Class A NNN Medical
4309 West 27th Place Kennewick, WA 99336
4309 West 27th Place, Kennewick, WA, 99336
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For Sale
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Stabilized, fully leased medical center with expense-reimbursed NNN leases and recent renovations, including a 2024 roof replacement.
Property Size20,284 SF
Price / SF$251.43
Days on Market51
Property Features for 4309 West 27th Place
General Information
- Standard status
- Active
- Size
- 20,284 SF
- Property subtype
- Office
Building Details
- Year Built
- 2006
Listing agency
Marcus & Millichap - Seattle
Listed by
Clayton J. Brown · License #WA 123258
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 3:59PM Checked: Jul 21 at 4:29AM
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 Marcus & Millichap - Seattle
Investment Insights
Based on property information with market context.
Cynergy Centre is a stabilized, 100% occupied Class A NNN medical building offering a tenant mix that includes healthcare providers along with financial services, personal care, and retail. Medical uses represent 61% of the GLA, with services described as physical medicine and rehabilitation, women’s health, dermatology, and hospice care. Specialized medical buildouts are in place throughout. All tenants operate under NNN lease structures with full expense reimbursement, including management fees, and the property is reported to feature nine of eleven tenants with 2.5%–3% annual rent escalations through initial terms and options.
The property has undergone extensive renovations since 2020. Reported improvements include a new roof installed in February 2024 with a 20-year transferable warranty, full suite upgrades, HVAC replacements and repairs, exterior paint, and parking lot improvements. Cynergy Centre is located at the roundabout of W 27th Ave and S Union St and is described as just off Hwy 395, providing visibility and access from major arterials serving the greater Tri-Cities.
For buyers seeking a stabilized healthcare asset, the current occupancy and NNN structure may be of particular interest. The seller is also offering seller financing at 3.75% interest, and the offering materials state this produces a 9.05% cash-on-cash return in Year 1 of new ownership. The leasing profile is presented as designed to support long-term tenant retention through medically tailored improvements and scheduled rent escalations.
The property has undergone extensive renovations since 2020. Reported improvements include a new roof installed in February 2024 with a 20-year transferable warranty, full suite upgrades, HVAC replacements and repairs, exterior paint, and parking lot improvements. Cynergy Centre is located at the roundabout of W 27th Ave and S Union St and is described as just off Hwy 395, providing visibility and access from major arterials serving the greater Tri-Cities.
For buyers seeking a stabilized healthcare asset, the current occupancy and NNN structure may be of particular interest. The seller is also offering seller financing at 3.75% interest, and the offering materials state this produces a 9.05% cash-on-cash return in Year 1 of new ownership. The leasing profile is presented as designed to support long-term tenant retention through medically tailored improvements and scheduled rent escalations.
Key Highlights
- Class A medical building built in 2006, stabilized and 100% occupied on NNN leases
- Fully leased to a diverse tenant mix; medical uses are 61% of GLA across services including rehab, women’s health, dermatology, and hospice
- NNN leases include full expense reimbursement with management fees
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $445.4k | $21.96 |
| − Vacancy | −$30.3k | −$1.49 |
| EGI | $415.1k | $20.47 |
| − OpEx | −$103.8k | −$5.12 |
| NOI | $311.4k | $15.35 |
20,284 SF · lease $21.96/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.45M
$3.89M – $5.19M
NOI $311,360 @ 7.0% cap · market cap 6.11%
Second Best
Healthcare Medical
$4.30M
$3.76M – $5.02M
NOI $301,057 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$5.63M
$4.92M – $6.56M
NOI $393,822 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Tri-Cities Curl Specialist, ...
Hair Salon
Randall Howerton
Pediatrician
Angela Reynolds
Midwife
John Bernhardt Groner
Physician
Nikole Jayms Esthetics
Medical Clinic
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FAQs
What type of property is this?
Medical Office Space - Stabilized, fully leased medical center with expense-reimbursed NNN leases and recent renovations, including a 2024 roof replacement.
Where is this medical office space located?
The property is located at 4309 West 27th Place Kennewick, WA.
What is the asking price?
The asking price for this property is $5,100,000.
What are key features of this property?
This property features: Class A medical building built in 2006, stabilized and 100% occupied on NNN leases; Fully leased to a diverse tenant mix; medical uses are 61% of GLA across services including rehab, women’s health, dermatology, and hospice; NNN leases include full expense reimbursement with management fees
