Mixed-Use Property with
New
For Sale
Contact for pricing
1345 Lee Blvd, Richland, WA 99352
The C-3-zoned building combines retail and office areas with flex and warehouse space.
Property Size7,027 SF
Price / SF$141.60
Days on Market6
Property Features for 1345 Lee Blvd
General Information
Standard status
Active
Size
7,027 SF
Property subtype
RETAIL
Zoning
C-3 Commercial General
Site & Location
Corner Location
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Mixed-Use Components
retail/office, flex/warehouse
Additional Details
Drive-In Doors
3
Tenant in Place
Yes
Property Use
Flex
Listing Agency:
SVN Retter & Company
(509) 737-9429
Listed By:
Scott Howell · License #131443
(509) 379-3111
Source:
Moodyscre
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 24 at 8:20PM
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
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Investment Insights
Based on property information with market context.
The 7,027-square-foot property brings retail and office areas together with flex and warehouse space. Three 10' x 10' garage doors serve the warehouse area, while a fenced outdoor yard provides parking and laydown space. The property is zoned C-3 Commercial General.
The site occupies a signalized intersection at Wellsian Way and Lee Boulevard in Richland, Washington.
The site occupies a signalized intersection at Wellsian Way and Lee Boulevard in Richland, Washington.
Key Highlights
- 7,027 square feet of mixed‑use space
- Retail, office, flex, and warehouse areas
- Three 10' x 10' garage doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,697
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,653,940
$1.7M
Cap Rate 7%
$1,181,386
$1.2M
Cap Rate 9%
$918,856
$918.9K
Market Conditions
NOI Build-Up for 7,027 SF
Gross rent
$126.5K $18.00/SF
− Vacancy
−$8.3K −$1.19/SF
EGI
$118.1K $16.81/SF
− OpEx
−$35.4K −$5.04/SF
NOI
$82.7K $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%
$1,653,940
Cap Rate 7%
$1,181,386
Cap Rate 9%
$918,856
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.38M
NOI $82,697 @ 7.0% cap · market cap 8.31%
Second Best
Mixed Use
$810.4K
$709.1K – $945.5K
NOI $56,729 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$1.95M
$1.71M – $2.27M
NOI $136,432 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,608
Businesses Nearby
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Business Placement
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
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - The C-3-zoned building combines retail and office areas with flex and warehouse space.
Where is this mixed-use property located?
The property is located at 1345 Lee Blvd Richland, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 7,027 square feet of mixed‑use space; Retail, office, flex, and warehouse areas; Three 10' x 10' garage doors
