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3311 W Clearwater Ave 71,376 SF 100% Leased Office Building Kennewick, WA 99336 $7,300,000 ($102.28/SF) 6.75% Cap Rate
Executive Summary
Showcasing over 71,000 SF across three architecturally distinctive buildings, this established professional center occupies a prime location along one of
Kennewick’s main arterials. Set on nearly five acres with mature landscaping and abundant parking, the property combines timeless design with enduring
functionality. A diverse and stable tenant mix, including government agencies, nonprofits, salon suites, and boutique retail, has contributed to the center’s
consistent performance and long-term appeal. Legacy occupants such as the Washington Department of Licensing, Domestic Violence Services, and
Aging & Long Term Care of SE Washington underscore its institutional reliability. With current rents below market, this income-producing asset presents
investors with an exceptional opportunity to realize meaningful NOI growth through proactive marketing of vacancies, strategic lease renewals, and
thoughtful management optimization in one of the Tri-Cities’ most dynamic commercial corridors.
Kennewick’s main arterials. Set on nearly five acres with mature landscaping and abundant parking, the property combines timeless design with enduring
functionality. A diverse and stable tenant mix, including government agencies, nonprofits, salon suites, and boutique retail, has contributed to the center’s
consistent performance and long-term appeal. Legacy occupants such as the Washington Department of Licensing, Domestic Violence Services, and
Aging & Long Term Care of SE Washington underscore its institutional reliability. With current rents below market, this income-producing asset presents
investors with an exceptional opportunity to realize meaningful NOI growth through proactive marketing of vacancies, strategic lease renewals, and
thoughtful management optimization in one of the Tri-Cities’ most dynamic commercial corridors.
Property Facts Under Contract
Sale Type
Investment
Property Type
Office
Building Size
71,376 SF
Building Class
B
Year Built/Renovated
1977/2003
Price
$7,300,000
Price Per SF
$102.28
Cap Rate
6.75%
NOI
$492,750
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
35,688 SF
Building FAR
0.33
Lot Size
4.96 AC
Zoning
General Commercial
Parking
304 Spaces (4.26 Spaces per 1,000 SF Leased)
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Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 103891020005005 | Improvements Assessment | $6,101,600 |
| Land Assessment | $1,070,930 | Total Assessment | $7,172,530 |
Property Taxes
Parcel Number
103891020005005
Land Assessment
$1,070,930
Improvements Assessment
$6,101,600
Total Assessment
$7,172,530
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3311 W Clearwater Ave
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