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2920 George Washington Way 35,000 SF 100% Leased Office Building Richland, WA 99354 $5,950,000 ($170/SF) 7.80% Cap Rate
Investment Highlights
- Located in Research Park- near tech, research, and professional service companies
- Central Pacific Northwest location- easy reach to Washington & Oregon markets
- Growing population & economy Tri-Cities projected +7.5% population growth by 2029
- Columbia River proximity enhances location appeal
- Strong workforce availability- near universities & research labs (WSU Tri-Cities, PNNL)
- High median household income- and strong commercial demand
Executive Summary
Prime North Richland Location
Business Research Park (BRP) Zoning
Extensive Remodel in 2019/20
High-Quality Steel Construction
Ample Parking & Quick Interstate Access
Strong Tenant Appeal
Business Research Park (BRP) Zoning
Extensive Remodel in 2019/20
High-Quality Steel Construction
Ample Parking & Quick Interstate Access
Strong Tenant Appeal
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
35,000 SF
Building Class
B
Year Built
1976
Price
$5,950,000
Price Per SF
$170
Cap Rate
7.80%
NOI
$464,100
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
17,500 SF
Building FAR
0.43
Lot Size
1.88 AC
Zoning
B-RP - Business Research Park
Parking
145 Spaces (4.14 Spaces per 1,000 SF Leased)
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Property Taxes
| Parcel Numbers | Improvements Assessment | $2,190,030 | |
| Land Assessment | $319,000 | Total Assessment | $2,509,030 |
Property Taxes
Parcel Numbers
Land Assessment
$319,000
Improvements Assessment
$2,190,030
Total Assessment
$2,509,030
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2920 George Washington Way
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