Light Industrial Flex
For Sale
Contact for pricing
723 W Deschutes Ave, Kennewick, WA 99336
Light industrial flex building with gated and non-gated yard areas for equipment and vehicle storage.
Property Size6,126 SF
Price / SF$183.64
Days on Market186
Property Features for 723 W Deschutes Ave
General Information
Standard status
Active
Size
6,126 SF
Property subtype
INDUSTRIAL
Zoning
Light Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
1970
Listing Agency:
SVN Cornerstone LLC
(509) 251-7716
Listed By:
Ariel Mizrahi · License #22008121
(509) 251-7716
Source:
Moodyscre
Added: Feb 6
Changed: Aug 8
Last Checked: Aug 8 at 10:54AM
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 Cornerstone LLC
Investment Insights
Based on property information with market context.
This light industrial flex building offers a flexible interior with outdoor storage capability through both gated and non-gated yard areas. The building contains approximately 6,126 SF and was constructed in 1970, providing an open interior layout suited to a range of warehouse, distribution, or contractor-yard style uses.
Convenient access to US-395 supports operations requiring efficient regional connectivity. The property is also located within a designated Opportunity Zone.
Zoned Light Industrial, the asset can fit investor needs focused on owner-user use or future redevelopment optionality, supported by the combination of indoor flex space and yard storage.
Convenient access to US-395 supports operations requiring efficient regional connectivity. The property is also located within a designated Opportunity Zone.
Zoned Light Industrial, the asset can fit investor needs focused on owner-user use or future redevelopment optionality, supported by the combination of indoor flex space and yard storage.
Key Highlights
- 6,126 SF light industrial flex building
- Built in 1970 with open interior layout
- Gated and non‑gated yard areas for equipment and vehicle storage
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
$48,566
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
4.32%
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%
$971,320
$971.3K
Cap Rate 7%
$693,800
$693.8K
Cap Rate 9%
$539,622
$539.6K
Market Conditions
NOI Build-Up for 6,126 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
$80.9K $13.20/SF
− Vacancy
−$6.1K −$1.00/SF
EGI
$74.7K $12.20/SF
− OpEx
−$26.2K −$4.27/SF
NOI
$48.6K $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%
$971,320
Cap Rate 7%
$693,800
Cap Rate 9%
$539,622
Alternative Uses
Best Use
Flex RnD
$693.8K
$607.1K – $809.4K
NOI $48,566 @ 7.0% cap · market cap 4.32%
Second Best
Warehouse
$547.2K
$478.8K – $638.5K
NOI $38,307 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$1.70M
$1.49M – $1.98M
NOI $118,939 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway 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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Light industrial flex building with gated and non-gated yard areas for equipment and vehicle storage.
Where is this flex space located?
The property is located at 723 W Deschutes Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: 6,126 SF light industrial flex building; Built in 1970 with open interior layout; Gated and non‑gated yard areas for equipment and vehicle storage
