Building Details

Year Built 1997

Buildings 1

Tenancy Multi

Owner Occupied No

Listing Agency: RE/MAX Northwest

Listed By: Brian Gentry · License #11109 Show Phone

Source: Skylineproperties

Added: Jun 22 Changed: Oct 23 Last Checked: Oct 23 at 11:28AM

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Investment Insights

Based on property information with market context.

This 5,078-square-foot office building is configured as three suites, with one occupying the ground floor and two positioned upstairs. The upper level is accessible by elevator and stairs, providing a flexible arrangement for multiple occupants within one property. The current tenant occupies the entire building and is scheduled to vacate in Q1 2025.

Located at 1721 W Kennewick Ave in Kennewick, Washington, the property has a view of the golf course. One of the upper suites previously served as an Edward Jones office, adding context to the building’s established office configuration.

Key Highlights

• 5,078‑square‑foot office building
• Three‑suite layout with one ground‑floor suite and two upstairs
• Upper‑level access by elevator and stairs

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$77,518

Cap Rate

9.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,550,360 $1.6M

Cap Rate 7%

$1,107,400 $1.1M

Cap Rate 9%

$861,311 $861.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,050 SF

Gross rent

$110.9K $21.96/SF

− Vacancy

−$7.5K −$1.49/SF

EGI

$103.4K $20.47/SF

− OpEx

−$25.8K −$5.12/SF

NOI

$77.5K $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 Rate 5%

$1,550,360

Cap Rate 7%

$1,107,400

Cap Rate 9%

$861,311

Alternative Uses

Best Use

Office B

$1.11M

$969.0K – $1.29M (±1% cap)

NOI $77,518 @ 7.0% cap · market cap 9.12%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.40M

$1.23M – $1.63M (±1% cap)

NOI $98,048 @ 7.0% cap · market cap 11.54%

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

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Juan P. Ochoa, ... Alternative Medicine Practice Aaron Johnson Physician Sarena Sloot Physician Gabriel Sims Physician North West Hearing ... Physician

Suggested Use

Top Pick Real Estate Agency Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Skin Care Clinic Parking Lot & Garage Carpet & Flooring 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

3

Office units

100%

Occupancy

Multi-tenant

Tenancy

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

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Elevator and stair access serve the two upper-level suites.

Where is this office building located?

The property is located at 1721 Kennewick Kennewick, WA.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: 5,078‑square‑foot office building; Three‑suite layout with one ground‑floor suite and two upstairs; Upper‑level access by elevator and stairs