Office

CCH Executive Suites

1030 N Center Pkwy, Kennewick, WA 99336

Listing Price: $3,900,000

Cap Rate
7.68%
Gross SF
21,252
Rentable SF
21,252
Price/Gross SF
$183.51
Lot Size
1.33 acres
Year Built
2005

Investment Overview

Marcus & Millichap is pleased to offer for sale the CCH Executive Suites in Kennewick, Washington. Located at 1030 N Center Parkway, CCH Executive Suites is a 21,252 square foot office building built in 2005, is 100% leased, and operates as an executive suites business. The propertys executive suites business model offers investors a rare opportunity to own real estate with multiple streams of reliable revenue and limitless upside.

The property is currently collecting rent from forty tenants occupying the building, as well as another fifty tenants who do not physically occupy the building but still pay rent monthly. These tenants have access to the business resources made available within the building such as reception, VOIP, scheduling, printing, scanning and faxing, in addition to accessing the buildings conference rooms. These resources all come with additional cost to the tenants, allowing the tenants to control overhead for their operations and share essential costs with their neighboring businesses, while creating strong additional income for the property. The building receives lease payments from cellular telephone companies for the roof rights since 2015 and currently has two leases in place.

Located in the south-eastern region of Washington State and within Benton and Franklin counties, the Tri-Cities consist of Kennewick, Pasco and Richland. Together, they represent the states fastest growing market. Driven by the federal governments Hanford cleanup project and its $2.4 billion budget, the Tri-Cities now has a 3.6% growth rate largely due to partnerships with the government contractors such as Battelle, Bechtel National, Washington River Protection Solutions, Mission Support Alliance and CH2M. The combination of a strong local economy, along with its sunny climate and pristine scenery, the Tri-Cities has earned a reputation for providing a great quality of life for its ever-growing population.

Investment Highlights

  • 100% Physical Occupancy
  • 7.68% In-Place Cap Rate
  • Over 90 Leases In-Place
  • Located In Washington's Fastest Growing MSA
  • Executive Suites Model Provides Limitless Upside To Landlord

Exclusively Listed By

Listing Price: $3,900,000

Cap Rate
7.68%
Gross SF
21,252
Rentable SF
21,252
Price/Gross SF
$183.51
Lot Size
1.33 acres
Year Built
2005

Investment Highlights

  • 100% Physical Occupancy
  • 7.68% In-Place Cap Rate
  • Over 90 Leases In-Place
  • Located In Washington's Fastest Growing MSA
  • Executive Suites Model Provides Limitless Upside To Landlord

Investment Overview

Marcus & Millichap is pleased to offer for sale the CCH Executive Suites in Kennewick, Washington. Located at 1030 N Center Parkway, CCH Executive Suites is a 21,252 square foot office building built in 2005, is 100% leased, and operates as an executive suites business. The propertys executive suites business model offers investors a rare opportunity to own real estate with multiple streams of reliable revenue and limitless upside.

The property is currently collecting rent from forty tenants occupying the building, as well as another fifty tenants who do not physically occupy the building but still pay rent monthly. These tenants have access to the business resources made available within the building such as reception, VOIP, scheduling, printing, scanning and faxing, in addition to accessing the buildings conference rooms. These resources all come with additional cost to the tenants, allowing the tenants to control overhead for their operations and share essential costs with their neighboring businesses, while creating strong additional income for the property. The building receives lease payments from cellular telephone companies for the roof rights since 2015 and currently has two leases in place.

Located in the south-eastern region of Washington State and within Benton and Franklin counties, the Tri-Cities consist of Kennewick, Pasco and Richland. Together, they represent the states fastest growing market. Driven by the federal governments Hanford cleanup project and its $2.4 billion budget, the Tri-Cities now has a 3.6% growth rate largely due to partnerships with the government contractors such as Battelle, Bechtel National, Washington River Protection Solutions, Mission Support Alliance and CH2M. The combination of a strong local economy, along with its sunny climate and pristine scenery, the Tri-Cities has earned a reputation for providing a great quality of life for its ever-growing population.

Exclusively Listed By

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