Office Units with Existing
For Sale
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415 Wright Ave, Richland, WA 99352
The interior is presently configured for office occupancy.
Property Size6,160 SF
Price / SF$0.63
Days on Market911
Property Features for 415 Wright Ave
General Information
Standard status
Active
Size
6,160 SF
Property subtype
COMMERCIAL
Additional Details
Condition
Built-Out
Property Use
Office/Retail
Building Details
Building Size
6,160 SF
Year Built
1963
Listing Agency:
SVN Retter & Company
Listed By:
Ashley Moala · License ##138102
(541) 379-1338
Source:
Desertedgerealtygroup
Added: Apr 30, 2024
Changed: Oct 26
Last Checked: Oct 26 at 3:16PM
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.
This 6,160-square-foot office property was built in 1963 and is currently arranged for office use. It is located at 415 Wright Ave in Richland, Washington.
Key Highlights
- 6,160 square feet configured for office use
- Built in 1963
- Located at 415 Wright Ave in Richland, WA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,493
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,449,860
$1.4M
Cap Rate 7%
$1,035,614
$1.0M
Cap Rate 9%
$805,478
$805.5K
Market Conditions
NOI Build-Up for 6,160 SF
Gross rent
$110.9K $18.00/SF
− Vacancy
−$7.3K −$1.19/SF
EGI
$103.6K $16.81/SF
− OpEx
−$31.1K −$5.04/SF
NOI
$72.5K $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%
$1,449,860
Cap Rate 7%
$1,035,614
Cap Rate 9%
$805,478
Alternative Uses
Best Use
Office B
$1.35M
$1.18M – $1.58M
NOI $94,556 @ 7.0% cap · market cap 2,424.51%
Second Best
Retail
$1.04M
$906.2K – $1.21M
NOI $72,493 @ 7.0% cap · market cap 1,858.79%
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,599 @ 7.0% cap · market cap 3,066.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
154
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 Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - The interior is presently configured for office occupancy.
Where is this office unit located?
The property is located at 415 Wright Ave Richland, WA.
What are key features of this property?
This property features: 6,160 square feet configured for office use; Built in 1963; Located at 415 Wright Ave in Richland, WA
