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    117 W Kennewick Ave Kennewick, WA 99336
    Property profile & analytics

    117 W Kennewick Ave Kennewick, WA 99336

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    • Retail space
    • 6,784 SF
    • 0.16 lot acres
    For Sale
    $930,000
    View Listing →
    Retail Opportunity in Kennewick, WA For Sale
    $930,000
    0.16 Acres

    Retail Opportunity in Kennewick, WA

    Retail property for sale in Kennewick, Washington.

    117 W Kennewick Avenue, Kennewick, WA 99336
    View Listing
    Property ID
    US90-1650355
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Heber Hatchets / Hotel & Motel / Resort

    Property Details for 117 W Kennewick Ave

    Year built
    1920
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.16 lot acres
    Property size
    6,784 SF
    Zone code
    21
    Property type
    Retail space
    APN
    101891020005009
    APU
    101891020005009

    Description

    This exceptional retail opportunity is situated in the heart of downtown Kennewick, Washington, at 117 W Kennewick Ave, 99336, between Benton Street and Auburn Street. The property boasts a total of 6,728 square feet across two suites within a single, one-story building, situated on a 0.166-acre lot. Currently, 3,275 square feet are available for lease, presenting a fantastic chance for a new business to thrive in this vibrant area. The building underwent renovations in 2018, ensuring modern amenities. The location benefits from excellent visibility and accessibility on Kennewick Avenue, a bustling thoroughfare known for its lively atmosphere and frequent community events, including car shows, art walks, and parades. Utilities are available, including power. While there are no elevators, the single-story building offers convenient access for all tenants and customers. This property is ideal for a variety of retail uses and represents a unique chance to establish a presence in Kennewick's historic downtown district. The property is located in Benton County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,330,000
      6.5%
      $1,230,000
      7%
      $1,140,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $776,000
      Market price range: $328k - $1.15M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,140,000
      Current use
      OFFICE BUILDING
      $1,485,000
      Change: +30% Conversion: Easy

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kennewick
    County
    Benton
    State
    Washington
    Longitude
    -119.119
    Latitude
    46.2084
    CBSA code
    28420
    CBSA name
    KENNEWICK-RICHLAND-PASCO, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $60,680
    $866,170
    $926,850
    -
    $60,680
    $866,170
    $926,850

    Comparable in this City

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    • Value Estimation by Request
      0.32 Acres

      Kennewick, WA 99336

      RETAIL STORES (PERSONAL SERVICES) • 0.32 Acres
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    • Value Estimation by Request
      1,175 SF

      9 Kennewick Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,175 SF
      9 Kennewick Ave, Kennewick, WA 99336-3833
      View Details
    • Value Estimation
      $1,280,000
      7,544 SF

      8903 Gage Blvd

      RETAIL STORES (PERSONAL SERVICES) • 7,544 SF
      8903 Gage Blvd, Kennewick, WA 99336-7149
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    • Value Estimation by Request
      4,200 SF

      318 Columbia Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,200 SF
      318 Columbia Dr, Kennewick, WA 99336-3713
      View Details
    • Value Estimation by Request

      Various Kennewick

      RETAIL STORES (PERSONAL SERVICES)
      Various Kennewick, Kennewick, WA 99336
      View Details

    Similar Nearby for Sale

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      9,468 SF

      Retail/Office/Warehouse with Storage Building

      Two buildings on one acre in Kennewick, Washington.
      6202 W Deschutes Ave, Kennewick, WA 99336
      View Details
    • Contact for pricing
      0.60 Acres

      Retail Space in Kennewick, WA

      Retail property for sale in Kennewick, Washington.
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    • $599,000

      Former Parts Store and Shop

      7,060 SF building with retail and shop space.
      19 N Benton St, Kennewick, WA 99336
      View Details
    • $845,000

      Retail Store with Attached Shop

      Retail space with attached shop available for redevelopment.
      35 N Benton St, Kennewick, WA 99336
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    • Contact for pricing
      1.24 Acres

      Kennewick Retail/Office Opportunity

      Commercial property in Kennewick, WA, suitable for retail or office.
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      Former Bank Building with Drive-Thru

      6,500 SF former bank building with drive-thru for sale.
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    Similar Nearby for Lease

    • $24 SF/Yr
      4,000 SF

      Retail Space Near Steptoe Intersection

      Retail suites available in new building near Kadlec.
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      View Details
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      Clearwater Avenue Retail/Office Space

      Highly visible retail/office space with open floor plan.
      10379 W Clearwater Ave, Kennewick, WA 99336
      View Details
    • $0.07 SF/Yr
      33,456 SF

      Kennewick Retail Space For Lease

      Retail space available for lease in Kennewick, Washington.
      908 North Colorado St, Kennewick, WA 99336
      View Details
    • $16 SF/Yr
      53,000 SF

      High-Traffic Retail Center in Kennewick

      Established retail center with high visibility and strong tenant synergy.
      5215 W Clearwater Ave, Kennewick, WA 99336
      View Details
    • Contact for pricing
      860 SF

      Clearwater Avenue Commercial Space Available

      Commercial space on Clearwater Ave, suitable for retail or showroom.
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    • $15 SF/Yr
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      Prime Retail Space Available

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      View Details
    View Listing
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    Kennewick, WA 99336
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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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