Flex Property With Secured
For Sale
$1,550,000
6095 West Van Giesen Street, West Richland, WA 99353
Office, warehouse, and covered storage improvements support administrative and operational functions on one site.
Property Size10,618 SF
Days on Market20
Property Features for 6095 West Van Giesen Street
General Information
Standard status
Active
Size
10,618 SF
Property subtype
Industrial
Building Details
Building Size
10,618 SF
Year Built
2000
Listing Agency:
SVN Retter & Company
(509) 430-2378
Listed By:
Rob Ellsworth, CCIM · License #WA #17790
Source:
Svn
Added: Aug 8
Changed: Aug 26
Last Checked: Aug 26 at 6:33AM
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 SVN Retter & Company
Investment Insights
Based on property information with market context.
Located at 6095 W Van Giesen St in West Richland, WA, this flex property combines dedicated office space with multiple warehouse buildings and a secured yard area. The warehouse improvements include overhead doors and plumbing, supporting storage, manufacturing, service, and distribution functions.
The office building includes three private offices, a spacious reception area, and an oversized conference room for administrative work and client meetings. A 26' x 30' covered storage area provides additional space for equipment or materials, complementing the enclosed warehouse facilities and outdoor yard.
The office building includes three private offices, a spacious reception area, and an oversized conference room for administrative work and client meetings. A 26' x 30' covered storage area provides additional space for equipment or materials, complementing the enclosed warehouse facilities and outdoor yard.
Key Highlights
- Multiple warehouse buildings with overhead doors and plumbing
- Secured yard area included with the property
- Office building has 3 private offices, reception area, and oversized conference room
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
$84,179
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
5.43%
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%
$1,683,580
$1.7M
Cap Rate 7%
$1,202,557
$1.2M
Cap Rate 9%
$935,322
$935.3K
Market Conditions
NOI Build-Up for 10,618 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
$140.2K $13.20/SF
− Vacancy
−$10.7K −$1.00/SF
EGI
$129.5K $12.20/SF
− OpEx
−$45.3K −$4.27/SF
NOI
$84.2K $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%
$1,683,580
Cap Rate 7%
$1,202,557
Cap Rate 9%
$935,322
Alternative Uses
Best Use
Office B
$2.33M
$2.04M – $2.72M
NOI $162,987 @ 7.0% cap · market cap 10.52%
Second Best
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $84,179 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,153 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99353, WA
17,934
Population
6,592
Households
2.7
Avg Household Size
37
Median Age
40%
College-Educated
93%
High-School Grad
25.8 sq mi
ZIP Area
695
Density / Sq Mi
$120,396
Median Household Income
$59,812
Median Earnings
$1,534
Median Rent
$407,600
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 - Office, warehouse, and covered storage improvements support administrative and operational functions on one site.
Where is this flex space located?
The property is located at 6095 West Van Giesen Street West Richland, WA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Multiple warehouse buildings with overhead doors and plumbing; Secured yard area included with the property; Office building has 3 private offices, reception area, and oversized conference room
