Shopping Center at Signalized
1320 Lee Blvd, Richland, WA 99352
For Sale
New
Contact for pricing
Commercial Sale, Richland, WA
Property Size41,316 SF
Lot Size2.93 Acres
Price / SF$0.00
Days on Market5
Property Features for 1320 Lee Blvd
General Information
Property type
Property subtype
Zoning
Parking
Directions
Standard status
APN
Lot size
Additional Details
Corner Location
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Listing Agency:
NAI Tri-Cities Commercial
(509) 943-5200
Listed By:
Todd Sternfeld · License WA 7AA1183
(509) 539-3998
Added: Nov 5
Last Checked: Nov 9 at 9:06PM
MLS# 297671
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 41,316 SF former Albertsons occupies a 2.93-acre site at the signalized intersection of Lee Blvd and Jadwin Ave. The property can be configured for a single tenant or divided among multiple tenants, with pad development also identified as an option. Updates to the center include a new facade and parking lot.
The site is near the river, Richland High School, Kadlec Hospital, and the Federal Courthouse. More than 26,000 employees are within a five-minute drive. The building was constructed in 1987 and is located in Richland, Washington.
The site is near the river, Richland High School, Kadlec Hospital, and the Federal Courthouse. More than 26,000 employees are within a five-minute drive. The building was constructed in 1987 and is located in Richland, Washington.
Key Highlights
- 41,316 SF former Albertsons on a 2.93‑acre site
- Signalized corner at Lee Blvd and Jadwin Ave
- Options include single‑tenant, multi‑tenant, or pad development
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$486,223
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,724,460
$9.7M
Cap Rate 7%
$6,946,043
$6.9M
Cap Rate 9%
$5,402,478
$5.4M
Market Conditions
NOI Build-Up for 41,316 SF
Gross rent
$743.7K $18.00/SF
− Vacancy
−$49.1K −$1.19/SF
EGI
$694.6K $16.81/SF
− OpEx
−$208.4K −$5.04/SF
NOI
$486.2K $11.77/SF
Area
Benton County, WA
Vacancy
6.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,724,460
Cap Rate 7%
$6,946,043
Cap Rate 9%
$5,402,478
Alternative Uses
Best Use
Retail
$6.95M
$6.08M – $8.10M
NOI $486,223 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.46M
$10.03M – $13.37M
NOI $802,168 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,034
Businesses Nearby
110k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 25%
Hotels & Casinos 1%
Electronics 1%
Wendy's
Dining
27,463 visits/mo
0.4 miles
Dutch Bros. Coffee
Dining
24,352 visits/mo
0.4 miles
Burger King
Dining
11,075 visits/mo
0.5 miles
Conoco
Shops & Services
7,987 visits/mo
0.0 miles
Arby's
Dining
7,236 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
View Realmo Analytics
Market
Properties on Market for Shopping centers in Benton County
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Shopping center - The former Albertsons can accommodate one occupant, multiple tenants, or pad development as the center receives exterior and parking upgrades.
Where is this shopping center located?
The property is located at 1320 Lee Blvd Richland, WA.
What are key features of this property?
This property features: 41,316 SF former Albertsons on a 2.93‑acre site; Signalized corner at Lee Blvd and Jadwin Ave; Options include single‑tenant, multi‑tenant, or pad development
