Restaurant with Mezzanine and
For Sale
$1,900,000
7000 Okanogan Place, Kennewick, WA 99336
Sale includes the business, real property, furniture, fixtures, and equipment.
Property Size4,121 SF
Price / SF$461.05
Days on Market646
Property Features for 7000 Okanogan Place
General Information
Standard status
Active
Size
4,121 SF
Property subtype
General Commercial
Amenities
3
26+ Spaces.
23086.80078125
Building Details
Year Built
2007
Listing Agency:
SVN Retter & Company
(509) 379-3111
Listed By:
Scott Howell · License #99089
(509) 379-3111
Source:
Xome
Added: Nov 24, 2024
Changed: Aug 31
Last Checked: Aug 31 at 12:35PM
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
Investment Insights
Based on property information with market context.
This conventional restaurant offering combines the business and real property with its existing furniture, fixtures, and equipment. The dining area connects to a mezzanine on the second floor, providing another area for seating. A downstairs patio adds a separate outdoor dining component.
The property is located at 7000 W Okanogan Pl in Kennewick’s Vista Field area, with access off Grandridge and Okanogan. The sale structure includes both the restaurant operation and the underlying real estate, creating a single acquisition opportunity for the complete property and business package.
The property is located at 7000 W Okanogan Pl in Kennewick’s Vista Field area, with access off Grandridge and Okanogan. The sale structure includes both the restaurant operation and the underlying real estate, creating a single acquisition opportunity for the complete property and business package.
Key Highlights
- Business and real property included in the sale
- Furniture, fixtures, and equipment included
- Mezzanine adjoining the dining area on the second floor
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
$63,489
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
3.34%
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%
$1,269,780
$1.3M
Cap Rate 7%
$906,986
$907.0K
Cap Rate 9%
$705,433
$705.4K
Market Conditions
NOI Build-Up for 4,121 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
$89.0K $21.60/SF
− Vacancy
−$4.4K −$1.06/SF
EGI
$84.7K $20.54/SF
− OpEx
−$21.2K −$5.14/SF
NOI
$63.5K $15.41/SF
Area
Benton County, WA
Vacancy
4.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,269,780
Cap Rate 7%
$906,986
Cap Rate 9%
$705,433
Alternative Uses
Best Use
Specialty Retail
$907.0K
$793.6K – $1.06M
NOI $63,489 @ 7.0% cap · market cap 3.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$1.00M – $1.33M
NOI $80,011 @ 7.0% cap · market cap 4.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,148
Businesses Nearby
318k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Apparel 28%
Shops & Services 17%
Hotels & Casinos 3%
Ross Dress for Less
Apparel
42,445 visits/mo
0.3 miles
McDonald's
Dining
34,907 visits/mo
0.4 miles
Sportsman's Warehouse
Apparel
31,880 visits/mo
0.3 miles
Michaels
Shops & Services
26,376 visits/mo
0.3 miles
Red Robin Gourmet Burgers
Dining
25,726 visits/mo
0.4 miles
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Sale includes the business, real property, furniture, fixtures, and equipment.
Where is this conventional restaurant located?
The property is located at 7000 Okanogan Place Kennewick, WA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Business and real property included in the sale; Furniture, fixtures, and equipment included; Mezzanine adjoining the dining area on the second floor
