Three-Suite Office
For Sale
$850,000
1721 W Kennewick Ave, Kennewick, WA 99336
Elevator and stair access serve the two upper-level suites.
Property Size5,078 SF
Price / SF$167.39
Days on Market40
Property Features for 1721 W Kennewick Ave
General Information
Standard status
Active
Size
5,078 SF
Net Rentable
5,050 SF
Elevators
Yes
Occupancy
100%
Additional Details
Office Units
3
Taxes and HOA fees
Annual Taxes
$5,691
Amenities
golf course view
Building Details
Buildings
1
Tenancy
Multi
Owner Occupied
No
Listing Agency:
SVN Retter & Company
(509) 737-9429
Listed By:
Scott Sautell · License ##109003
(509) 430-8986
Source:
Exprealty
Added: Jul 28
Changed: Sep 4
Last Checked: Sep 4 at 11:02AM
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 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.
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 = 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
$77,948
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
9.17%
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%
$1,558,960
$1.6M
Cap Rate 7%
$1,113,543
$1.1M
Cap Rate 9%
$866,089
$866.1K
Market Conditions
NOI Build-Up for 5,078 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
$111.5K $21.96/SF
− Vacancy
−$7.6K −$1.49/SF
EGI
$103.9K $20.47/SF
− OpEx
−$26.0K −$5.12/SF
NOI
$77.9K $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%
$1,558,960
Cap Rate 7%
$1,113,543
Cap Rate 9%
$866,089
Alternative Uses
Best Use
Office B
$1.11M
$974.4K – $1.30M
NOI $77,948 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,592 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 W Kennewick Ave 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
