Grocery-Anchored Dollar Tree
For Sale
$6,825,000
81 Columbia Point Dr, Richland, WA 99352
25,000 SF NNN investment property with long-term tenant.
Property Size25,049 SF
Price / SF$272.47
Days on Market209
Property Features for 81 Columbia Point Dr
General Information
Standard status
Active
Size
25,049 SF
Property subtype
Shopping Strip
Amenities
Long-Term National Credit Tenant
Scheduled Rent Growth
7.11% Cap Rate in 2029
WinCo Foods Anchored Shopping Center
Dynamic Retail Trade Area
High-Growth Metro
Building Details
Building Size
25,049 SF
Year Built
2003
Listing Agency:
Seattle Office
Listed By:
Maxwell O'Donoghue-McDonald · License #License(s): ID: SP46325, WA: 27702, MT: 93077
(509) 570-7447
Source:
Marcusmillichap
Added: Mar 31
Changed: Oct 23
Last Checked: Oct 24 at 1:31PM
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 Seattle Office
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Investment Insights
Based on property information with market context.
This 25,000 square foot property presents an investment opportunity with a 6.69% CAP rate and a net operating income of $426,016 annually. The property is anchored by Dollar Tree, a national credit tenant, occupying 19,966 square feet. Dollar Tree has extended its lease for 8 years, through January 2032, with two 5-year renewal options extending tenancy until 2042. There is a vacant 5,000 square foot suite adjacent to Dollar Tree, formerly a Mattress Suite, which is listed for lease at $22.50 per square foot. NNN estimates are $3.75. WinCo Grocery manages all of the Center's Common Area Maintenance.
Key Highlights
- Grocery‑anchored investment property with Dollar Tree as the anchor tenant.
- Attractive 6.69% CAP rate and $426,016 net operating income (NOI).
- Dollar Tree recently extended its lease through January 2032, with options to extend until 2042.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$385,910
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,718,200
$7.7M
Cap Rate 7%
$5,513,000
$5.5M
Cap Rate 9%
$4,287,889
$4.3M
Market Conditions
NOI Build-Up for 25,049 SF
Gross rent
$541.1K $21.60/SF
− Vacancy
−$26.5K −$1.06/SF
EGI
$514.5K $20.54/SF
− OpEx
−$128.6K −$5.14/SF
NOI
$385.9K $15.41/SF
Area
Benton County, WA
Vacancy
4.90%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,718,200
Cap Rate 7%
$5,513,000
Cap Rate 9%
$4,287,889
Alternative Uses
Best Use
Specialty Retail
$5.51M
$4.82M – $6.43M
NOI $385,910 @ 7.0% cap · market cap 5.65%
Second Best
Retail
$4.21M
$3.68M – $4.91M
NOI $294,787 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$6.95M
$6.08M – $8.11M
NOI $486,337 @ 7.0% cap · market cap 7.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
158k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 52%
Dining 27%
Shops & Services 15%
Apparel 3%
WinCo Foods
Groceries
82,246 visits/mo
0.1 miles
Dollar Tree
Shops & Services
19,161 visits/mo
0.1 miles
Jack in the Box
Dining
17,277 visits/mo
0.1 miles
Starbucks
Dining
14,621 visits/mo
0.1 miles
Applebee's
Dining
10,821 visits/mo
0.1 miles
Demographics for 99352, WA
35,762
Population
15,522
Households
2.3
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
24.0 sq mi
ZIP Area
1,490
Density / Sq Mi
$96,875
Median Household Income
$65,348
Median Earnings
$1,457
Median Rent
$442,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
NNN property - 25,000 SF NNN investment property with long-term tenant.
Where is this nnn property located?
The property is located at 81 Columbia Point Dr Richland, WA.
What is the asking price?
The asking price for this property is $6,825,000.
What are key features of this property?
This property features: Grocery‑anchored investment property with Dollar Tree as the anchor tenant.; Attractive 6.69% CAP rate and $426,016 net operating income (NOI).; Dollar Tree recently extended its lease through January 2032, with options to extend until 2042.
