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    Property profile & analytics

    6494 W Skagit Ave, Unit 160 Kennewick, WA 99336

    • Turn key restaurants
    • 4,203 SF
    • 0.70 lot acres
    For Sale
    View listing
    $1,500
    Last Sale
    Apr 02, 2020
    $259,236
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2754018
    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

    • 1derful Food Park / Family Restaurant
    • 1derful K-BBQ / Chicken Wings Restaurant / Asian Restaurant

    Property Details for 6494 W Skagit Ave

    Year built
    2022
    Lot size
    0.70 lot acres
    Property size
    4,203 SF
    Property type
    Turn key restaurants
    APN
    132991020001011
    APU
    132991020001011

    Description

    This vibrant 4,200 square foot retail plaza, built in 2022, offers multiple tenancy options in the heart of Kennewick's bustling Colonnade Shopping Center. Currently, 2,400 square feet of prime retail space is available, with individual suites ranging from 400 to 800 contiguous square feet, perfect for restaurants, wine bars, or other retail businesses. The property boasts a convenient walk-up window system, a shared indoor space with restrooms for year-round comfort, and ample on-site parking, complemented by convenient cross-street parking. Located at a high-traffic intersection of Kellogg St. and Canal Dr., this property benefits from exceptional visibility and accessibility. The 0.7-acre lot is zoned Commercial Regional, providing flexibility for a variety of uses. The modern building offers a unique urban outdoor setting, creating an attractive environment for both tenants and customers. This is an exceptional opportunity to establish a business in a thriving retail hub within Benton County. The property's design allows for tenant customization, ensuring a space perfectly tailored to individual business needs. Don't miss this chance to secure your place in this dynamic and successful retail center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $395,000
      ML approach
      $360,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $469,000
      Market price range: $296k - $760k

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

    Location Insight

    • Map
    • Local Demand
    City
    Kennewick
    County
    Benton
    State
    Washington
    Longitude
    -119.209
    Latitude
    46.2257
    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
    $276,590
    $692,260
    $968,850
    -
    $276,590
    $692,260
    $968,850

    Comparable in this City

    • Value Estimation
      $330,000
      7,786 SF

      2721 Kennewick Ave

      RESTAURANT • 7,786 SF
      2721 Kennewick Ave, Kennewick, WA 99336-3122
      View Details
    • Value Estimation
      $430,000
      8,430 SF

      1120 Columbia Ctr Blvd

      RESTAURANT • 8,430 SF
      1120 Columbia Ctr Blvd, Kennewick, WA 99336-1161
      View Details
    • Value Estimation
      $345,000
      6,988 SF

      835 Columbia Ctr

      RESTAURANT • 6,988 SF
      835 Columbia Ctr, Kennewick, WA 99336
      View Details
    • Value Estimation
      $470,000
      6,259 SF

      6819 Canal Dr

      RESTAURANT • 6,259 SF
      6819 Canal Dr, Kennewick, WA 99336-7673
      View Details
    • Value Estimation by Request

      1026 Colorado St

      RESTAURANT
      1026 Colorado St, Kennewick, WA 99336-7618
      View Details
    • Value Estimation by Request

      425 Bruneau Ave

      RESTAURANT
      425 Bruneau Ave, Kennewick, WA 99336-3726
      View Details

    Similar Nearby for Sale

    • $1,099,000
      2,746 SF

      Established Restaurant Near Downtown Kennewick

      Established restaurant near downtown Kennewick with a healthy customer base.
      808 W Vineyard Dr, Kennewick, WA 99336
      View Details
    • $360,000
      2,500 SF

      Established Restaurant with Liquor License

      Turn-key restaurant centrally located in Tri-Cities, established for 8 years.
      1360 N Louisiana St, Kennewick, WA 99336
      View Details
    • $2,100,000
      0.53 Acres

      Kennewick Restaurant For Sale

      Restaurant property for sale in Kennewick, Washington.
      7000 Okanogan Pl, Kennewick, WA 99336
      View Details
    • $2,575,000
      7,396 SF

      NNN Leased Restaurant Investment

      NNN leased restaurant in a prime retail corridor.
      8110 W Gage Blvd, Kennewick, WA 99336
      View Details
    • $1,600,000
      5,649 SF

      Free-Standing Building with Highway Exposure

      High-visibility commercial building with 50+ parking stalls and outdoor patio.
      2100 N Belfair St, Kennewick, WA 99336
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    • $860,000
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      Kennewick Drive-Thru Retail Space

      Prime Kennewick location, vacant bank, drive-thru.
      138 Vista Way, Kennewick, WA 99336
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      4,476 SF

      Former Pizza Hut Retail Space

      Turn-key restaurant space with high visibility and ample parking.
      1915 North Steptoe St, 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
    • $26 SF/Yr
      11,880 SF

      Kennewick Office Space for Lease

      New Construction, Flexible Suites Available
      7034 Clearwater Ave, Kennewick, WA 99336
      View Details
    • $29 SF/Yr
      2,900 SF

      Retail Space on Columbia Center

      2,900 SF retail space with high traffic exposure.
      1022 N Columbia Center Blvd, Kennewick, WA 99336
      View Details
    • $5,000 /Mo
      5,300 SF

      Restaurant/Event Space in Midtown Plaza

      Restaurant or event center space available in Kennewick, Washington.
      2203 W 4Th Ave, Kennewick, WA 99336
      View Details
    • Contact for pricing

      Clearwater Avenue Pad Site

      Land lease opportunity on Clearwater, ideal for drive-through or coffee.
      8504 W Clearwater Ave, Kennewick, WA 99336
      View Details
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    6494 W Skagit Ave, Unit 160
    Kennewick, WA 99336
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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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