4309 W 27th Pl - Medical FOR SALE


Kennewick, WA 99338
$5,100,000 USD
425-233-9522
4309 W 27th Pl, Kennewick, WA for Sale
$5,100,000 USD
Medical - FOR SALE
1/7
null | 7.07% Cap Rate

4309 W 27th Pl
Kennewick, WA 99338


HIGHLIGHTS

  • Fully Occupied NNN Medical Building with Diverse Tenant Mix
  • Attractive Seller Financing Available | 9.05% Cash-on-Cash Return
  • 61% Medical Occupancy with Specialized Buildouts
  • 100% NNN Lease Structure w/ Annual Rent Increases For Majority of Tenants
  • New Roof Installed in 2024 and Full Property Renovation
  • Class A Construction with Meticulous Maintenance

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$5,100,000 USD

PRICE/SF

$252 USD /SF

CAP RATE

7.07%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cynergy Centre

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

CC-City Commercial

APN/PARCEL ID

110893013335002

ASK ABOUT THIS PROPERTY

Trevor LaneMarcus & MillichapMore Info
425-233-9522

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Trevor LaneMarcus & MillichapMore Info
425-233-9522

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.