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Kennewick Village

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Kennewick Village

101 Vista Way, Kennewick, WA 99336
Retail For Sale Available Built 1950 2 floors Zoning: GC
Asking Price
$10,000,000
Total Building82,864 SF
Available82,864 SF avail
Land226,076 SF land
MarketBenton County
CountyBenton

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Overview

Property ID
305476
Listing ID
704879
Type
Retail
Asset Class
Retail
Zoning
GC

Description

We have been selected to exclusively market for sale Kennewick Village, a value-add retail shopping center located in rapidly growing Kennewick, WA. The property is 99% occupied and is spread across 11 tax parcels in four sections along Hwy 395, Vista Way, and W Bruneau Pl. Over 51% of the GLA of the property is operating on month-to-month Modified Gross leases with the majority of remaining tenants operating on short-term leases with no options. The average base rent at the property is currently $11.23/SF MG, with market rents achievable in the $13-$15/SF NNN range, providing an investor with the opportunity to increase their cap rate to above a 10% cap rate through rent increases and converting lease types to NNN. The Seller is willing to provide attractive seller financing at a 4.00% in

Listing Courtesy of:

CB
Clayton Brown
Marcus & Millichap, Inc.
401 Union Street, 32nd fl,
Seattle, WA 98101
State: WA City: Kennewick ZIP: 99336 Type: For Sale

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Disclaimer: The information contained in this listing has not been verified by Muljat Commercial and should be verified by the buyer.