NNN Retail Property with
For Sale
$4,150,000
2800 W Clearwater Ave, Kennewick, WA 99336
Freestanding pharmacy building with dedicated drive-through service and on-site parking.
Property Size14,820 SF
Lot Size3.30 Acres
Price / SF$280.03
Days on Market151
Property Features for 2800 W Clearwater Ave
General Information
Standard status
Active
Size
14,820 SF
Lot size
3.30 Acres
Property subtype
Retail
Financials
Asking Price
$4,610,000
Cap Rate
9%
Gross Income
$414,999
Additional Details
Drive-Thru
Yes
Building Details
Year Built
2006
Buildings
1
Tenancy
Single
Parking Ratio
4.18 per 1,000 SF
Listing Agency:
Bellevue
Listed By:
Ryan Olson · License #WA 19573
(425) 468-0704
Source:
Colliers
Added: May 18
Changed: Sep 30
Last Checked: Oct 14 at 7:43PM
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 Bellevue
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 14,820-square-foot freestanding retail building was constructed for Walgreens in 2006 and includes a pharmacy drive-through. The property sits on a 3.3-acre lot and is leased on an NNN structure, with the landlord retaining responsibility for structural repairs and maintenance. The parking ratio is 4.18 spaces per 1,000 square feet.
Located at 2800 W Clearwater Ave in Kennewick, the property is occupied by Walgreens. The tenant controls the space through 2081, subject to a first termination option in 2031 and additional options at five-year intervals. The lease also includes a percentage-rent provision based on gross sales, food, and prescriptions.
Located at 2800 W Clearwater Ave in Kennewick, the property is occupied by Walgreens. The tenant controls the space through 2081, subject to a first termination option in 2031 and additional options at five-year intervals. The lease also includes a percentage-rent provision based on gross sales, food, and prescriptions.
Key Highlights
- 14,820 SF freestanding building on a 3.3‑acre lot
- Built for Walgreens in 2006
- Pharmacy drive‑through included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$228,320
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,566,400
$4.6M
Cap Rate 7%
$3,261,714
$3.3M
Cap Rate 9%
$2,536,889
$2.5M
Market Conditions
NOI Build-Up for 14,820 SF
Gross rent
$320.1K $21.60/SF
− Vacancy
−$15.7K −$1.06/SF
EGI
$304.4K $20.54/SF
− OpEx
−$76.1K −$5.14/SF
NOI
$228.3K $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 Rate 5%
$4,566,400
Cap Rate 7%
$3,261,714
Cap Rate 9%
$2,536,889
Alternative Uses
Best Use
Specialty Retail
$3.26M
$2.85M – $3.81M
NOI $228,320 @ 7.0% cap · market cap 5.50%
Second Best
Retail
$2.49M
$2.18M – $2.91M
NOI $174,408 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$4.11M
$3.60M – $4.80M
NOI $287,737 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,014
Businesses Nearby
302k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 22%
Superstores 5%
Home Improvements & Furnishings 4%
McDonald's
Dining
44,972 visits/mo
0.2 miles
Dollar Tree
Shops & Services
32,563 visits/mo
0.3 miles
Panda Express
Dining
25,177 visits/mo
0.1 miles
Taco Bell
Dining
22,901 visits/mo
0.2 miles
Starbucks
Dining
17,845 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - Freestanding pharmacy building with dedicated drive-through service and on-site parking.
Where is this nnn property located?
The property is located at 2800 W Clearwater Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: 14,820 SF freestanding building on a 3.3‑acre lot; Built for Walgreens in 2006; Pharmacy drive‑through included
