Building Details

Building Size 1,680 SF

Year Built 2022

Listing Agency: RE/MAX, The Collective

Listed By: Timothy Bush Jr · License #23037957 Show Phone

Source: Desertedgerealtygroup

Added: Mar 29, 2025 Changed: Oct 27 Last Checked: Oct 27 at 4:40AM

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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 RE/MAX, The Collective

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Investment Insights

Based on property information with market context.

This 1680-square-foot flex unit, built in 2022, offers climate-controlled interior space with a full bathroom, utility sink, and storage above the bathroom. A commercial-grade overhead door measures 20 feet wide by 14 feet tall, with a separate man door for entry. Interior features include custom flooring, full lighting, 110V outlets around the unit, a ceiling fan, and full RV hookups.

Electrical service includes 100 amps and a dedicated 50-amp plug. The gated facility provides access 24 hours a day, seven days a week, with camera monitoring.

Key Highlights

• 1680‑square‑foot unit
• Climate‑controlled space with full bathroom and utility sink
• 20' wide x 14' tall commercial‑grade garage door and separate man door

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,319

Cap Rate

3.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$266,380 $266.4K

Cap Rate 7%

$190,271 $190.3K

Cap Rate 9%

$147,989 $148.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,680 SF

Gross rent

$22.2K $13.20/SF

− Vacancy

−$1.7K −$1.00/SF

EGI

$20.5K $12.20/SF

− OpEx

−$7.2K −$4.27/SF

NOI

$13.3K $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%

$266,380

Cap Rate 7%

$190,271

Cap Rate 9%

$147,989

Alternative Uses

Best Use

Flex RnD

$190.3K

$166.5K – $222.0K (±1% cap)

NOI $13,319 @ 7.0% cap · market cap 3.33%

Second Best

Warehouse

$150.1K

$131.3K – $175.1K (±1% cap)

NOI $10,505 @ 7.0% cap · market cap 2.63%

Theoretical Best

Office A

$466.0K

$407.7K – $543.6K (±1% cap)

NOI $32,618 @ 7.0% cap · market cap 8.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Muse Prime Marketing ... Advertising Agency

Suggested Use

Top Pick Big Box & Wholesale Store Auto Parts Store Building Supply HVAC Service Furniture & Home Goods Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Location Intelligence

Trade Area within ½ mile

455

Businesses Nearby

Under-served

Demand for This Use

Explore this area 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

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - The unit combines a full bathroom, interior RV hookups, and a commercial-grade garage door.

Where is this flex space located?

The property is located at 308 Wellhouse Loop #1E Richland, WA.

What is the asking price?

The asking price for this property is $399,999.

What are key features of this property?

This property features: 1680‑square‑foot unit; Climate‑controlled space with full bathroom and utility sink; 20' wide x 14' tall commercial‑grade garage door and separate man door