Office Building with Finished
New
For Sale
$814,000
7515 W Deschutes Ave, Kennewick, WA 99336
Commercial Sale, Kennewick, WA
Property Size3,818 SF
Lot Size0.43 Acres
Price / SF$213.20
Days on Market2
Property Features for 7515 W Deschutes Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMCL OFFICE
Parking
11
Interior features
Appliances Included, Storage, Private Bathrooms
Exterior features
Gutters Full, Landscaping, Parking/10+ Spaces
Directions
South on Columbia Center, left on Deschutes Ave, 3rd building on right.
Standard status
Active
APN
106891000001002
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4526
Utilities
Utilities
Natural Gas Available
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1990
Flooring type
Tile, Carpet
Building materials
Metal Siding, Brick Trim
Roof type
Composition
Additional Structures
Storage
Listing Agency:
HomeSmart Elite Brokers
(509) 371-9085
Listed By:
Kellen Belew · License #114951
(509) 412-2058
Added: Oct 3
Last Checked: Oct 4 at 12:06PM
MLS# 296940
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The 1990 office building contains 3,161 square feet of office space plus 657 square feet of finished garage area with concrete floors, storage, and an overhead door measuring approximately 11 feet by 10 feet. Interior areas include an entry and reception point, a conference room, private offices, two rooms without doors, two private bathrooms, a shower, and a full kitchen with appliances. Two HVAC systems serve the building, and the site includes parking for 10 or more vehicles on 0.43 acres.
The property is three buildings east of Columbia Center and one block north of Clearwater Avenue in Kennewick. Exterior materials include metal siding with brick trim. Commercial office zoning is identified in the property information; permitted uses should be confirmed with the City of Kennewick.
The property is three buildings east of Columbia Center and one block north of Clearwater Avenue in Kennewick. Exterior materials include metal siding with brick trim. Commercial office zoning is identified in the property information; permitted uses should be confirmed with the City of Kennewick.
Key Highlights
- 3,161 square feet of office area and 657 square feet of finished garage space
- Finished garage has concrete floors, storage, and an approximately 11' x 10' overhead door
- Two HVAC systems serve 10 interior areas
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
$58,606
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
7.20%
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%
$1,172,120
$1.2M
Cap Rate 7%
$837,229
$837.2K
Cap Rate 9%
$651,178
$651.2K
Market Conditions
NOI Build-Up for 3,818 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
$83.8K $21.96/SF
− Vacancy
−$5.7K −$1.49/SF
EGI
$78.1K $20.47/SF
− OpEx
−$19.5K −$5.12/SF
NOI
$58.6K $15.35/SF
Area
Benton County, WA
Vacancy
6.80%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$1,172,120
Cap Rate 7%
$837,229
Cap Rate 9%
$651,178
Alternative Uses
Best Use
Office B
$837.2K
$732.6K – $976.8K
NOI $58,606 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$926.6K – $1.24M
NOI $74,128 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,214
Businesses Nearby
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
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Configured for office use, the property includes private rooms, conference space, a kitchen, and finished garage storage.
Where is this office building located?
The property is located at 7515 W Deschutes Ave Kennewick, WA.
What is the asking price?
The asking price for this property is $814,000.
What are key features of this property?
This property features: 3,161 square feet of office area and 657 square feet of finished garage space; Finished garage has concrete floors, storage, and an approximately 11' x 10' overhead door; Two HVAC systems serve 10 interior areas
