Remodeled Equipped
For Sale
$1,800,000
Pending
3200 W Clearwater Ave, Kennewick, WA 99336
Commercial Sale, Kennewick, WA
Property Size5,018 SF
Lot Size0.94 Acres
Days on Market470
Property Features for 3200 W Clearwater Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMCL GENERAL
Parking
51
Interior features
Appliances Included, Vaulted Ceiling(s), Storage, Private Bathrooms, Washer/Dryer Hookup
Exterior features
Parking/50+ Spaces
Subdivision
Kennewick SE
Lot features
Loc in City Limits
Directions
From SR 395: West on Clearwater, location is on the right
Standard status
Pending
APN
134994010201002
Size
5,018 SF
Lot size
0.94 Acres
Taxes and HOA fees
Tax Year
6370
Tax Annual Amount
2024
Building Details
Year built
1977
Flooring type
Carpet, Tile
Additional Structures
Storage
Listing Agency:
Windermere Group One/Tri-Cities · Windermere Real Estate
(509) 946-1188
Listed By:
Dan Hansen · License #117293
(509) 438-7515
Added: Jun 23, 2025
Changed: Sep 27
Last Checked: Oct 5 at 4:06AM
MLS# 285226
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 restaurant property includes 5,018 square feet on a 0.94-acre parcel, with a clear-span dining area that can be arranged for different operating needs. The interior provides two private restrooms, a dedicated office, storage, vaulted ceilings, tile and carpet flooring, and a washer/dryer hookup. Major kitchen equipment, furniture, and fixtures convey with the sale. The building was constructed in 1977 and comprehensively remodeled in 2008.
Located at 3200 W Clearwater Ave in Kennewick, the property has three separate entry points and on-site parking. It sits near the intersection of W Clearwater Ave and State Route 395, with nearby gyms, offices, event centers, shopping malls, hotels, established neighborhoods, and updated commercial properties. Zoning is COMMCL GENERAL.
Located at 3200 W Clearwater Ave in Kennewick, the property has three separate entry points and on-site parking. It sits near the intersection of W Clearwater Ave and State Route 395, with nearby gyms, offices, event centers, shopping malls, hotels, established neighborhoods, and updated commercial properties. Zoning is COMMCL GENERAL.
Key Highlights
- 5,018‑square‑foot restaurant building on 0.94 acres
- Building comprehensively remodeled in 2008
- Clear‑span dining area with flexible interior arrangement
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
$77,308
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
4.29%
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%
$1,546,160
$1.5M
Cap Rate 7%
$1,104,400
$1.1M
Cap Rate 9%
$858,978
$859.0K
Market Conditions
NOI Build-Up for 5,018 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
$108.4K $21.60/SF
− Vacancy
−$5.3K −$1.06/SF
EGI
$103.1K $20.54/SF
− OpEx
−$25.8K −$5.14/SF
NOI
$77.3K $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 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%
$1,546,160
Cap Rate 7%
$1,104,400
Cap Rate 9%
$858,978
Alternative Uses
Best Use
Specialty Retail
$1.10M
$966.4K – $1.29M
NOI $77,308 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,427 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
343k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 22%
Superstores 5%
Home Improvements & Furnishings 4%
McDonald's
Dining
44,972 visits/mo
0.4 miles
Dollar Tree
Shops & Services
32,563 visits/mo
0.3 miles
Panda Express
Dining
25,177 visits/mo
0.3 miles
Taco Bell
Dining
22,901 visits/mo
0.3 miles
Dutch Bros. Coffee
Dining
19,810 visits/mo
0.4 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
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Frequently Asked Questions
What type of property is this?
Restaurant - Fully equipped restaurant with adaptable dining space, private restrooms, and a dedicated management office.
Where is this restaurant located?
The property is located at 3200 W Clearwater Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 5,018‑square‑foot restaurant building on 0.94 acres; Building comprehensively remodeled in 2008; Clear‑span dining area with flexible interior arrangement
