8382 W Gage Blvd Kennewick, WA 99336

Property Details for 8382 W Gage Blvd

Year built

1975

Construction

WOOD

Lot size

1.43 lot acres

Property size

20,000 SF

Property type

Commercial real estate

APN

130994000013006

APU

130994000013006

Description

This exceptional Kennewick, WA, office building presents a compelling investment opportunity. Located at 8382 W Gage Blvd, this single-story, 18,930 square foot Class B building boasts 100% occupancy with 12 tenants under a modified lease structure, all credit-rated. The property features 13 individual office spaces, providing flexibility for diverse tenants. Built in 1975, the building has been meticulously maintained, showcasing updated interior and exterior finishes. Ample parking is available with 86 spaces on the 1.46-acre lot. The property generates a strong NOI of $270,247, resulting in a 6.84% cap rate. The asking price is $2,850,000 ($150.55/sq ft). Annual rent bumps are in place. Benefitting from its location near major retail chains and high daily traffic counts exceeding 26,000, this property offers exceptional visibility and strong cash flow. The sale includes the entire building and is a sale by owner transaction. Occupancy date is October 18, 2023. This is a rare opportunity to acquire a well-maintained, high-performing office building in a prime Kennewick location. The property is zoned for office use and is not subject to a ground lease.

Location Insight

City

Kennewick

County

Benton

State

Washington

Longitude

-119.233

Latitude

46.2284

CBSA code

28420

CBSA name

KENNEWICK-RICHLAND-PASCO, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments