303 1St AveKennewick, WA 99336

Property Details for 303 1St Ave

Lot size

0.16 AC

Zone code

21

Property type

Office properties

Property subtype

Office buildings

APN

101891030010005

APU

101891030010005

Description

This exceptional retail property, a former US Bank building, presents a unique investment opportunity in Kennewick, Washington. Located at 303 W 1st Ave, in the heart of the downtown business district, this single-tenant building offers 6,500 square feet of space, spread across a main level and basement. Built in 1967, the property boasts a convenient drive-thru, a significant asset for various retail uses. The asking price is $1,000,000, translating to $153.85 per square foot. Alternatively, a Net Net Net (NNN) lease is available at a monthly rate of $4,500. The property sits on a substantial 20,909 square foot lot, identified by APN 101891030010001. Its prime location and versatile layout make it ideal for a variety of retail businesses. This is a rare opportunity to acquire a well-situated, established building in a thriving downtown area. The property's history as a bank provides a solid foundation for future success, and its ample space and drive-thru feature offer significant potential for growth and profitability. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $1,425,553

  6.5%

  $1,315,895

  7%

  $1,221,903

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,491,617

  Geo Method

  $1,491,617

• Alternative Use

  Use

  Valuation

  Residential

  $1,631,710

  Hospitality

  $1,494,638

  Educational

  $1,243,521

  Medical

  $1,286,288

  Retail

  $1,934,366

Location Insight

City

Kennewick

County

Benton

State

Washington

Latitude

46.2073

Longitude

-119.122

CBSA code

28420

CBSA name

KENNEWICK-RICHLAND-PASCO, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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