 at 8:06AM
MLS# 146622443
Copyright © 2026 Regional Multiple Listing Services. 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 freestanding restaurant contains 2,940 square feet with seating for 106 across dining and banquet areas. The kitchen is fully equipped, and the operation holds a beer and wine license. The building dates to 1962 and has block and wood siding construction, forced-air heat, central air conditioning, and a rubber roof.
The property occupies a corner lot in Richland, with parking situated along three sides of the building. Its zoning designation is CBD. The restaurant has operated as a family business for 32 years.
The property occupies a corner lot in Richland, with parking situated along three sides of the building. Its zoning designation is CBD. The restaurant has operated as a family business for 32 years.
Key Highlights
- 2,940‑square‑foot freestanding restaurant
- 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.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
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
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Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - A 106-seat operation includes a fully equipped kitchen and beer-and-wine service authorization.
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; 106 seats across dining and banquet rooms; Fully equipped kitchen and beer and wine license
