Remodeled Golf Course Office
For Sale
$650,000
1715 W Kennewick Ave, Kennewick, WA 99336
Recently updated office property with separately leasable upper and lower levels overlooking a golf course.
Property Size3,287 SF
Price / SF$197.75
Days on Market600
Property Features for 1715 W Kennewick Ave
General Information
Standard status
Active
Size
3,287 SF
Property subtype
General Commercial
Additional Details
Asking Price
$650,000
Office Units
2
Taxes and HOA fees
Annual Taxes
$3,952
Amenities
3
9583.2001953125
Building Details
Year Built
1996
Buildings
1
Stories
2
Building Size
3,287 SF
Listing Agency:
SVN Retter & Company
(509) 430-8986
Listed By:
Scott Sautell · License ##109003
(509) 430-8986
Source:
Xome
Added: Jan 9, 2025
Changed: Aug 30
Last Checked: Aug 31 at 2:26PM
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 office building contains 3,287 square feet arranged across two levels, with 1,708 square feet upstairs and 1,579 square feet downstairs. The interior was recently remodeled and is described as nicely finished, providing a modernized setting for office operations. Each floor can be leased independently, offering flexibility for separate occupants or users requiring distinct suites.
Built in 1996, the property overlooks a golf course and is located at 1715 W Kennewick Ave in Kennewick, Washington. The configuration combines a full-building office offering with the option to use the upper and lower spaces as separate leasing areas.
Built in 1996, the property overlooks a golf course and is located at 1715 W Kennewick Ave in Kennewick, Washington. The configuration combines a full-building office offering with the option to use the upper and lower spaces as separate leasing areas.
Key Highlights
- 3,287 SF office building with 1,708 SF upstairs and 1,579 SF downstairs
- Recently remodeled interior with finished office space
- Upper and lower floors can be leased separately
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
$50,456
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
7.76%
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%
$1,009,120
$1.0M
Cap Rate 7%
$720,800
$720.8K
Cap Rate 9%
$560,622
$560.6K
Market Conditions
NOI Build-Up for 3,287 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
$72.2K $21.96/SF
− Vacancy
−$4.9K −$1.49/SF
EGI
$67.3K $20.47/SF
− OpEx
−$16.8K −$5.12/SF
NOI
$50.5K $15.35/SF
Area
Benton County, WA
Vacancy
6.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,009,120
Cap Rate 7%
$720,800
Cap Rate 9%
$560,622
Alternative Uses
Best Use
Office B
$720.8K
$630.7K – $840.9K
NOI $50,456 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$911.7K
$797.7K – $1.06M
NOI $63,818 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
302
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?
Office building - Recently updated office property with separately leasable upper and lower levels overlooking a golf course.
Where is this office building located?
The property is located at 1715 W Kennewick Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,287 SF office building with 1,708 SF upstairs and 1,579 SF downstairs; Recently remodeled interior with finished office space; Upper and lower floors can be leased separately
