At Home — Sale in Kennewick, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Kennewick, WA 99336

Photos

At Home — Sale in Kennewick, WA, photo 1 of 2
At Home — Sale in Kennewick, WA, photo 2 of 2

Investment Figures

Cap rate
7.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap has been selected to exclusively market for sale the #1 At Home in the Pacific Northwest located in Kennewick, WA. This location ranks #1 among At Home stores in the Pacific Northwest and in the top 4% of all Furniture/Home Stores nationwide per Placer.ai, with over 221,000 annual visits. The property is secured by an absolute net lease with zero landlord responsibilities, guaranteed by At Home Stores, LLC, operating 229+ locations across 39 states. The seller is currently in discussions with At Home to extend the lease early for an additional five years, bringing the firm term to 8+ years. At Home is paying $6.21/SF NNN — well below estimated market rents of $15.00–$25.00/SF — and the property is offered at $83/SF compared to CoStar-estimated values of $118+/SF for similarly sized retail, providing an attractive entry basis with significant upside. The tenant invested $4.2M of its own funds in property renovations in 2019, including exterior and interior remodel, parking lot, and utility upgrades. Strategically located along Columbia Center Boulevard — the Tri-Cities' primary retail corridor with 26,000+ VPD — the property is adjacent to Columbia Center Mall, the largest regional mall within a 150-mile radius, and surrounded by 200+ retailers within three miles including Target, Lowe's, TJ Maxx, Burlington, HomeGoods, and Kohl's. The surrounding trade area supports approximately 160,000 residents within five miles, average household incomes exceeding $109,000, and nearly 8% population growth over the past five years. Washington's lack of state income tax further enhances after-tax returns. Investment Highlights: • Pending Early 5-Year Lease Extension • #1 At Home In the Pacific Northwest | Top 4% Ranked Nationally (Placer.ai) • Absolute Net Lease With Corporate Guaranty (229+ Locations) • Significantly Below Market Rent & Attractive Basis • $4.2M Property Renovation • Strong Retail Trade Area • Strong, Growing, Affluent Demographics • Income Tax

Market Context

This retail in Kennewick, WA is listed for sale. It is offered at an approximate 7.5% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Kennewick, WA — view the full market.

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