Mixed-Use Building with
New
For Sale
$6,250,000
307 W Kennewick Ave, Kennewick, WA 99336
Two-story layout combines residential units with commercial tenancy spaces in downtown Kennewick.
Property Size27,691 SF
Lot Size0.72 Acres
Price / SF$225.71
Days on Market2
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Property Features for 307 W Kennewick Ave
General Information
Standard status
Active
Size
27,691 SF
Total Parking Spaces
35
Lot size
0.72 Acres
Property subtype
Multi-Family
Zoning
CBD
Units
Unit Mix
19 x 1BR, 5 x studio
Multifamily Units
24
Additional Details
Asking Price
$6,250,000
Building Details
Year Built
1940
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Windermere Group One/Tri-Cities
Listed By:
Pamela Caldwell
(509) 949-1771
Source:
Searchresultsrealtygroup
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:29AM
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 Windermere Group One/Tri-Cities
Investment Insights
Based on property information with market context.
The two-story mixed-use property contains 24 apartments—19 one-bedroom units and five studios—along with three commercial tenancy spaces. The building measures 27,691 SF on approximately 0.72 acres and was built in 1940. The seller reports a roof replacement in 2019 and updates to eight apartments during the past five years.
Located in downtown Kennewick, the property has CBD zoning and approximately 35 private parking spaces. Area, legal unit count, parking, zoning, permitted uses, condition, leases, and financials are subject to buyer verification.
Located in downtown Kennewick, the property has CBD zoning and approximately 35 private parking spaces. Area, legal unit count, parking, zoning, permitted uses, condition, leases, and financials are subject to buyer verification.
Key Highlights
- 24 apartments: 19 one‑bedroom units and five studios
- Three commercial tenancy spaces
- 27,691 SF building on approximately 0.72 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$325,879
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,517,580
$6.5M
Cap Rate 7%
$4,655,414
$4.7M
Cap Rate 9%
$3,620,878
$3.6M
Market Conditions
NOI Build-Up for 27,691 SF
Gross rent
$498.4K $18.00/SF
− Vacancy
−$32.9K −$1.19/SF
EGI
$465.5K $16.81/SF
− OpEx
−$139.7K −$5.04/SF
NOI
$325.9K $11.77/SF
Area
Benton County, WA
Vacancy
6.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,517,580
Cap Rate 7%
$4,655,414
Cap Rate 9%
$3,620,878
Alternative Uses
Best Use
Retail
$4.66M
$4.07M – $5.43M
NOI $325,879 @ 7.0% cap · market cap 5.21%
Second Best
Mixed Use
$3.19M
$2.79M – $3.73M
NOI $223,549 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$7.68M
$6.72M – $8.96M
NOI $537,633 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
24
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
878
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story layout combines residential units with commercial tenancy spaces in downtown Kennewick.
Where is this mixed-use property located?
The property is located at 307 W Kennewick Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 24 apartments: 19 one‑bedroom units and five studios; Three commercial tenancy spaces; 27,691 SF building on approximately 0.72 acres
