Two-Story Medical Office
For Sale
$5,750,000
320 Dayton St, Kennewick, WA 99336
Vacant facility with flexible Commercial Community zoning and multiple entry points for owner-user or adaptive reuse planning.
Property Size30,000 SF
Lot Size2.50 Acres
Price / SF$199.01
Days on Market472
Property Features for 320 Dayton St
General Information
Standard status
Active
Size
30,000 SF
Elevators
Yes
Lot size
2.50 Acres
Property subtype
General Commercial
Zoning
Commercial Community
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$36,594
Amenities
3
Parking.
51-100 Spaces.
2.5
Building Details
Year Built
2000
Buildings
1
Stories
2
Building Size
30,000 SF
Owner Occupied
No
Abandoned
No
Listing Agency:
StrickerCRE
(509) 430-8533
Listed By:
Derrick Stricker · License #7AA1290
(509) 430-8533
Source:
Xome
Added: May 17, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:32PM
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 StrickerCRE
Investment Insights
Based on property information with market context.
This vacant office property comprises approximately 30,000 SF across two levels, with matching 15,000 SF floorplates. The former medical facility includes more than 40 exam rooms on each floor, multiple entrances, and a central elevator system. Its layout was configured for up to four separate tenants, providing a substantial existing framework for office, medical, civic, or adaptive reuse applications supported by the stated zoning.
The building occupies a 2.5-acre corner parcel at 320 W Dayton St in Kennewick, Washington. It is next to a new fire station and a regional Recovery & Addiction Center, placing the property within an established community-service setting. Hospital facilities personnel continue to maintain the building, including its systems and utilities. Deed use restrictions should be verified with the listing broker.
The building occupies a 2.5-acre corner parcel at 320 W Dayton St in Kennewick, Washington. It is next to a new fire station and a regional Recovery & Addiction Center, placing the property within an established community-service setting. Hospital facilities personnel continue to maintain the building, including its systems and utilities. Deed use restrictions should be verified with the listing broker.
Key Highlights
- Approximately 30,000 SF office building on a 2.5‑acre corner parcel
- Two 15,000 SF floorplates with more than 40 exam rooms per floor
- Configured to accommodate up to four separate tenants
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
$443,509
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
7.71%
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%
$8,870,180
$8.9M
Cap Rate 7%
$6,335,843
$6.3M
Cap Rate 9%
$4,927,878
$4.9M
Market Conditions
NOI Build-Up for 28,893 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
$634.5K $21.96/SF
− Vacancy
−$43.1K −$1.49/SF
EGI
$591.3K $20.47/SF
− OpEx
−$147.8K −$5.12/SF
NOI
$443.5K $15.35/SF
Area
Benton County, WA
Vacancy
6.80%
Lease Rate
$21.96 /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%
$8,870,180
Cap Rate 7%
$6,335,843
Cap Rate 9%
$4,927,878
Alternative Uses
Best Use
Office B
$6.34M
$5.54M – $7.39M
NOI $443,509 @ 7.0% cap · market cap 7.71%
Second Best
Healthcare Medical
$6.13M
$5.36M – $7.15M
NOI $428,832 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$8.01M
$7.01M – $9.35M
NOI $560,970 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
827
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant facility with flexible Commercial Community zoning and multiple entry points for owner-user or adaptive reuse planning.
Where is this office building located?
The property is located at 320 Dayton St Kennewick, WA.
What is the asking price?
The asking price for this property is $5,750,000.
What are key features of this property?
This property features: Approximately 30,000 SF office building on a 2.5‑acre corner parcel; Two 15,000 SF floorplates with more than 40 exam rooms per floor; Configured to accommodate up to four separate tenants
