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    Benton City Multi-Family Lot Title is generated by Realmo AI

    NKA 11th Street, Benton City, WA 99320

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    Claim this Listing
    For Sale
    $229,000

    LAND - Benton City, WA

    Lot size:
    0.32 Acres
    Added:
    Mar 29, 2026
    Days on Market:
    61
    Last Refresh:
    May 28 at 2:06 pm

    Property Features for NKA 11th Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    MULTI-FAMILY RE
    Standard status
    Active
    Lot size
    0.32 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    588

    We can help!

    Listing Contact
    Jeremy Blasdel
    Jeremy Blasdel

    Listing agent Jeremy Blasdel

    Listing office Kelly Right Real Estate TC 1321 Columbia Park Trail Ste D, Spokane, WA

    Listing date Mar 29, 2026

    MLS# 291651 Listing URL

    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.

    HighLights

    • Multi‑family lot with potential for increased density zoning (4‑6 units possible).
    • Excellent investment opportunity in a growing area.
    • Walking distance to downtown Benton City restaurants and bars.
    • Close proximity to Red Mountain AVA wine region.
    • Less than 30‑minute drive to Hanford Nuclear campus (major employer).
    • Water, sewer, and irrigation are available at the property line.

    Overview

    This 0.32-acre level multi-family lot is located in Benton City. It presents an opportunity for real estate investors or individuals seeking to begin their investment journey. The city of Benton City is updating its zoning standards to reflect the state's push for higher density zoning, and is expected to allow at least 4 units to be built on a lot of this size, zoned multi-family/medium density residential, and possibly even 6 units. The lot is within walking distance of downtown Benton City, which offers local restaurants and a bar. It is a short drive to the Red Mountain AVA, which offers wine tasting and events during the summer. The Hanford Nuclear campus, a major area employer, is less than a 30-minute drive away. The City will require roughly 300' of 11th street to be built at the time of development. Water, sewer, and irrigation are all in the alley way at the back of the property, according to city utility maps. An irrigation spigot is ready for use at the back of the property. Another alley way runs on the south border of this property and can be vacated to allow for more roadway frontage and a larger lot if desired.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Benton City
    County
    Benton
    State
    Washington
    Longitude
    -119.4907054
    Latitude
    46.26558537

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    FAQs

    What type of property is this?
    Residential land & home lot - Level multi-family lot in the heart of Benton City.
    Where is this residential land & home lot located?
    The property is located at NKA 11th Street Benton City, WA.
    What is the asking price?
    The asking price for this property is $229,000.
    What are key features of this property?
    This property features: Multi‑family lot with potential for increased density zoning (4‑6 units possible).; Excellent investment opportunity in a growing area.; Walking distance to downtown Benton City restaurants and bars.
    (509) 832-2548
    We can help!
    Listing Contact
    Jeremy Blasdel
    Jeremy Blasdel
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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