Kennewick Office for Sale
The Brown Group of Marcus & Millichap has been selected to exclusively market for sale Cynergy Centre, a stabilized, 100% occupied Class A NNN medical building in the high-growth Tri-Cities market. The property is fully leased to a diverse mix of healthcare, financial services, personal care, and retail tenants, with medical uses comprising 61% of the GLA across physical medicine and rehabilitation, women's health, dermatology, and hospice care. The Seller is offering attractive seller financing at 3.75% interest, resulting in a 9.05% cash-on-cash return in Year 1 of new ownership. Specialized medical buildouts reinforce long-term tenant retention, and nine of eleven tenants feature 2.5%–3% annual rent escalations through initial terms and options. All tenants operate on NNN leases with full expense reimbursement, including management fees. The property has undergone extensive renovations since 2020, including a new roof in February 2024 with a 20-year transferable warranty, full suite upgrades, HVAC replacements and repairs, exterior paint, and parking lot improvements. Situated at the roundabout of W 27th Ave and S Union St (24,000+ VPD), just off Hwy 395 (22,000+ VPD), the property offers excellent visibility and access from major arterials serving the greater Tri-Cities. The Kennewick-Richland office market is supply-constrained with a 2.1% vacancy rate for Class A product and a 3.1% average annual rent growth over five years. The broader trade area supports over 128,000 residents within five miles, average household incomes exceeding $97,000, and over 27% population growth since 2010. Washington's lack of state income tax further enhances after-tax returns.
