Fully Leased Kennewick Retail
731 N Columbia Center Blvd, Kennewick, WA 99336
100% leased shopping center with long-term tenants.
Type:Retail
Property size:
88,724 SFPrice / SF:
$177/SF- Added:
- Jan 28, 2026
- Days on Market:
- 115
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 731 N Columbia Center Blvd
General Information
- Standard status
- Active
- Size
- 88,724 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1990
Listing agent AARON MATHIEU License #108571
Listing office Lee & Associates - Bellevue
Listing date Jan 28, 2026
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 Lee & Associates - Bellevue
HighLights
- 100% leased neighborhood shopping center.
- Anchored by Planet Fitness.
- High percentage (approximately 76%) of long‑term tenants (ten years or more).
- Located in the primary retail corridor of the Tri Cities.
- Recent capital improvements including new roof, parking lot seal coating, exterior paint and new LED exterior lighting.
- Diversified tenant roster including national tenants such as Once Upon a Child, Honeybaked Ham, Mattress Depot and Dutch Bros Coffee.
Overview
Columbia Summit Center presents an opportunity to acquire a fully leased neighborhood shopping center situated in the primary retail corridor of the Tri Cities. Anchored by Planet Fitness, the center features a mix of national and local tenants, with approximately 76% having occupied space in the property for ten years or more. The property has undergone capital improvements, including a new roof, parking lot seal coating, exterior paint, and new LED exterior lighting. National tenants include Planet Fitness, Once Upon a Child, Honeybaked Ham, Mattress Depot, and Dutch Bros Coffee. The location benefits from a traffic count of 28,676 on Columbia Center Blvd. The property encompasses a total area of 88,724 square feet.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$11.60M
NOI $1,044,140 @ 9.00% cap · cautious / downside scenario
Moderate
$14.92M
NOI $1,044,140 @ 7.00% cap · market / base-case scenario
Aggressive
$20.88M
NOI $1,044,140 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.60M | $18.00 |
| − Vacancy | −$105.4k | −$1.19 |
| EGI | $1.49M | $16.81 |
| − OpEx | −$447.5k | −$5.04 |
| NOI | $1.04M | $11.77 |
88,724 SF · lease $18.00/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$14.92M
$13.05M – $17.40M
NOI $1,044,140 @ 7.0% cap · market cap 6.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$24.61M
$21.53M – $28.71M
NOI $1,722,614 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Sushi Ya
Restaurant
Mattress Depot USA
Furniture & Home Goods
Summit Up To Hair
Hair Salon
C & K Nails
Nail Salon
Wholesale Dumpster Rental ...
Waste Management Facility
Similar Places 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
- Columbia Square — 1232 N 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
Location Insight
- Map
- Local Demand
- City
- Kennewick
- County
- Benton
- State
- Washington
- Longitude
- -119.226148
- Latitude
- 46.216741
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - 100% leased shopping center with long-term tenants.
Where is this shopping center located?
The property is located at 731 N Columbia Center Blvd Kennewick, WA.
What is the asking price?
The asking price for this property is $15,750,000.
What are key features of this property?
This property features: 100% leased neighborhood shopping center.; Anchored by Planet Fitness.; High percentage (approximately 76%) of long‑term tenants (ten years or more).
