Turnkey Retail
For Sale
Contact for pricing
7509 West Deschutes Avenue, Kennewick, WA 99336
A fully occupied retail building offering immediate functionality in a commercial corridor near Columbia Center Mall.
Property Size9,315 SF
Price / SF$139.02
Days on Market366
Property Features for 7509 West Deschutes Avenue
General Information
Standard status
Active
Size
9,315 SF
Property subtype
RETAIL
Zoning
CC
Occupancy
100%
Additional Details
Business Included
No
Building Details
Year Built
1990
Tenancy
Single
Listing Agency:
NAI Tri-Cities Commercial
(509) 521-5396
Listed By:
Bryce Logan · License #B22021250
Source:
Moodyscre
Added: Aug 12, 2025
Changed: Jul 28
Last Checked: Aug 11 at 11:45AM
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 Commercial
Investment Insights
Based on property information with market context.
This 9,315-square-foot retail building was built in 1990 and is zoned CC. The property is fully occupied and presented as a turnkey, ready-to-operate space with existing operational functionality.
Located on West Deschutes Avenue in Kennewick, WA, the building sits in a vibrant commercial corridor with visibility and convenient access. It is described as being just minutes from Columbia Center Mall.
The current tenant is Hole in the Wall Shooting Range, a well-established local business. The building can be maintained in its current form or repurposed for future uses, depending on tenant and buyer plans.
Located on West Deschutes Avenue in Kennewick, WA, the building sits in a vibrant commercial corridor with visibility and convenient access. It is described as being just minutes from Columbia Center Mall.
The current tenant is Hole in the Wall Shooting Range, a well-established local business. The building can be maintained in its current form or repurposed for future uses, depending on tenant and buyer plans.
Key Highlights
- 9,315 SF retail building in Kennewick, WA
- Built in 1990 and zoned CC
- Fully occupied with an in‑place tenant (Hole in the Wall Shooting Range)
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
$109,623
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
8.47%
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%
$2,192,460
$2.2M
Cap Rate 7%
$1,566,043
$1.6M
Cap Rate 9%
$1,218,033
$1.2M
Market Conditions
NOI Build-Up for 9,315 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
$167.7K $18.00/SF
− Vacancy
−$11.1K −$1.19/SF
EGI
$156.6K $16.81/SF
− OpEx
−$47.0K −$5.04/SF
NOI
$109.6K $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%
$2,192,460
Cap Rate 7%
$1,566,043
Cap Rate 9%
$1,218,033
Alternative Uses
Best Use
Retail
$1.57M
$1.37M – $1.83M
NOI $109,623 @ 7.0% cap · market cap 8.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,855 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
206k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Shops & Services 21%
Apparel 9%
Groceries 5%
Texas Roadhouse
Dining
36,799 visits/mo
0.5 miles
McDonald's
Dining
27,379 visits/mo
0.2 miles
Circle K
Shops & Services
24,976 visits/mo
0.2 miles
Applebee's
Dining
19,094 visits/mo
0.3 miles
Goodwill
Apparel
17,951 visits/mo
0.3 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
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Frequently Asked Questions
What type of property is this?
Retail space - A fully occupied retail building offering immediate functionality in a commercial corridor near Columbia Center Mall.
Where is this retail space located?
The property is located at 7509 West Deschutes Avenue Kennewick, WA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 9,315 SF retail building in Kennewick, WA; Built in 1990 and zoned CC; Fully occupied with an in‑place tenant (Hole in the Wall Shooting Range)
