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    Property profile & analytics

    4206 W 24Th Ave Kennewick, WA 99338

    • Office buildings
    • 12,000 SF
    • 1.72 lot acres
    For Sale
    View listing
    $2,867
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3126000
    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

    • Southland Industries / General Contractor / Construction Company
    • Onions Direct LLC / Agricultural Supply / Food Market
    • PT for Kids -- KidSPOT / Medical Clinic
    • Alton Tricities Massage / Alternative Medicine Practice / Spa & Massage Center
    • Allen Family Chiropractic | Chiropractor in Kennewick, WA / Alternative Medicine Practice

    Property Details for 4206 W 24Th Ave

    Year built
    2008
    Construction
    WOOD FRAME
    Lot size
    1.72 lot acres
    Property size
    12,000 SF
    Property type
    Office buildings
    APN
    110893BP3889001
    APU
    110893BP3889001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $2,650,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennewick
    County
    Benton
    State
    Washington
    Longitude
    -119.178
    Latitude
    46.188
    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
    $638,370
    $1,968,500
    $2,606,870
    -
    $638,370
    $1,968,500
    $2,606,870

    Comparable in this City

    • Value Estimation
      $2,975,000
      20,885 SF

      4304 24th Ave

      PROFESSIONAL BUILDING • 20,885 SF
      4304 24th Ave, Kennewick, WA 99338-2320
      View Details
    • Value Estimation
      $1,430,000
      13,160 SF

      5115 Brinkley Rd

      PROFESSIONAL BUILDING • 13,160 SF
      5115 Brinkley Rd, Kennewick, WA 99338-2012
      View Details
    • Value Estimation by Request

      2459 Un Pl Ste, Unit 120

      PROFESSIONAL BUILDING
      2459 Un Pl Ste, Kennewick, WA 99338-2441
      View Details
    • Value Estimation by Request

      3305 19th Ave

      PROFESSIONAL BUILDING
      3305 19th Ave, Kennewick, WA 99338-2226
      View Details
    • Value Estimation by Request

      4253 24th Ave, Unit 120

      PROFESSIONAL BUILDING
      4253 24th Ave, Kennewick, WA 99338-2319
      View Details
    • Value Estimation by Request

      1103 Jurupa St

      PROFESSIONAL BUILDING
      1103 Jurupa St, Kennewick, WA 99338-9392
      View Details

    Similar Nearby for Sale

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      0.25 Acres

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      Office space available in Kennewick, Washington.
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      1.72 Acres

      Kennewick Office Property For Sale

      Commercial office property available in Kennewick, Washington.
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    • Contact for pricing
      1.72 Acres

      Kennewick Office For Sale

      Commercial office property available in Kennewick, Washington.
      4206 W 24Th Ave, Kennewick, WA 99338
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    • $375,000
      6.80 Acres

      Kennewick Residential Land Opportunity

      6+ acre residential lot in Badger Canyon, Kennewick.
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      View Details

    Similar Nearby for Lease

    • $9,000 /Mo
      8,000 SF

      Modern Industrial Space in Kennewick

      Premier industrial lease opportunity with warehouse and office space.
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      View Details
    • $18 SF/Yr

      Class A Office Space

      Class A office space in growing Southridge area.
      2555 S Quillan Pl, Kennewick, WA 99338
      View Details
    • $23 SF/Yr
      1,184 SF

      Modern Restaurant Space in Kennewick

      Restaurant space with modern build-out, high ceilings, and outdoor patio.
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      16 Acres Build-to-Suit Opportunity

      16 acres available for land lease or build-to-suit.
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    • Contact for pricing

      New Storage Facility in Kennewick

      New storage facility with easy access and security features.
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    Kennewick, WA 99338
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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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