Assisted Living Facility with Common
For Sale
$2,500,000
1213 N Morain Loop, Kennewick, WA 99336
Purpose-built facility combines residential, administrative, and service areas in a maintained commercial setting.
Property Size14,997 SF
Price / SF$166.70
Days on Market358
Property Features for 1213 N Morain Loop
General Information
Standard status
Active
Size
14,997 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,634
Amenities
Heat Pump
3
River
27878.400390625
In City, Paved Road.
Building Details
Year Built
1968
Listing Agency:
Tri-Cities Realty Group, LLC
(509) 366-1470
Listed By:
Clint Oliver · License #27517
(509) 366-1470
Source:
Xome
Added: Sep 7, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:29AM
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 Tri-Cities Realty Group, LLC
Investment Insights
Based on property information with market context.
This 14,997-square-foot assisted living facility was built in 1968 with a layout designed for residential care and support operations. The property contains 22 rooms, 15 bathrooms, program bedrooms, and a three-bedroom manager’s suite, along with common areas, offices, a commercial kitchen, and laundry facilities. A heat pump provides heating and cooling, while ADA compliance and a full fire system support the building’s operational infrastructure.
The property is located at 1213 N Morain Loop in Kennewick, Washington, within the city and along a paved road. Its combination of resident rooms, management space, shared areas, kitchen facilities, and administrative offices provides a substantial existing configuration for assisted living operations.
The property is located at 1213 N Morain Loop in Kennewick, Washington, within the city and along a paved road. Its combination of resident rooms, management space, shared areas, kitchen facilities, and administrative offices provides a substantial existing configuration for assisted living operations.
Key Highlights
- 22 rooms and 15 bathrooms
- Three‑bedroom manager’s suite
- Commercial kitchen, laundry, offices, and common areas
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
$115,546
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
4.62%
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%
$2,310,920
$2.3M
Cap Rate 7%
$1,650,657
$1.7M
Cap Rate 9%
$1,283,844
$1.3M
Market Conditions
NOI Build-Up for 14,997 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
$230.4K $15.36/SF
− Vacancy
−$20.3K −$1.35/SF
EGI
$210.1K $14.01/SF
− OpEx
−$94.5K −$6.30/SF
NOI
$115.5K $7.70/SF
Area
Benton County, WA
Vacancy
8.80%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$2,310,920
Cap Rate 7%
$1,650,657
Cap Rate 9%
$1,283,844
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.44M – $1.93M
NOI $115,546 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.16M
$3.64M – $4.85M
NOI $291,173 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Balanced
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
Questions? Ask Rey
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Similar Off Market Nearby
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- Legacy adult Family Homes LLC — 404 N Conway St, Kennewick, WA 99336
- Elysian Estates — 3174 W Payette Ave, Kennewick, WA 99336
Frequently Asked Questions
What type of property is this?
Assisted living facility - Purpose-built facility combines residential, administrative, and service areas in a maintained commercial setting.
Where is this assisted living facility located?
The property is located at 1213 N Morain Loop Kennewick, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 22 rooms and 15 bathrooms; Three‑bedroom manager’s suite; Commercial kitchen, laundry, offices, and common areas
