8318 Gage BlvdKennewick, WA 99336

For Sale
$2,020,000

High-yield retail investment, 9,000 SF

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional retail investment opportunity presents a stabilized, multi-tenant storefront property located at 8318 W Gage Blvd, Kennewick, WA 99336. The 9,000 square foot building, constructed in 1977, sits on a 0.58-acre lot within Benton County's Commercial District (APN: 130994000013002). Currently boasting 100% occupancy with three tenants, this property generates a strong net operating income (NOI) of $121,168, resulting in a compelling 6.00% capitalization rate. The property's prime location near Columbia Center on Gage Blvd, across from Costco and Olive Garden, ensures high visibility and strong foot traffic. Its strategic position on Columbia Center Parkway, now extending to Tapteil, further enhances its accessibility and appeal. The flexible Commercial District zoning allows for diverse future uses, including potential owner-occupancy. Approximately 2,145 square feet could be owner-occupied, with a lease takeover option. The asking price is $2,020,000, translating to $224.44 per square foot. This is a rare opportunity to acquire a high-performing retail asset in a thriving Kennewick location. Please note that the property is fully leased, and tenants should not be disturbed.

Highlights

  • 6% Cap Rate Investment Opportunity
  • 2,145 SF owner-occupancy potential with lease takeover option
  • Excellent Kennewick location near Costco and Olive Garden, high visibility and traffic.

Property Details for 8318 Gage Blvd

Property type
Other retail properties, Individual retail properties
Square Feet
9,000 SF
Year Built
1977
Buildings
1
Lot Size (sq. ft)
25,265 SF
Units
3

Location Insight

City
Kennewick
County
Benton
State
Washington
Latitude
46.2283431
Longitude
-119.2320777
8318 Gage Blvd, Kennewick, Washington

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8318 Gage Blvd
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