Four-Building Flex
For Sale
Contact for pricing
530 West Deschutes Avenue, Kennewick, WA 99336
Combination office and warehouse improvements include private offices, covered parking bays, and a secured enclosed work area.
Property Size6,750 SF
Price / SF$114.81
Days on Market14
Property Features for 530 West Deschutes Avenue
General Information
Standard status
Active
Size
6,750 SF
Total Parking Spaces
6
Property subtype
Retail, Office
Site & Location
Road Access
Yes
Fenced Yard
Yes
Building Details
Year Built
1977
Buildings
4
Listing Agency:
Kiemle Hagood
(509) 430-6547
Listed By:
Lance Bacon · License #WA
Source:
Crexi
Added: Jul 30
Changed: Aug 12
Last Checked: Aug 12 at 2:58PM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This flex property comprises four buildings totaling 6,750 SF on just under one acre at 530 West Deschutes Avenue in Kennewick. The improvements include a ±1,600 SF office building with seven private offices and a restroom equipped with a shower, plus a ±1,450 SF office building near the front of the property. Two warehouse/shop structures provide additional functional space: one measures ±2,100 SF and fronts Deschutes Ave, while the other measures ±1,600 SF and occupies the northeast corner.
The larger warehouse/shop building includes six covered parking bays within a fully enclosed, fenced area. Built in 1977, the property combines office and industrial-oriented improvements across a multi-building layout.
The larger warehouse/shop building includes six covered parking bays within a fully enclosed, fenced area. Built in 1977, the property combines office and industrial-oriented improvements across a multi-building layout.
Key Highlights
- Four‑building flex property with 6,750 SF of improvements
- Situated on just under one acre at 530 West Deschutes Avenue
- ±1,600 SF office building with seven private offices and a shower‑equipped restroom
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
$53,513
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
6.90%
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%
$1,070,260
$1.1M
Cap Rate 7%
$764,471
$764.5K
Cap Rate 9%
$594,589
$594.6K
Market Conditions
NOI Build-Up for 6,750 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
$89.1K $13.20/SF
− Vacancy
−$6.8K −$1.00/SF
EGI
$82.3K $12.20/SF
− OpEx
−$28.8K −$4.27/SF
NOI
$53.5K $7.93/SF
Area
Benton County, WA
Vacancy
7.60%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,070,260
Cap Rate 7%
$764,471
Cap Rate 9%
$594,589
Alternative Uses
Best Use
Office B
$1.48M
$1.30M – $1.73M
NOI $103,613 @ 7.0% cap · market cap 13.37%
Second Best
Flex RnD
$764.5K
$668.9K – $891.9K
NOI $53,513 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$1.87M
$1.64M – $2.18M
NOI $131,054 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
971
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Combination office and warehouse improvements include private offices, covered parking bays, and a secured enclosed work area.
Where is this flex space located?
The property is located at 530 West Deschutes Avenue Kennewick, WA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Four‑building flex property with 6,750 SF of improvements; Situated on just under one acre at 530 West Deschutes Avenue; ±1,600 SF office building with seven private offices and a shower‑equipped restroom
