Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    691 Windmill Rd Richland, WA 99352

    • Land
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 691 Windmill Rd

    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 2.46-acre parcel of commercially zoned land presents a unique investment opportunity in Richland, Washington. Located at 691 Windmill Road, this property boasts an enviable location adjacent to the new BFT Transfer Station off Queensgate Drive, ensuring high traffic counts and excellent visibility for any business. The site's proximity to the Columbia Park Trail and its convenient access via Millwood Road further enhance its appeal. Its strategic placement near the bustling Bookwalter Winery, a central hub for local activity, promises significant foot traffic and brand recognition. The property is zoned for commercial retail use, offering considerable flexibility for a wide range of industrial and commercial developments. With MLS# 272074, this land offers a rare chance to establish a thriving enterprise in a high-demand area. The asking price is $2,786,000. The property is located in Benton County, Washington, with a zip code of 99352, and its coordinates are 46.2533242 latitude and -119.3004103 longitude. This is a blank canvas ready for your vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Richland
    County
    Benton
    State
    Washington
    Longitude
    -119.3
    Latitude
    46.2533

    Comparable in this City

    • Value Estimation by Request

      875 Tulip Ln

      Land
      875 Tulip Ln, Richland, WA 99352
      View Details
    • Value Estimation by Request
      3.12 Acres

      2701 Steptoe St

      Land • 3.12 Acres
      2701 Steptoe St, Richland, WA 99352
      View Details
    • Value Estimation by Request
      0.81 Acres

      5077 Ava Way

      Land • 0.81 Acres
      5077 Ava Way, Richland, WA 99352
      View Details
    • Value Estimation by Request
      0.94 Acres

      Desert Sky

      Land • 40,816 SF
      0 Desert Sky, Richland, WA 99352
      View Details
    • Value Estimation by Request
      0.69 Acres

      Tapteal Dr

      Land • 0.69 Acres
      0 Tapteal Dr, Richland, WA 99352
      View Details
    • Value Estimation by Request
      57,736 SF

      3121 Leslie Rd

      Distribution properties • 57,736 SF
      3121 Leslie Rd, Kennewick, WA 99352
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.94 Acres

      Desert Sky Commercial Land Parcels

      Richland, WA: Prime Commercial Land
      0 Desert Sky, Richland, WA 99352
      View Details
    • $11,761,200
      15.00 Acres

      Richland Commercial Land Investment

      15 Acres, Central Tri-Cities, WA
      1550 Tapteal Dr, Richland, WA 99352
      View Details
    • $87,900

      Land For Sale Richland, WA

      Land available for purchase in Richland, Washington.
      903 W Curie St, Richland, WA 99352
      View Details
    • $82,900

      Land For Sale Richland, WA

      Land available for purchase in Richland, Washington.
      903 W Curie St, Richland, WA 99352
      View Details
    • $1,650,000
      0.70 Acres

      Richland Industrial Property for Sale

      Industrial property available in Richland, Washington.
      1893 Airport Way, Richland, WA 99352
      View Details
    • $71,900

      Land For Sale Richland, WA

      Land available for purchase in Richland, Washington.
      903 W Curie St, Richland, WA 99352
      View Details

    Similar Nearby for Lease

    • $9,500 /Mo
      7,836 SF

      Land for Ground Lease

      Land available for ground lease in Richland, Washington.
      924 George Washington Way, Richland, WA 99352
      View Details
    • $15 SF/Yr
      57,736 SF

      Leslie Rd Flex Space Business Center

      New Richland Flex Space; 18 Units Available
      3121 Leslie Rd, Kennewick, WA 99352
      View Details
    • $15 SF/Yr
      2,800 SF

      Climate-Controlled Warehouse with Drive-Through

      2,800 SF climate-controlled warehouse space with drive-through access.
      1333-1339 Tapteal Dr, Richland, WA 99352
      View Details
    • $15 SF/Yr
      3,808 SF

      New Flex Space Business Center

      New flex space in Richland with high visibility.
      3121 Leslie Rd, Richland, WA 99352
      View Details
    • $4,400 /Mo
      3,750 SF

      Industrial Space with Fenced Laydown

      3,750 SF industrial space with 10,000 SF fenced laydown.
      191 East Reata Rd, Richland, WA 99352
      View Details
    • $4,100 /Mo
      10,000 SF

      Richland Airport Business Park Flex

      Two move-in ready, heated and cooled buildings in Richland.
      1893 Terminal Dr, Richland, WA 99352
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    691 Windmill Rd
    Richland, WA 99352
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.