Remodeled Two-Story Office
For Sale
$650,000
1715 W Kennewick Ave, Kennewick, WA
Commercial Sale, Kennewick, WA
Property Size3,287 SF
Lot Size0.22 Acres
Price / SF$197.75
Days on Market461
Property Features for 1715 W Kennewick Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMCL GENERAL
Parking
11
Directions
Kennewick ave
Standard status
Active
APN
***
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3952
Building Details
Year built
1996
Listing Agency:
SVN Retter & Company
(509) 737-9429
Listed By:
Scott Sautell · License ##109003
(509) 430-8986
Added: May 29, 2025
Changed: Aug 26
Last Checked: Sep 1 at 3:06AM
MLS# 284606
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,287-square-foot office building includes 1,708 square feet on the upper level and 1,579 square feet downstairs. The space was recently remodeled and is configured so each floor can be leased independently. The property was built in 1996 and carries COMMCL GENERAL zoning.
Set on a 0.22-acre lot at 1715 W Kennewick Ave in Kennewick, Washington, the building overlooks a golf course. The property is offered for sale or lease, providing flexibility for an owner-user, investor, or separate occupants by floor.
Set on a 0.22-acre lot at 1715 W Kennewick Ave in Kennewick, Washington, the building overlooks a golf course. The property is offered for sale or lease, providing flexibility for an owner-user, investor, or separate occupants by floor.
Key Highlights
- 3,287 square feet of office space across two levels
- Upper floor measures 1,708 square feet; lower floor measures 1,579 square feet
- Each floor 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
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Updated commercial office space offers flexible floor-by-floor leasing and views over 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 square feet of office space across two levels; Upper floor measures 1,708 square feet; lower floor measures 1,579 square feet; Each floor can be leased separately
