Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1661 Fowler St Richland, WA 99352-4700
    Back to Search
    Property profile & analytics

    1661 Fowler St, Richland, WA 99352-4700

    View on Map
    • Retail properties & Spaces
    • 30,840 SF
    • 4.08 lot acres
    Off-Market
    Last Sale Oct 24, 2024
    Property ID
    US90-0642773
    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
    $4,215,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Social & Health Services Department / Social Service Agency / Charitable Organization
    • Department-Children & Family / Government

    Property Details for 1661 Fowler St

    Year built
    1995
    Construction
    CONCRETE
    Lot size
    4.08 lot acres
    Property type
    Retail properties & Spaces
    APN
    130991012113002
    APU
    130991012113002

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 24, 2025 — State Of Washington Richland State Professional Buildin Deed —
    Aug 23, 2019 — Richland State Professional Buildin — Deed · related —
    Sep 30, 2015 $6,300,000 Richland St Prof Building LLC Prium Richland Buildings LLC Warranty Deed $4.5M · Boeing Emps Cu
    Sep 2, 2008 — P & M Spokane Properties LLC — Deed Of Trust · related $1.2M · Equity Funding & Associates
    — — Benjamin M Tanaka — Deed Of Trust · related $319k · Summit Fndg
    — — Prium Richland Buildings LLC — Deed Of Trust · related $3M · Key Bank & Trust

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,050,000
      6.5%
      $5,585,000
      7%
      $5,185,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,884,000
      Market price range: $741k - $3.80M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $5,640,000
      Current use
      OFFICE BUILDING
      $6,915,000
      Change: +23% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Richland
    County
    Benton
    State
    Washington
    Longitude
    -119.225
    Latitude
    46.2342
    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
    $1,089,180
    $5,554,890
    $6,644,070
    -
    $1,089,180
    $5,554,890
    $6,644,070

    Comparable in this City

    • Value Estimation by Request
      1.74 Acres

      1084 George Washington Way

      Retail properties & Spaces
      1084 George Washington Way, Richland, WA 99352
      View Details
    • Value Estimation by Request

      2651 Queensgate Dr

      DEPARTMENT STORE
      2651 Queensgate Dr, Richland, WA 99352-9103
      View Details
    • Value Estimation by Request
      2,149 SF

      1950 Keene Rd Bldg Q

      DEPARTMENT STORE
      1950 Keene Rd Bldg Q, Richland, WA 99352-7754
      View Details
    • Value Estimation by Request
      2,702 SF

      1950 Keene Rd, Unit D1

      DEPARTMENT STORE
      1950 Keene Rd, Richland, WA 99352-7751
      View Details
    • Value Estimation by Request
      2,964 SF

      2569 Columbia Ctr Blvd

      DEPARTMENT STORE
      2569 Columbia Ctr Blvd, Richland, WA 99352-4852
      View Details
    • Value Estimation
      $2,975,000
      24,842 SF

      2921 Duportail St

      DEPARTMENT STORE
      2921 Duportail St, Richland, WA 99352
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.11 Acres

      Richland Retail Space - Great Location!

      Prime Richland retail space, all utilities included.
      1136 Columbia Park Trl, Richland, WA 99352
      View Details
    • Contact for pricing
      1.74 Acres

      Prime Richland Retail Space

      High-traffic location, 1.74 acres
      1084 George Washington Way, Richland, WA 99352
      View Details
    • Contact for pricing

      Retail Opportunity in West Richland

      Retail property available for sale in West Richland, Washington.
      4771 Van Giesen St, West Richland, WA 99352
      View Details
    • Contact for pricing
      10.00 Acres

      Richland Retail Opportunity

      Retail property for sale in Richland, Washington.
      105 W Columbia Point Dr, Richland, WA 99352
      View Details
    • $950,000
      0.53 Acres

      Retail Opportunity in Richland, WA

      Retail property for sale in Richland, Washington.
      747 Stevens Dr, Richland, WA 99352
      View Details
    • Contact for pricing
      8.71 Acres

      Retail Opportunity in Richland, WA

      Retail property available for sale in Richland, Washington.
      2610 N Columbia Center Blvd, Richland, WA 99352
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      102,196 SF

      2600 Columbia Center Blvd

      Medical Office Space
      2600 Columbia Center Blvd, Richland, WA 99352
      View Details
    • Contact for pricing
      39,732 SF

      Retail Space Available For Lease

      Retail property available for lease in Richland, Washington.
      1320 Lee Blvd, Richland, WA 99352
      View Details
    • Contact for pricing
      9,086 SF

      New Office/Retail Space Available

      New Class A building with customizable office/retail spaces for rent.
      460 Keene Rd, Richland, WA 99352
      View Details
    • $1,700 /Mo

      Jadwin Avenue Cafe/Coffee Shop

      Cafe/Coffee shop suite available for lease with high foot traffic.
      615 Jadwin Ave, Richland, WA 99352
      View Details
    • $13 SF/Yr

      Office/Retail Space in Richland

      Office/retail space available in November, located off Wright Ave.
      415 Wright Ave, Richland, WA 99352
      View Details
    • Contact for pricing
      1,067 SF

      Retail Space Near Fred Meyer

      Retail space available in Richland, Washington near major traffic routes.
      101 Wellsian Way, 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.
    1661 Fowler St
    Richland, WA 99352-4700
    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

    Thank You for Inquiry
    1661 Fowler St, Richland, WA, 99352
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!