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Property profile & analytics
FOR SALE
Office buildings
303 W 1St Ave Kennewick, WA 99336
Individually Owned
Free & Clear
Property ID
US90-0852460
For Sale
1 / 4
$1,000,000
303 W 1St Ave, Kennewick, WA 99336
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,250 SF
Lot
0.32 ac (13,991 SF)
Zoning code
KENNEWICK - CC
APN
101891030010001
UPID
US90-0852460
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
US Bank Mortgage Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$820k
Comparable Approach
Comparable
$1.06M
Blend (final)
Blend
$945k
Owner & transaction history
John And Ginger Niemeyer Foundation
John And Ginger Niemeyer Foundation
since 2026
4 recorded transactions
Zoning & alternative use
KENNEWICK - CC · Kennewick, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$945,000
+33.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Kennewick submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kennewick submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$885,000
6.5%
$820,000
7%
$760,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$710,000
Current use
COMMERCIAL (GENERAL)
$945,000
Change: +33% · Conversion: Easy
Blend value · Realmo final
$945k
Range $851k – $1.04M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$291 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$1,024,030
Assessed 2023
Previous assessed
$928,860
+10.2% YoY
Assessed land
$110,420
Assessed improvement
$913,610
Land market value
$110,420
Improvement market value
$913,610
Total market value
$1,024,030
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Status
For Sale
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
3,250 SF
Lot
0.32 ac (13,991 SF)
Zoning code
KENNEWICK - CC
APN
101891030010001
UPID
US90-0852460
Jurisdiction
BENTON
Zoning & alternative use
KENNEWICK - CC · Kennewick, WA
Zoning KENNEWICK - CC · permitted uses
KENNEWICK - CC · Kennewick, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Kennewick. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$710,000
COMMERCIAL (GENERAL)
Est. value
$945,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
John And Ginger Niemeyer Foundation
Individual
Free & Clear · 0 yrs held
Mailing address
15 82ND DR STE #210, GLADSTONE, OR 97027-2552
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2026
$313
John And Ginger Niemeyer Foundation
John Niemeyer
Special Warranty Deed
—
Nov 5, 2018
$281
John Niemeyer
D & D Family LLC
Warranty Deed
—
Sep 13, 2013
—
D & D Family LLC
Hovde,david R & Donna R
Quit Claim Deed
related
—
Apr 8, 2013
$800,000
David R Hovde
Doces,paul M
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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