Kennewick Retail Center For
For Sale
Contact for pricing
7201 W Clearwater Ave, Kennewick, WA 99336
15,870 SF retail center anchored by O’Reilly Auto Parts.
Property Size15,870 SF
Lot Size1.16 Acres
Price / SF$203.21
Days on Market183
Property Features for 7201 W Clearwater Ave
General Information
Standard status
Active
Size
15,870 SF
Class
C
Total Parking Spaces
62
Lot size
1.16 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$200,153
Building Details
Year Built
1995
Buildings
2
Stories
1
Units
6
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Portland
(503) 200-2031
Listed By:
Eric Garske · License #OR 201235586
Source:
Crexi
Added: Feb 10
Changed: Aug 8
Last Checked: Aug 8 at 6:26AM
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 - Portland
Investment Insights
Based on property information with market context.
The property at 7201 W Clearwater Ave in Kennewick, Washington, is a 15,870-square-foot retail center. Constructed in 1995, the center comprises two buildings on a 1.16-acre lot and includes six suites. It is anchored by O’Reilly Auto Parts. Situated along W Clearwater Avenue, the center benefits from visibility and traffic counts of approximately 17,431 vehicles per day. The location is near Mercedes-Benz of Tri-Cities and in proximity to Columbia Center, which houses brands such as Macy’s, Dick’s Sporting Goods, and Lululemon, as well as Costco, Lowe’s, and the Toyota Center. These regional draws contribute to customer traffic and stability for tenants.
Key Highlights
- Anchored by O’Reilly Auto Parts, a leading national retailer.
- Excellent visibility and high traffic counts of 17,431 vehicles per day on W Clearwater Avenue.
- Located near Columbia Center, Costco, Lowe’s, and the Toyota Center.
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
$186,765
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
5.79%
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%
$3,735,300
$3.7M
Cap Rate 7%
$2,668,071
$2.7M
Cap Rate 9%
$2,075,167
$2.1M
Market Conditions
NOI Build-Up for 15,870 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
$285.7K $18.00/SF
− Vacancy
−$18.9K −$1.19/SF
EGI
$266.8K $16.81/SF
− OpEx
−$80.0K −$5.04/SF
NOI
$186.8K $11.77/SF
Area
Benton County, WA
Vacancy
6.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$3,735,300
Cap Rate 7%
$2,668,071
Cap Rate 9%
$2,075,167
Alternative Uses
Best Use
Retail
$2.67M
$2.33M – $3.11M
NOI $186,765 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.40M
$3.85M – $5.14M
NOI $308,123 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,110
Businesses Nearby
321k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Shops & Services 24%
Superstores 5%
Home Improvements & Furnishings 4%
McDonald's
Dining
44,972 visits/mo
0.2 miles
Dollar Tree
Shops & Services
32,563 visits/mo
0.2 miles
Panda Express
Dining
25,177 visits/mo
0.2 miles
Taco Bell
Dining
22,901 visits/mo
0.2 miles
Starbucks
Dining
17,845 visits/mo
0.1 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Columbia Center Blvd At Canalst — 311 S Columbia Center Blvd, Kennewick, WA 99336
- Columbia Summit Center — 731 N Columbia Center Blvd, Kennewick, WA 99336
- Hansen Park Plaza — 910 S Columbia Center Blvd, Kennewick, WA 99336
- Metropolitan Plaza — Metropolitan Plaza, 321 N Columbia Center Blvd, Kennewick, WA 99336
- Columbia Plaza — 6855 W Clearwater Ave, Kennewick, WA 99336
Frequently Asked Questions
What type of property is this?
Shopping center - 15,870 SF retail center anchored by O’Reilly Auto Parts.
Where is this shopping center located?
The property is located at 7201 W Clearwater Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $3,225,000.
What are key features of this property?
This property features: Anchored by O’Reilly Auto Parts, a leading national retailer.; Excellent visibility and high traffic counts of 17,431 vehicles per day on W Clearwater Avenue.; Located near Columbia Center, Costco, Lowe’s, and the Toyota Center.
