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    Kennewick Mixed-Use Development Office Space Title is generated by Realmo AI

    6802 W Rio Grande Ave, Kennewick, WA 99336

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    Prime Kennewick location with customizable office space for rent.

    Type:Office
    Added:
    Sep 6, 2023
    Days on Market:
    994
    Last Refresh:
    May 12 at 11:39 pm

    Property Features for 6802 W Rio Grande Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2011

    Spaces For Lease

    at 6802 W Rio Grande Ave Contact us

    Suite B $18/Mo

    Size
    1,070 SF
    Type
    Office
    Contact us

    Suite C $24/Mo

    Size
    3,300 SF
    Type
    Office
    MLS 271040 - Leasing opportunity in a prime business location in the heart of Kennewick!...
    show more
    Contact us

    We can help!

    Listing Contact
    Todd Sternfeld
    Todd Sternfeld

    Listing agent Todd Sternfeld License #WA 7AA1183

    Listing office NAI Tri-Cities

    Listing date Sep 6, 2023

    Source Crexi

    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 NAI Tri-Cities

    HighLights

    • Prime business location in the heart of Kennewick within the Vista Fields mixed‑use development.
    • Vanilla shell condition allows customization to suit specific business needs.
    • Wired for fiber optics with an IT room ready.
    • One fully functional bathroom with plumbing ready for multiple locations.
    • Tenant Improvement Allowance (T.I.A.) of $50,000 for leases 6 years or greater.
    • High traffic volume and ample parking available.

    Overview

    Located in the heart of Kennewick, this leasing opportunity is situated within the Vista Fields mixed-use development, which includes professional offices, retail spaces, and residential units. The available space will be provided in vanilla shell condition, allowing for customization to meet specific needs. The property is wired for fiber optics and features a ready IT room. The space includes one fully functional bathroom, with plumbing ready for multiple locations. A tenant improvement allowance of $50,000 is available for leases of six years or greater. The rental rate is $24 per square foot, plus NNN. Street signage and ample parking are available. The location benefits from approximately 25,000 vehicles per day. Additionally, Suite B offers an open-concept office layout with a conference room, a full bathroom, and a shower. This is a second-floor unit accessible by stairs and is not ADA accessible.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kendra Graham Physician Carrie Lamb Physician Pediatrics For You Pediatrician Pediatrics For You: Shakti ... Pediatrician

    Suggested Use

    Restaurant Real Estate Agency Building Supply Law Firm Big Box & Wholesale Store Spa & Massage Center Dental Office Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kennewick
    County
    Benton
    State
    Washington
    Longitude
    -119.211419
    Latitude
    46.22182

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    FAQs

    What type of property is this?
    Office units - Prime Kennewick location with customizable office space for rent.
    Where is this office units located?
    The property is located at 6802 W Rio Grande Ave Kennewick, WA.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Prime business location in the heart of Kennewick within the Vista Fields mixed‑use development.; Vanilla shell condition allows customization to suit specific business needs.; Wired for fiber optics with an IT room ready.
    (509) 302-9976 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Todd Sternfeld
    Todd Sternfeld
    Real Estate License ID: WA 7AA1183
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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