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

    81 Columbia Point Dr Richland, WA 99352

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,375,000

    Grocery-anchored Dollar Tree NNN investment property for sale.

    Property size:
    25,000 SF
    Lot size:
    1.98 Acres

    Property Features for 81 Columbia Point Dr

    General Information

    Standard status
    Active
    Size
    25,000 SF
    Lot size
    1.98 Acres

    Building Details

    Year built
    2004

    We can help!

    Listing Contact
    Derrick Stricker
    Derrick Stricker
    Source: Exitrealty

    Listing Agency: StrickerCRE Listing Agent: Derrick Stricker

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

    Learn more

    Overview

    Grocery-Anchored Dollar Tree NNN Investment

    This grocery-anchored Dollar Tree NNN investment property offers an opportunity for investors seeking stable, long-term cash flow with minimal management responsibilities. The property, with a size of 25000 square feet, is priced at $6,375,000. It provides a 6.69% CAP rate and generates a net operating income (NOI) of $426,016 annually. The anchor tenant, Dollar Tree, occupies 19,966 square feet. Dollar Tree recently extended its lease for 8 additional years, through January 2032, with two 5-year renewal options that could extend their tenancy until 2042. There is a vacant 5,000 square foot suite adjacent to Dollar Tree that is a former Mattress Suite and is listed for lease for $22.50/SF. NNN estimates are $3.75 and WinCo Grocery manages all of the Center's Common Area Maintenance.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Richland
    County
    Benton
    State
    Washington
    Longitude
    -119.2647027
    Latitude
    46.2621805

    Nearby Similar for Sale

    • New
      $450,000
      3,600 SF

      Spacious Richland Duplex with Updates

      Updated duplex in Richland offering investment or owner-occupancy potential.
      1507/1509 Judson Ave, Richland, WA 99354
      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
    • New
      $415,000
      Pending

      Renovated Richland Duplex Opportunity

      Updated duplex in Richland, WA near Hanford, PNNL, and WSU.
      508/510 Douglass 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
    • $449,000
      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
      $395,000
      1,880 SF

      Richland Duplex with Income Potential

      Duplex in Richland, WA with owner financing available.
      502/504 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
    • $1,115,000
      10,422 SF

      Richland Flex/Industrial/Office/Manufacturing Building

      Flex/industrial/office/manufacturing building featuring security and upgraded systems.
      2765 Salk Ave, Richland, WA 99354
      View Details
    • $942,739
      7,125 SF

      Richland Commercial Property Investment

      Fully occupied commercial property in Richland with high visibility.
      1177 Jadwin Ave, 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
    • Contact for pricing
      7,700 SF

      New Retail/Office Space Available

      Shell space in Horn Rapids Business Park, design your suite.
      2385 Robertson Dr, Richland, WA 99354
      View Details
    • Contact for pricing
      15,000 SF

      Warehouse/Office Build to Suit

      Warehouse/Office space available for sale, build to suit.
      750 Curie St, Richland, WA 99354
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Grocery-anchored Dollar Tree NNN investment property for sale.
    Where is this grocery and convenience store located?
    The property is located at 81 Columbia Point Dr Richland, WA.
    What is the asking price?
    The asking price for this property is $6,375,000.
    What are key features of this property?
    This property features: - Grocery-anchored investment property with stable, long-term cash flow.; - Attractive 6.69% CAP rate and $426,016 net operating income (NOI).; - **Dollar Tree, a well-established national credit tenant, occupies the majority of the space (19,966 SF).**
    (509) 430-8533
    Request Owner's contact information
    81 Columbia Point Dr Richland, WA 99352
    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.
    81 Columbia Point Dr
    Richland, WA 99352
    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
    81 Columbia Point Dr Richland, WA 99352
    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
    Derrick Stricker
    Derrick Stricker
    Real Estate License ID: 22021066
    (509) 430-8533 (509) 591-9949
    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!