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2800 W Clearwater Ave 14,820 SF Retail Building Kennewick, WA 99336 $5,748,290 CAD ($387.87 CAD/SF) 10.01% Cap Rate
Executive Summary
NEW 10% CAP RATE! High visibility corner Walgreens on busy Hwy 395 and Clearwater. Walgreens has ~ 5 years of term remaining before the next renewal. The tenant controls the space until 2031, but has its first termination option in 2031 and every 5 years afterwards. Rent is $414,999 with an additional percentage rent clause. The asking price is $4.15M or ~$280 per square foot. The asking cap rate is 10%. There is a drive thru for the pharmacy. The structure was built for Walgreens in 2006. Parking ratio is 4.18/1000 SF. Walgreens Corporate is pleased with this location and is committed to the lease long term. This property makes an excellent 1031 exchange.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
14,820 SF
Building Class
B
Year Built
2006
Price
$5,748,290 CAD
Price Per SF
$387.87 CAD
Cap Rate
10.01%
NOI
$575,383 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.72 AC
Zoning
General Merchandise
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 135993090003001 | Improvements Assessment | $2,942,190 CAD |
| Land Assessment | $530,944 CAD | Total Assessment | $3,473,134 CAD |
Property Taxes
Parcel Number
135993090003001
Land Assessment
$530,944 CAD
Improvements Assessment
$2,942,190 CAD
Total Assessment
$3,473,134 CAD
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2800 W Clearwater Ave
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