Single-Tenant Full-Service
For Sale
$1,300,000
255 Williams Boulevard, Richland, WA 99352
Commercial Sale, Richland, WA
Property Size4,000 SF
Lot Size0.83 Acres
Price / SF$325
Days on Market98
Property Features for 255 Williams Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMCL GENERAL
Parking
21
Directions
From the corner of George Washington Way & Williams, go west. Behind McDonalds, South of the Uptown Shopping Center.
Standard status
Active
APN
***
Lot size
0.83 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2026
Building Details
Year built
1990
Listing Agency:
WSIC Commercial
50973522
Listed By:
Greg Markel · License #12600
(509) 735-2255
Added: May 20
Changed: Aug 25
Last Checked: Aug 25 at 7:06PM
MLS# 293137
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 single-tenant, full-service restaurant property contains approximately 4,000 SF of NRA on a 0.83-acre site. The layout supports 67 seats and includes two exterior patios, providing both indoor dining capacity and outdoor service areas. The building dates to 1990.
Located at 255 Williams Boulevard in Richland, Washington, the property is identified for COMMCL GENERAL zoning. Its restaurant configuration, site area, seating capacity, and patio improvements are suited to continued full-service restaurant use.
Located at 255 Williams Boulevard in Richland, Washington, the property is identified for COMMCL GENERAL zoning. Its restaurant configuration, site area, seating capacity, and patio improvements are suited to continued full-service restaurant use.
Key Highlights
- Approximately 4,000 SF of NRA
- Single‑tenant full‑service restaurant property
- 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 - Restaurant property includes two exterior patios and seating for 67 guests.
Where is this conventional restaurant located?
The property is located at 255 Williams Boulevard 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: Approximately 4,000 SF of NRA; Single‑tenant full‑service restaurant property; 0.83‑acre site
