Single-Tenant Mexican
For Sale
$1,300,000
255 Williams Blvd, Richland, WA 99352
Single-tenant full-service restaurant offering 67 seats plus two exterior patios on a 0.83-acre site.
Property Size4,000 SF
Lot Size0.83 Acres
Price / SF$325
Days on Market109
Property Features for 255 Williams Blvd
General Information
Standard status
Active
Size
4,000 SF
Lot size
0.83 Acres
Lease Type
Full Service
Taxes and HOA fees
Annual Taxes
$2,026
Building Details
Tenancy
Single
Listing Agency:
WSIC Commercial
Listed By:
Greg Markel · License #12600
(509) 531-4711
Source:
Exprealty
Added: May 20
Changed: Aug 21
Last Checked: Sep 4 at 2:18PM
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 WSIC Commercial
Investment Insights
Based on property information with market context.
The subject property is a new, single-tenant full-service Mexican restaurant lease. The restaurant totals approximately 4,000 SF of NRA and is designed with seating for 67 guests. The property also includes two exterior patios.
As presented in the listing, the site consists of approximately 0.83 acres at 255 Williams Blvd in Richland, Washington.
The offering is structured as a restaurant lease for one operator, with the built-in dining and patio areas forming the primary guest experience within the existing restaurant layout.
As presented in the listing, the site consists of approximately 0.83 acres at 255 Williams Blvd in Richland, Washington.
The offering is structured as a restaurant lease for one operator, with the built-in dining and patio areas forming the primary guest experience within the existing restaurant layout.
Key Highlights
- Single‑tenant full‑service Mexican restaurant lease property with approx. 4,000 SF of NRA
- 67‑seat dining capacity plus two exterior patios
- Located on a 0.83‑acre site
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
$61,625
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
4.74%
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%
$1,232,500
$1.2M
Cap Rate 7%
$880,357
$880.4K
Cap Rate 9%
$684,722
$684.7K
Market Conditions
NOI Build-Up for 4,000 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
$86.4K $21.60/SF
− Vacancy
−$4.2K −$1.06/SF
EGI
$82.2K $20.54/SF
− OpEx
−$20.5K −$5.14/SF
NOI
$61.6K $15.41/SF
Area
Benton County, WA
Vacancy
4.90%
Lease Rate
$21.60 /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%
$1,232,500
Cap Rate 7%
$880,357
Cap Rate 9%
$684,722
Alternative Uses
Best Use
Specialty Retail
$880.4K
$770.3K – $1.03M
NOI $61,625 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$970.8K – $1.29M
NOI $77,662 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,657
Businesses Nearby
185k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 24%
Home Improvements & Furnishings 9%
Hotels & Casinos 1%
McDonald's
Dining
32,908 visits/mo
0.1 miles
Wendy's
Dining
27,463 visits/mo
0.5 miles
Dollar Tree
Shops & Services
21,224 visits/mo
0.2 miles
Circle K
Shops & Services
19,214 visits/mo
0.3 miles
Griggs Ace Hardware & Sporting Goods - Richland
Home Improvements & Furnishings
16,755 visits/mo
0.3 miles
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 Retail 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?
Conventional restaurant - Single-tenant full-service restaurant offering 67 seats plus two exterior patios on a 0.83-acre site.
Where is this conventional restaurant located?
The property is located at 255 Williams Blvd Richland, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Single‑tenant full‑service Mexican restaurant lease property with approx. 4,000 SF of NRA; 67‑seat dining capacity plus two exterior patios; Located on a 0.83‑acre site
