Building Details

Buildings 1

Tenancy Single

Listing Agency: SVN Retter & Company Show Phone

Listed By: Ashley Moala · License ##138102 Show Phone

Source: Moodyscre

Added: Aug 20 Changed: Oct 1 Last Checked: Oct 20 at 11:50PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This 2,506-square-foot office building at 27 N Morain St includes four private offices, storage areas, a conference room, reception space, washer/dryer hookups, and a large open area with a kitchen. The sale also includes fully digital monument signage.

The property is leased to a single tenant under a 5-year term beginning November 2024, with 3% annual increases. The stated 6.67% cap rate provides an additional lease and income metric for evaluating the offering.

Key Highlights

• 2,506‑square‑foot office building at 27 N Morain St, Kennewick, WA 99336
• Single‑tenant lease with a 5‑year term beginning November 2024
• Lease includes 3% annual increases

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,467

Cap Rate

8.55%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$769,340 $769.3K

Cap Rate 7%

$549,529 $549.5K

Cap Rate 9%

$427,411 $427.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,506 SF

Gross rent

$55.0K $21.96/SF

− Vacancy

−$3.7K −$1.49/SF

EGI

$51.3K $20.47/SF

− OpEx

−$12.8K −$5.12/SF

NOI

$38.5K $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%

$769,340

Cap Rate 7%

$549,529

Cap Rate 9%

$427,411

Alternative Uses

Best Use

Office B

$549.5K

$480.8K – $641.1K (±1% cap)

NOI $38,467 @ 7.0% cap · market cap 8.55%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$695.1K

$608.2K – $810.9K (±1% cap)

NOI $48,655 @ 7.0% cap · market cap 10.81%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Estherbrook Inc. Saladmaster (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Carpet & Flooring Store (Bike/Boat/Book/etc) Store Acupuncture Electrical Service Butcher Parking Lot & Garage

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

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

967

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 - Leased office property with four offices, a conference room, reception area, and open kitchen space.

Where is this office building located?

The property is located at 27 N Morain St Kennewick, WA.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 2,506‑square‑foot office building at 27 N Morain St, Kennewick, WA 99336; Single‑tenant lease with a 5‑year term beginning November 2024; Lease includes 3% annual increases