Two-Building Warehouse
For Sale
$1,650,000
1893 Airport Way, Richland, WA 99352
The offering combines two leased industrial buildings with fenced yard space and a mix of warehouse and open interiors.
Property Size10,000 SF
Price / SF$165
Days on Market839
Property Features for 1893 Airport Way
General Information
Standard status
Active
Size
10,000 SF
Property subtype
COMMERCIAL
Building Details
Building Size
10,000 SF
Year Built
2010
Listing Agency:
SVN Retter & Company
Listed By:
Rob Ellsworth · License ##17790
(509) 430-2378
Source:
Desertedgerealtygroup
Added: Jul 11, 2024
Changed: Oct 27
Last Checked: Oct 27 at 3:28AM
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 offering includes two industrial buildings: a 6,000-square-foot warehouse at 1893 Airport Way and a 4,000-square-foot building at 1941 Terminal Drive. The warehouse contains 436 square feet of finished space, a fenced yard, high-bay doors, and three-phase power. The second building is configured as open space, with two overhead doors and a glass storefront-style entrance. Both buildings have heating and cooling systems and are fully leased.
The properties are subject to a long-term ground lease with the Port of Benton. Together, the buildings provide warehouse and open-plan space across two addresses in Richland.
The properties are subject to a long-term ground lease with the Port of Benton. Together, the buildings provide warehouse and open-plan space across two addresses in Richland.
Key Highlights
- 6,000‑square‑foot warehouse with 436 square feet of finished space
- 4,000‑square‑foot open‑plan building at 1941 Terminal Drive
- Fenced yard and high‑bay doors at 1893 Airport Way
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,279
Cap Rate
4.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,585,580
$1.6M
Cap Rate 7%
$1,132,557
$1.1M
Cap Rate 9%
$880,878
$880.9K
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$132.0K $13.20/SF
− Vacancy
−$10.0K −$1.00/SF
EGI
$122.0K $12.20/SF
− OpEx
−$42.7K −$4.27/SF
NOI
$79.3K $7.93/SF
Area
Benton County, WA
Vacancy
7.60%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,585,580
Cap Rate 7%
$1,132,557
Cap Rate 9%
$880,878
Alternative Uses
Best Use
Flex RnD
$1.13M
$991.0K – $1.32M
NOI $79,279 @ 7.0% cap · market cap 4.80%
Second Best
Warehouse
$893.3K
$781.6K – $1.04M
NOI $62,531 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$2.77M
$2.43M – $3.24M
NOI $194,154 @ 7.0% cap · market cap 11.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Balanced
Demand for This Use
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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
Similar Off Market Nearby
- Richland Secure Self Storage — 2376 Lindberg Loop, Richland, WA 99354
- Butler Loop Mini Storage — 1975 Butler Loop, Richland, WA 99354
- Richland Airport Mini-Storage — 2008 Butler Loop, Richland, WA 99354
- Lineage — 2025 Saint St, Richland, WA 99354
Frequently Asked Questions
What type of property is this?
Warehouse - The offering combines two leased industrial buildings with fenced yard space and a mix of warehouse and open interiors.
Where is this warehouse located?
The property is located at 1893 Airport Way Richland, WA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 6,000‑square‑foot warehouse with 436 square feet of finished space; 4,000‑square‑foot open‑plan building at 1941 Terminal Drive; Fenced yard and high‑bay doors at 1893 Airport Way
