Remodeled Flex
For Sale
Contact for pricing
3180 George Washington Way, Richland, WA 99352
The property includes space for lease alongside administrative offices occupied by the Washington State Department of Corrections.
Property Size10,000 SF
Price / SF$0.00
Days on Market783
Property Features for 3180 George Washington Way
General Information
Standard status
Active
Size
10,000 SF
Taxes and HOA fees
Annual Taxes
$9,850
Listing Agency:
WSIC Commercial
Listed By:
Greg Markel · License #12600
(509) 735-2255
Source:
Exprealty
Added: Aug 26, 2024
Changed: Oct 10
Last Checked: Oct 16 at 10:21AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This remodeled flex property at 3180 George Washington Way offers 10,000 square feet of available space. The building’s other half is occupied by the Washington State Department of Corrections for administrative offices. The landlord will participate in tenant improvements.
The property is in North Richland, near Hanford-related companies, PNNL, HMIS, and restaurants. Washington State University’s branch campus is south of the property.
The property is in North Richland, near Hanford-related companies, PNNL, HMIS, and restaurants. Washington State University’s branch campus is south of the property.
Key Highlights
- 10,000 square feet of available flex space
- Remodeled building
- The other half is leased to the Washington State Department of Corrections for administrative offices
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,716
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,174,320
$1.2M
Cap Rate 7%
$838,800
$838.8K
Cap Rate 9%
$652,400
$652.4K
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$90.0K $9.00/SF
− Vacancy
−$6.1K −$0.61/SF
EGI
$83.9K $8.39/SF
− OpEx
−$25.2K −$2.52/SF
NOI
$58.7K $5.87/SF
Area
Benton County, WA
Vacancy
6.80%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,174,320
Cap Rate 7%
$838,800
Cap Rate 9%
$652,400
Alternative Uses
Best Use
Flex RnD
$1.13M
$991.0K – $1.32M
NOI $79,279 @ 7.0% cap · market cap 566,278.57%
Second Best
Industrial
$838.8K
$734.0K – $978.6K
NOI $58,716 @ 7.0% cap · market cap 419,400.00%
Theoretical Best
Office A
$2.77M
$2.43M – $3.24M
NOI $194,154 @ 7.0% cap · market cap 1,386,814.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - The property includes space for lease alongside administrative offices occupied by the Washington State Department of Corrections.
Where is this flex space located?
The property is located at 3180 George Washington Way Richland, WA.
What are key features of this property?
This property features: 10,000 square feet of available flex space; Remodeled building; The other half is leased to the Washington State Department of Corrections for administrative offices
