$10,016,000
585 Gage BlvdRichland, WA 99352
Medical building (from the listing description) · MLS 12049772 · Listed 4 days ago (Oct 30, 2026)
Active: Listed and available according to the MyStateMLS feed.
Other listings at this address
Separate MyStateMLS listings with exactly the same street address. Each is its own offer with its own listing representative; spaces are not assumed to be contiguous or combinable.
| Listing | Offer | Size | Price or rate | Listed by |
|---|---|---|---|---|
| This listing (viewing) | For sale | 2.68 acres | $10,016,000 | Pearl Realty, LLC |
| MLS 12049764 | For sale | 1.41 acres | $5,016,000 | Pearl Realty, LLC |
About this property
Rare opportunity to acquire a two-property Walgreens investment portfolio featuring a top-tier, high-performing pharmacy location in Richland and a dominant regional retail location in Clarkston, Washington. The Richland property is classified as a Tier 5 Walgreens store, demonstrating exceptional sales performance with the last reported annual front-of-store revenue reaching $5.05 million, excluding pharmacy sales. Together, these strategically positioned assets generate $701,040 in combined annual rental income at an attractive blended cap rate of approximately 7%, with approximately 9 years of firm lease term remaining at each location. Both properties feature landlord-friendly NNN lease structures, offering predictable income and long-term investment potential. The Richland property occupies a prominent corner at the intersection of Gage Boulevard and Leslie Road, directly across the street from a medical center, creating valuable synergy between healthcare services, pharmacy operations, and surrounding retail. Positioned within South Richland's established commercial corridor, the location benefits from excellent visibility, convenient accessibility, and a strong concentration of residential neighborhoods, shopping centers, restaurants, and professional services. Serving the thriving Tri-Cities metropolitan area with a regional population exceeding 320,000 residents, the property is supported by major employment centers, including Pacific Northwest National Laboratory, Hanford Site operations, and a robust healthcare, technology, and manufacturing sector. Generating $326,040 in annual rental income at a 6.5% individual cap rate, the lease features twelve additional five-year renewal periods and scheduled 5% rental increases, providing built-in income growth and significant long-term occupancy potential. The Clarkston property, constructed in 2015, features a 14,550-square-foot freestanding Walgreens situated on a highly visible, signalized hard corner along Bridge Street (US Route 12), immediately adjacent to Costco Wholesale and Walmart Supercenter. Strategically positioned at the gateway to one of the region's dominant retail corridors, this irreplaceable location benefits from exceptional regional draw, including consumers traveling from a 1.5-hour radius to visit the area's only Costco, with the next closest location nearly 90 miles away. Serving the broader Lewiston-Clarkston bi-state market, the property generates $375,000 in annual rental income at a 7.5% individual cap rate, with approximately 8.5 years remaining before Walgreens' initial termination option. Its proximity to major national retailers, strong regional accessibility, and established commercial surroundings reinforce its long-term retail relevance. Further enhancing the portfolio's investment appeal, both properties are located in Washington, a state with no general personal income tax, and benefit from diverse regional economies, strong transportation networks, and established consumer demand. The Richland location's exceptional reported sales performance, proximity to medical services, and contractual rental growth complement Clarkston's dominant retail positioning, national retailer synergy, and expansive regional trade area. With $701,040 in combined annual rental income, established national tenancy, favorable lease structures, and two strategically positioned commercial assets, this portfolio represents a compelling opportunity for investors seeking dependable cash flow, geographic diversification, and long-term investment value.
Description provided by the listing brokerage.
Key facts
- Asking price
- $10,016,000
- Status
- For sale
- Property type
- MedicalFrom the listing description
- Land area
- 2.68 acresSource field LotSizeAcres
- Year built
- 2005
- MLS number
- 12049772
Facts are reported by the listing brokerage. Items not listed were not provided; that does not mean the property lacks them or that they are zero.
Price
- Asking price
- $10,016,000
Building and site
- County
- Benton County
Reported features
- Corner location (from the description)“…a highly visible, signalized hard corner along bridge street (us route…”
A mention is not a specification. Confirm power, clear height, doors, parking and code compliance for your use with the listing representative and your own advisers.
Location
The pin is the listing's reported coordinates and may be approximate. It is not a parcel boundary or survey and says nothing about access rights, easements or flood zones. See more listings in Richland or medical building in Richland.
Why this listing is on Commercial Only
- Property type as the listing describes it. (description: "…road, directly across the street from a medical center, creating valuable synergy between heal…")
- MLS property class detail. (PropertyTypeDetail: comm-building)
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Price and status history
Changes observed by Commercial Only in MyStateMLS data since Nov 3, 2026. This is not a public-record sales or lease history.
Guides
Listing courtesy of Pearl Realty, LLC. Listing agent: Joel Pearl. Listings provided by MyStateMLS.
Listing last modified at the source Oct 30, 2026, 5:06 PM UTC. Commercial Only last confirmed MyStateMLS data Nov 3, 2026, 11:01 PM UTC. Information is deemed reliable but not guaranteed; verify all details with the listing representative.