For Sale
$4,170,000

1030 Center PkwyKennewick, WA 99336

Kennewick, WA Office Building Investment

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional Kennewick, WA, investment opportunity presents a three-story, 21,321-square-foot office building, constructed in 2005, situated on a 1.33-acre lot. Currently housing 66 executive suites with 92% occupancy, the property boasts a strong NOI of $354,521 (with a pro-forma NOI of $367,935) and an 8.5% cap rate (pro-forma 8.82%). The asking price is $4,170,000, translating to $339.80 per square foot and $63,182 per unit. The building features a Net NNN lease structure and provides ample parking (79 spaces per 1,000 sq ft). The property is zoned CC - Commercial Community and benefits from a strong tenant base with flexible lease terms and additional revenue streams from services such as reception, VoIP, and administrative support. A significant upside potential exists through the sale of an existing cell tower offer for $1.2 million. Benton County's population growth of 12.3% since the last census further supports the property's long-term value. The property's location at 1030 N Center Pkwy, Kennewick, WA 99336, offers excellent visibility and accessibility. The land value is $71.97 per square foot. This multi-tenant building presents a compelling investment opportunity with significant potential for future growth.

Highlights

  • Flexible office lease terms and robust building amenities.
  • Value-added services including reception, VoIP, scheduling, printing, scanning, and faxing boost revenue.
  • Experienced on-site property management team.
  • Virtual tenant services—addressing, mail handling, administrative support, and meeting rooms—generate significant revenue potential.
  • Strong tenant demand driven by 12.3% Benton County population growth since the last census.
  • $1.2 million offer received for the existing cell tower.

Property Details for 1030 Center Pkwy

Property type
Office properties, Office space
Square Feet
12,272 SF
Year Built
2005
Buildings
1
Stories
3
Lot Size (sq. ft)
57,935 SF
Units
66

Location Insight

City
Kennewick
County
Benton
State
Washington
Latitude
46.2218511
Longitude
-119.2301733
1030 Center Pkwy, Kennewick, Washington

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1030 Center Pkwy
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