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