3601 Plaza WayKennewick, WA 99338

For Sale
$3,039,688

Kennewick, WA: NNN Lease, High Growth Area

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional Kennewick, WA retail property offers a compelling investment opportunity. Anchored by a BestMed Urgent Care, a subsidiary of Community Care Partners LLC, operating over 90 urgent care centers across multiple states, this 6,297 square foot, Class A building sits on a 0.95-acre lot with 46 parking spaces. The 15-year NNN lease, commencing August 1, 2023, includes a corporate guarantee and 2% annual rent bumps. Currently 50% occupied, the remaining 3,087 square feet offers significant value-add potential. The property boasts a strong pro-forma cap rate of 7.61% and a current NOI of $174,782, with a pro-forma NOI of $264,714. Located at 3601 Plaza Way, Kennewick, WA 99338, in the high-demand Southridge Medical Submarket, this property benefits from high visibility and accessibility. Built in 2023, it features a single story and is zoned for commercial community use. The asking price is $3,039,688, representing a price per square foot of $482.72. The lease includes two 5-year renewal options. This is a fee simple ownership opportunity with significant upside potential. The property's prime location, strong tenant, and value-add potential make it an attractive investment for discerning buyers.

Highlights

  • Strong, creditworthy urgent care tenant anchors the property, ensuring stable long-term occupancy.
  • Located in the affluent Southridge Medical Submarket, providing a high-spending consumer base.
  • High visibility on US Hwy 395 with easy access to the Tri-Cities market, maximizing tenant exposure.
  • 3,087 square foot vacant space offers significant value-add potential for lease-up or owner-occupancy.

Property Details for 3601 Plaza Way

Property type
Lifestyle centers, Power centers
Square Feet
6,297 SF
Class
A
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
41,382 SF

Location Insight

City
Kennewick
County
Benton
State
Washington
Latitude
46.177640014368
Longitude
-119.18827041249
3601 Plaza Way, Kennewick, Washington

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3601 Plaza Way
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