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    Fully Occupied Retail Center Title is generated by Realmo AI

    1217 Thayer Dr, Richland, WA 99352

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    Neighborhood retail center with diverse tenants and ample parking.

    Type:Retail, Industrial
    Property size:
    5,181 SF
    Price / SF:
    $186/SF
    Added:
    Feb 20, 2026
    Days on Market:
    126
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 1217 Thayer Dr

    General Information

    Standard status
    Active
    Size
    5,181 SF
    Property subtype
    Retail, Industrial

    Building Details

    Year Built
    1943

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    Rob Ellsworth

    Listing office SVN | Retter & Company

    Listing date Feb 20, 2026

    Source Crexi

    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 SVN | Retter & Company

    HighLights

    • Fully occupied retail center providing immediate income
    • Diverse tenant mix (coffee stand, preschool, fish wholesaler) reduces risk
    • Established operating history indicates stability
    • Expansive parking lot enhances customer accessibility
    • Opportunity for a stable, passive investment
    • Year Built: 1943

    Overview

    This fully occupied neighborhood retail center features a strong and diverse tenant mix and an established operating history. The property is suitable for shopping centers, retail properties and spaces, coffee shops, restaurants, day care centers, specialty properties, and general commercial real estate. Current tenants include a coffee stand, a preschool, and a live fish wholesaler. The property features an expansive parking lot, providing ample convenience for customers and staff. The property size is 5181 square feet. This presents an excellent opportunity for a stable, passive investment.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $111.9k $21.60
    − Vacancy −$5.5k −$1.06
    EGI $106.4k $20.54
    − OpEx −$26.6k −$5.14
    NOI $79.8k $15.41
    5,181 SF · lease $21.60/SF/yr · vacancy 4.90% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $1.14M
    $997.8K – $1.33M (±1% cap)
    NOI $79,820 @ 7.0% cap · market cap 8.27%
    Second Best
    Retail
    $871.0K
    $762.2K – $1.02M (±1% cap)
    NOI $60,972 @ 7.0% cap · market cap 6.32%
    Theoretical Best
    Office A
    $1.44M
    $1.26M – $1.68M (±1% cap)
    NOI $100,591 @ 7.0% cap · market cap 10.42%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

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    Location Insight

    • Map
    • Local Demand
    City
    Richland
    County
    Benton
    State
    Washington
    Longitude
    -119.2908545
    Latitude
    46.2849403

    FAQs

    What type of property is this?
    Shopping center - Neighborhood retail center with diverse tenants and ample parking.
    Where is this shopping center located?
    The property is located at 1217 Thayer Dr Richland, WA.
    What is the asking price?
    The asking price for this property is $965,000.
    What are key features of this property?
    This property features: Fully occupied retail center providing immediate income; Diverse tenant mix (coffee stand, preschool, fish wholesaler) reduces risk; Established operating history indicates stability
    (509) 430-2378 Call to check price and availability
    More about this property
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