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Property profile & analytics
FOR SALE
Office buildings
507 Knight St Richland, WA 99352
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-1705756
For Sale
1 / 48
$1,595,000
507 Knight St, Richland, WA 99352
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1944
Construction
CONCRETE
Total area
7,280 SF
Lot
0.23 ac (9,862 SF)
APN
111983020627010
UPID
US90-1705756
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
-
Larsen Chiropractic: Brian Larsen, DC Alternative Medicine Practice
-
The Everyday Athlete - Chiropractic - Rehab - Manual Therapy Alternative Medicine Practice
-
Your Choice Cooling & Heating HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.84M
Comparable Approach
Comparable
$1.35M
Blend (final)
Blend
$1.60M
Owner & transaction history
Damion D Lalka · 1 yrs held
Damion D Lalka
since 2024
Last sale
$1.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.8M
+10.8%
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 Richland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richland 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%
$1,985,000
6.5%
$1,835,000
7%
$1,705,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,635,000
Current use
RESTAURANT
$1,810,000
Change: +11% · Conversion: Moderate
RETAIL STORES
$1,330,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$1.60M
Range $1.44M – $1.75M · ±10% · vs last sale $1.60M (Apr 26 2024)
Last sale anchor
$1.60M
Apr 26 2024
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
$219 / 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
$1,017,320
Assessed 2023
Previous assessed
$1,012,970
+0.4% YoY
Assessed land
$91,360
Assessed improvement
$925,960
Land market value
$91,360
Improvement market value
$925,960
Total market value
$1,017,320
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
1944
Construction
CONCRETE
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
7,280 SF
Lot
0.23 ac (9,862 SF)
APN
111983020627010
UPID
US90-1705756
Jurisdiction
BENTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.6M
RESTAURANT
Est. value
$1.8M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
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
1944
Construction
CONCRETE
Heating
YES
Cooling
Yes
Stories
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Damion D Lalka
Individual
Mailing address
507 KNIGHT ST, RICHLAND, WA 99352-4258
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2024
$1,600,000
Damion D Lalka
507 Knight LLC
Warranty Deed
$1,200,000 · Washington Federal NA
Feb 10, 2020
—
507 Knight LLC
—
Deed
related
$50,000 · Numerica Cu
Oct 31, 2019
$1,100,000
507 Knight LLC
P Craig Walker
Warranty Deed
$825,000 · Numerica Cu
Jan 4, 2019
—
Peter P Moore
507 Knight Street LLC
Quit Claim Deed
related
—
Jan 3, 2019
—
P Craig Walker
507 Knight Street LLC
Quit Claim Deed
related
—
Jun 15, 2012
—
507 Knight Street LLC
Reklaw Investments LLC
Quit Claim Deed
related
—
May 16, 2012
—
507 Knight Street LLC
Walker,p Craig
Quit Claim Deed
related
—
Nov 17, 2006
—
P Craig Walker
Walker,debra K
Quit Claim Deed
related
—
May 1, 2006
—
Peter P Moore
Moore,deborah A
Quit Claim Deed
related
—
—
—
507 Knight LLC
—
Deed Of Trust
related
$50,000 · Numerica Cu
—
—
P Craig Walker
—
Deed Of Trust
related
$40,000 · Debra Walker
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.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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