Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    214 Torbett St Richland, WA 99354

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,010,000

    Shopping centers

    Building Details

    Year built
    1975

    We can help!

    Listing Contact
    Rob Ellsworth, Ccim
    Source: Svn

    Listing Agency: Retter & Company Sotheby's International Realty Listing Agent: Rob Ellsworth, Ccim

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

    Learn more

    Overview

    Torbett Business Center is a well-established retail and office strip center offering a strong tenant mix and proven rental history. The property is anchored by long-standing tenants and benefits from a prime central Richland location. This asset presents an excellent opportunity to enhance and diversify your real estate portfolio.
    This retail plaza is ideally positioned just off George Washington Way in the center of Richland’s primary commercial corridor. Surrounded by established retailers, professional offices, schools, residential neighborhoods, and community services, the property benefits from a strong, built-in customer base. The site offers convenient access with easy ingress and egress from all directions.
    Fully Occupied
    Excellent Tenant Mix
    Prime Location just off G Way
    6.82% Cap Rate
    Location Intelligence

    Current Use by Public Records

    Take Heart Tattoo ... Tattoo & Piercing Shop Optical Accents Ophthalmologist Minuteman Press of Richland Custom T-Shirt Store Eagle Printing & Print ... (Bike/Boat/Book/etc) Store Poker Face Piercing Tattoo & Piercing Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    Coin Cloud Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Richland
    County
    Benton
    State
    Washington
    Longitude
    -119.2755322
    Latitude
    46.2923337

    Nearby Similar for Sale

    • $415,000
      3,600 SF

      Renovated Duplex in Richland, WA

      Updated duplex near Hanford, PNNL, WSU, parks, shopping, and riverfront.
      508/510 Douglass Ave, Richland, WA 99352
      View Details
    • $465,000
      2,350 SF

      Richland Duplex Investment Opportunity

      Duplex in Richland, WA, with seller financing.
      510 Goethals Dr, Richland, WA 99352
      View Details
    • New
      $449,000
      Pending

      Updated Duplex with 5-Car Garage

      Updated duplex with income potential and a large 5-car garage.
      1120/1122 Thayer Dr, Richland, WA 99354
      View Details
    • New
      $925,000
      Pending

      New Richland Triplex For Sale

      New construction triplex in desirable area near the river.
      1415 SE Carolina Ave, Richland, WA 99352
      View Details
    • $425,000
      3,600 SF

      Updated Duplex in Richland, WA

      Duplex with exterior updates and potential for interior improvements.
      504 Falley St, Richland, WA 99352
      View Details
    • $449,500
      3,600 SF

      Well-Maintained Duplex in Richland, WA

      Duplex with one vacant unit, perfect for owner occupant.
      1405 Marshall Ave, Richland, WA 99352
      View Details
    • $450,000
      2,478 SF

      Richland Duplex with Rental Income

      Duplex in Richland, WA with rental income potential.
      311 Casey Ave, Richland, WA 99352
      View Details
    • $1,500,000
      5,783 SF

      New Triplex in South Richland

      New construction triplex with high-end finishes and flexible usage options.
      1101 Fairhaven Loop, Richland, WA 99352
      View Details
    • $965,000

      Fully Occupied Richland Retail Center

      Neighborhood retail center with strong tenants and Thayer Drive frontage.
      1217 Thayer Dr, Richland, WA 99352
      View Details
    • $942,739

      Richland Commercial Property For Sale

      7,125 SF commercial property in the heart of Richland.
      1177 Jadwin Ave, Richland, WA 99352
      View Details
    • Contact for pricing

      Move-In Ready Retail/Flex Suite

      Retail/flex suite with highway frontage and excellent visibility.
      1953 Fowler St, Richland, WA 99352
      View Details
    • $2,750,000

      Richland Office Building For Sale

      Office building with national tenant, prime location, ample parking.
      1766 Fowler St, Richland, WA 99352
      View Details

    FAQs

    Where is this shopping center located?
    The property is located at 214 Torbett St Richland, WA.
    What is the asking price?
    The asking price for this property is $1,010,000.
    What are key features of this property?
    This property features: - Prime central Richland location in the primary commercial corridor.; - Fully occupied with a strong tenant mix.; - Proven rental history.
    (509) 430-2378
    Request Owner's contact information
    214 Torbett St Richland, WA 99354
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    214 Torbett St
    Richland, WA 99354
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    214 Torbett St Richland, WA 99354
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rob Ellsworth, Ccim
    Real Estate License ID: #17790
    (509) 430-2378 (509) 737-9429
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!