Two-Building Mixed-Use
For Sale
$790,000
200 Volland St, Kennewick, WA 99336
Two buildings combine office and retail space, with parking positioned in front and behind the property.
Property Size6,360 SF
Price / SF$124.21
Days on Market876
Property Features for 200 Volland St
General Information
Standard status
Active
Size
6,360 SF
Property subtype
General Commercial
Occupancy
90%
Amenities
3
14374.7998046875
Building Details
Year Built
1960
Buildings
2
Listing Agency:
SVN Retter & Company
(509) 308-1401
Listed By:
Aaron Rowe · License #100550
(509) 308-1401
Source:
Xome
Added: Apr 9, 2024
Changed: Aug 31
Last Checked: Aug 31 at 2:35PM
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 offering includes two commercial buildings with a combined office and retail configuration. Approximately 90% of the space is leased, while about 1,100 square feet remains available. Parking is provided on both sides of the buildings, supporting access for occupants and visitors. The improvements date to 1960.
The property is located at 200 and 210 N Volland St. in Kennewick, directly behind Crossroads Mall and near the Union and Clearwater intersection. Its mixed-use layout accommodates both office and retail occupancy within the same two-building investment.
The property is located at 200 and 210 N Volland St. in Kennewick, directly behind Crossroads Mall and near the Union and Clearwater intersection. Its mixed-use layout accommodates both office and retail occupancy within the same two-building investment.
Key Highlights
- Two‑building commercial property with office and retail space
- Approximately 90% leased
- About 1,100 SF available to rent
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
$51,344
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
6.50%
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%
$1,026,880
$1.0M
Cap Rate 7%
$733,486
$733.5K
Cap Rate 9%
$570,489
$570.5K
Market Conditions
NOI Build-Up for 6,360 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
$89.3K $14.04/SF
− Vacancy
−$7.1K −$1.12/SF
EGI
$82.2K $12.92/SF
− OpEx
−$30.8K −$4.84/SF
NOI
$51.3K $8.07/SF
Area
Benton County, WA
Vacancy
8.00%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
37.50%
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%
$1,026,880
Cap Rate 7%
$733,486
Cap Rate 9%
$570,489
Alternative Uses
Best Use
Office B
$1.39M
$1.22M – $1.63M
NOI $97,626 @ 7.0% cap · market cap 12.36%
Second Best
Retail
$1.07M
$935.6K – $1.25M
NOI $74,847 @ 7.0% cap · market cap 9.47%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,482 @ 7.0% cap · market cap 15.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
90%
Occupancy
Location Intelligence
Trade Area within ½ mile
567
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?
Mixed-use property - Two buildings combine office and retail space, with parking positioned in front and behind the property.
Where is this mixed-use property located?
The property is located at 200 Volland St Kennewick, WA.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Two‑building commercial property with office and retail space; Approximately 90% leased; About 1,100 SF available to rent
