Professional Office Building with
For Sale
Contact for pricing
8200 W Grandridge Blvd, Kennewick, WA 99336
A built-in-1994 office building on a 3-acre lot with about 65 on-site parking stalls and flexible commercial zoning.
Property Size9,226 SF
Lot Size3.00 Acres
Price / SF$374.49
Days on Market326
Property Features for 8200 W Grandridge Blvd
General Information
Standard status
Active
Size
9,226 SF
Total Parking Spaces
65
Lot size
3.00 Acres
Property subtype
OFFICE
Building Details
Year Built
1994
Buildings
1
Listing Agency:
Kiemle Hagood
(509) 430-6547
Listed By:
Lance Bacon · License #25742
(509) 430-6547
Source:
Moodyscre
Added: Sep 26, 2025
Changed: Jul 29
Last Checked: Aug 16 at 4:38AM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This professional office building offers 9,226 SF of commercial space within a 3-acre lot. The building was built in 1994 and provides a versatile layout suitable for a range of business uses under commercial zoning. Ample on-site parking is available, with approximately 65 stalls.
The property includes a surplus parcel and was part of an active short plat process intended to separate out a 2-acre parcel with the building and land, plus a 1-acre parcel. The 1-acre parcel is planned for a corner location on Center Parkway and Grandridge Blvd, with the final lot creation to be determined through a site plan agreement between buyer and seller.
For buyers considering an owner-user setup, or those evaluating potential redevelopment or reconfiguration of the site, the combination of flexible building space and surplus land supports a range of possibilities.
The property includes a surplus parcel and was part of an active short plat process intended to separate out a 2-acre parcel with the building and land, plus a 1-acre parcel. The 1-acre parcel is planned for a corner location on Center Parkway and Grandridge Blvd, with the final lot creation to be determined through a site plan agreement between buyer and seller.
For buyers considering an owner-user setup, or those evaluating potential redevelopment or reconfiguration of the site, the combination of flexible building space and surplus land supports a range of possibilities.
Key Highlights
- 9,226 SF professional office building built in 1994
- 3‑acre lot with approximately 65 on‑site parking stalls
- Commercial zoning with a versatile building layout
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
$141,619
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
4.10%
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%
$2,832,380
$2.8M
Cap Rate 7%
$2,023,129
$2.0M
Cap Rate 9%
$1,573,544
$1.6M
Market Conditions
NOI Build-Up for 9,226 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
$202.6K $21.96/SF
− Vacancy
−$13.8K −$1.49/SF
EGI
$188.8K $20.47/SF
− OpEx
−$47.2K −$5.12/SF
NOI
$141.6K $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%
$2,832,380
Cap Rate 7%
$2,023,129
Cap Rate 9%
$1,573,544
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,619 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,127 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,763
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - A built-in-1994 office building on a 3-acre lot with about 65 on-site parking stalls and flexible commercial zoning.
Where is this office building located?
The property is located at 8200 W Grandridge Blvd Kennewick, WA.
What is the asking price?
The asking price for this property is $3,455,000.
What are key features of this property?
This property features: 9,226 SF professional office building built in 1994; 3‑acre lot with approximately 65 on‑site parking stalls; Commercial zoning with a versatile building layout
