Retail Investment Property For
For Sale
Contact for pricing
8318 W Gage Blvd, Kennewick, WA 99336
Multi-tenant retail property with long-term restaurant tenant.
Property Size9,000 SF
Price / SF$199.44
Days on Market251
Property Features for 8318 W Gage Blvd
General Information
Standard status
Active
Size
9,000 SF
Class
B
Property subtype
Retail, Office
Zoning
Commercial General
Lease Type
Gross
Net Operating Income
$126,989
Building Details
Year Built
1977
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Kiemle Hagood
Listed By:
Michael Petrillo · License #WA
(509) 579-2247
Source:
Crexi
Added: Feb 2
Changed: Sep 28
Last Checked: Oct 9 at 7:36PM
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 multi-tenant retail investment property features a successful, long-term restaurant tenant as an anchor. Situated in a central Kennewick retail area, the property is located near the Columbia Center Mall, Costco, Olive Garden, and an AMC movie theatre. The property has one suite currently available for lease, presenting a potential opportunity for owner-occupancy with upside. The property size is 9000 square feet.
Key Highlights
- Anchored by a very successful, long‑term restaurant tenant.
- Located in a prime retail location in Kennewick.
- Situated next to Columbia Center Mall, Costco, Olive Garden, and AMC movie theatre.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,656
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,773,120
$2.8M
Cap Rate 7%
$1,980,800
$2.0M
Cap Rate 9%
$1,540,622
$1.5M
Market Conditions
NOI Build-Up for 9,000 SF
Gross rent
$194.4K $21.60/SF
− Vacancy
−$9.5K −$1.06/SF
EGI
$184.9K $20.54/SF
− OpEx
−$46.2K −$5.14/SF
NOI
$138.7K $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%
$2,773,120
Cap Rate 7%
$1,980,800
Cap Rate 9%
$1,540,622
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,656 @ 7.0% cap · market cap 7.72%
Second Best
Retail
$1.51M
$1.32M – $1.77M
NOI $105,916 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$2.50M
$2.18M – $2.91M
NOI $174,739 @ 7.0% cap · market cap 9.73%
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
1,588
Businesses Nearby
645k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 32%
Apparel 32%
Shops & Services 23%
Dining 10%
Costco Wholesale
Superstores
209,154 visits/mo
0.2 miles
Macy's
Apparel
88,256 visits/mo
0.4 miles
JCPenney
Apparel
74,147 visits/mo
0.3 miles
Costco Gasoline
Shops & Services
46,606 visits/mo
0.3 miles
Jo-Ann Fabric and Craft
Shops & Services
39,755 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
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
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Similar Off Market Nearby
- Columbia Square — 1232 N Columbia Center Blvd, Kennewick, WA 99336
- Coinstar Kiosk - Bitcoin ATM — 140 W Gage Blvd Safeway, Richland, WA 99352
- Sunglass Hut at Macy's — 1321 N Columbia Center Blvd, Kennewick, WA 99336
- Columbia Center — 1321 N Columbia Center Blvd, Kennewick, WA 99336
- Yellowstone North Retail Center — 8524 W Gage Blvd, Kennewick, WA 99336
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with long-term restaurant tenant.
Where is this shopping center located?
The property is located at 8318 W Gage Blvd Kennewick, WA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Anchored by a very successful, long‑term restaurant tenant.; Located in a prime retail location in Kennewick.; Situated next to Columbia Center Mall, Costco, Olive Garden, and AMC movie theatre.
