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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2615 Kennewick Ave Kennewick, WA 99336-3124

    • Grocery and convenience stores
    • 4,885 SF
    • 0.57 lot acres
    OFF-MARKET
    Last Sale
    Jan 11, 2021
    $624,438
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    5.7%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US90-0993155
    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.

    Current Use by Public Records

    • Bruchi's / Sandwich Shop / Cheesesteak Restaurant
    • Bond & Co Glass Inc / Door Supplier

    Property Details for 2615 Kennewick Ave

    Year built
    1953
    Construction
    CONCRETE
    Lot size
    0.57 lot acres
    Property size
    4,885 SF
    Property type
    Grocery and convenience stores
    APN
    102892000007000
    APU
    102892000007000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,005,000
      ML approach
      $980,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $960,000
      6.5%
      $885,000
      7%
      $820,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $828,000
      Market price range: $236k - $829k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $820,000
      Current use
      COMMERCIAL (GENERAL)
      $1,425,000
      Change: +73% Conversion: Easy
      OFFICE BUILDING
      $1,070,000
      Change: +30% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennewick
    County
    Benton
    State
    Washington
    Longitude
    -119.157
    Latitude
    46.2091
    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
    $438,310
    $1,050,500
    $1,488,810
    -
    $438,310
    $1,050,500
    $1,488,810

    Comparable in this City

    • Value Estimation
      $9,665,000
      99,695 SF

      4602 Clearwater Ave

      GROCERY, SUPERMARKET • 99,695 SF
      4602 Clearwater Ave, Kennewick, WA 99336-6145
      View Details
    • Value Estimation
      $615,000
      3,289 SF

      2624 Kennewick Ave

      GROCERY, SUPERMARKET • 3,289 SF
      2624 Kennewick Ave, Kennewick, WA 99336-3123
      View Details
    • Value Estimation
      $2,285,000
      24,489 SF

      1325 4th Ave

      GROCERY, SUPERMARKET • 24,489 SF
      1325 4th Ave, Kennewick, WA 99336-5032
      View Details
    • Value Estimation by Request

      1220 Columbia Ctr Blvd

      GROCERY, SUPERMARKET
      1220 Columbia Ctr Blvd, Kennewick, WA 99336-1145
      View Details
    • Value Estimation by Request

      6205 Clearwater Ave

      GROCERY, SUPERMARKET
      6205 Clearwater Ave, Kennewick, WA 99336-1842
      View Details
    • Value Estimation by Request

      400 Columbia Dr

      GROCERY, SUPERMARKET
      400 Columbia Dr, Kennewick, WA 99336-3711
      View Details

    Similar Nearby for Sale

    • $10,000,000
      82,864 SF

      Kennewick Value-Add Retail Center

      99% occupied retail center with value-add potential in Kennewick, WA.
      101 Vista Way, Kennewick, WA 99336
      View Details
    • $860,000
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      Kennewick Drive-Thru Retail Space

      Prime Kennewick location, vacant bank, drive-thru.
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    • $1,000,000
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      Kennewick Retail Bank Building

      Prime Downtown Kennewick Location, 6,500 SF
      303 1St Ave, Kennewick, WA 99336
      View Details
    • $1,850,000
      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
    • $899,000

      Historic Building Redevelopment Opportunity

      Former Farm Supply Building with redevelopment potential and adjacent lot.
      215 W Canal Dr, Kennewick, WA 99336
      View Details
    • $599,000

      Former Parts Store and Shop

      7,060 SF building with retail and shop space.
      19 N Benton St, Kennewick, WA 99336
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    Similar Nearby for Lease

    • Contact for pricing
      1,460 SF

      Kennewick Retail Space For Lease

      1,460 SF Retail Space in Prime Location
      2811 10Th Ave, Kennewick, WA 99336
      View Details
    • Contact for pricing
      17,282 SF

      Prime Retail Space on Steptoe

      High-traffic location near shopping centers with drive-thru options.
      1901 N Steptoe St, Kennewick, WA 99336
      View Details
    • $1,809 /Mo
      740 SF

      Retail/Office Space in Central Clearwater

      Retail or office spaces available in high-traffic Clearwater location.
      4415 W Clearwater Ave, Kennewick, WA 99336
      View Details
    • $25 SF/Yr
      11,273 SF

      Kennewick Retail Space Available

      Retail property in Kennewick with tenant improvement allowance.
      7103 W Clearwater Ave, Kennewick, WA 99336
      View Details
    • Contact for pricing
      2,666 SF

      Kennewick Retail Space Available Now

      2,666 SF retail space with optional yard and improvements.
      4209 W Clearwater Ave, Kennewick, WA 99336
      View Details
    • $20 SF/Yr
      1,272 SF

      Retail Space in Colonnade Center

      Former bakery space available for lease in Kennewick, WA.
      6501 W Grandridge Blvd, Kennewick, WA 99336
      View Details

    Property Visit Statistics

    • Visits by month
      7.7k
    • Visitors by month
      7.5k
    • Avg Time on site
      21 min
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    Kennewick, WA 99336-3124
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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.

    More about this property
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