1605 Bombing Range Rd West Richland, WA 99353
- Retail space
- 6,294 SF
- 1.22 lot acres
Current Use by Public Records
- Retail space
Property Details for 1605 Bombing Range Rd
- Year built
- 2023
- Construction
- CONCRETE
- Lot size
- 1.22 lot acres
- Property size
- 6,294 SF
- Property type
- Retail space
- APN
- 106984020237002
- APU
- 106984020237002
Description
This exceptional investment opportunity presents a portfolio of two brand-new, Class A buildings totaling 12,588 square feet situated on a 1.22-acre lot in West Richland, Washington. The property, located at 1605 Bombing Range Rd, boasts a prime location at a high-traffic corner, adjacent to established businesses like Gesa, Swigg Coffee, and Yokes Fresh Market. Currently 100% occupied by six credit-rated tenants under absolute NNN leases, this stabilized investment offers a compelling 4.85% cap rate with a net operating income (NOI) of $319,761. The property features a mix of office and retail spaces, with each building consisting of one story. Built in 2023, the property includes 12,000 square feet of net rentable space, priced at $524 per square foot. The asking price is $6,592,550. An additional 1,835 square feet of vanilla shell space is available for lease takeover, presenting an added value proposition. The property is zoned for commercial use and benefits from built-in annual lease escalations. This is a rare opportunity to acquire a high-performing, multi-tenant restaurant portfolio in a thriving West Richland location. The property's strong tenant base, prime location, and attractive design make it an ideal investment for discerning buyers seeking stable income and long-term growth potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $5,770,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $6,100,000
- 6.5%
- $5,675,000
- 7%
- $5,500,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $5,540,000
- Geo Method
- $5,815,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $6,555,000
- Retail
- $7,110,000
- Mixed-Use
- $6,545,000
- Hospitality
- $5,550,000
- Educational
- $5,720,000
- Residential Income
- $7,245,000
- Energy
- $5,790,000
- Income-Based Land
- $5,335,000
- Food Service
- $6,065,000
Location Insight
- Map
- Local Demand
- City
- West Richland
- County
- Benton
- State
- Washington
- Longitude
- -119.349
- Latitude
- 46.2865
- CBSA code
- 28420
- CBSA name
- KENNEWICK-RICHLAND-PASCO, WA METROPOLITAN STATISTICAL AREA
