Kennewick, Washington offers a diverse range of retail properties for sale, making it an attractive investment opportunity for those looking to capitalize on the city's growing economy. With a strong presence of major employers such as Lamb Weston and Tyson Foods, Kennewick's retail sector is well-positioned to benefit from the city's diverse industries. Retail properties in Kennewick can represent a variety of investments, from single-tenant buildings to larger shopping centers, offering a range of options for investors. The city's amenities, including the Columbia Center Mall, and its proximity to major transportation routes, such as SR 240 and US 395, make it an ideal location for retail businesses. Additionally, Kennewick's semi-arid climate and scenic views of the Columbia River make it an attractive destination for tourists and locals alike, with popular attractions like Clover Island and the Ice Harbor Brewing Company. With a population of around 80,000, Kennewick offers a stable customer base for retail businesses, and its growing economy makes it an exciting opportunity for investors.
Kennewick's retail properties are situated in a prime location, with nearby shopping centers, restaurants, office properties, and hotels. The city's shopping centers, such as the Columbia Center Mall, offer a range of retail options, from department stores to specialty shops. Restaurants in Kennewick cater to a variety of tastes, from casual dining to fine cuisine. Office properties in the city are home to a range of businesses, from healthcare providers to technology companies. Hotels in Kennewick, such as those on Clover Island, offer scenic views and convenient access to the city's amenities. With 14 retail properties for sale in Kennewick, investors have a range of options to choose from, with average prices per square foot of $139 USD and average sizes of 29,597 square feet. The largest retail property available is 94,555 square feet, offering ample space for a variety of retail businesses. With an average cap rate of 6.36%, Kennewick's retail properties offer a stable investment opportunity in a growing economy.
What is the average cap rate for retail properties in Kennewick?
When it comes to retail properties in Kennewick, investors can expect an average cap rate of 6.36%, which is a key metric to consider when evaluating the potential return on investment. To learn more about how cap rates work and what they mean for your investment strategy, check out our article on what is a cap rate, which provides a comprehensive overview of this important concept.
How do location and foot traffic affect retail property values?
In Kennewick, Washington, location and foot traffic play a significant role in determining retail property values. Properties situated in high-traffic areas, such as the Columbia Center Mall, which attracts shoppers from a significant portion of southeast Washington and northeast Oregon, tend to have higher values due to increased visibility and potential for revenue generation, whereas those in less trafficked areas may have lower values.
