1030 Center PkwyKennewick, WA 99336

Property Details for 1030 Center Pkwy

Property type

Commercial real estate

APN

30PC13890000000

APU

30PC13890000000

Description

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.

Location Insight

City

Kennewick

County

Benton

State

Washington

Latitude

46.2216

Longitude

-119.23

CBSA code

28420

CBSA name

KENNEWICK-RICHLAND-PASCO, WA METROPOLITAN STATISTICAL AREA

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