Bradley Riverfront Site
A rare and extraordinary development opportunity in Richland's Riverfront district, offering direct access to the Columbia River and scenic Bradley Boulevard, with potential for up to 47 units.
Prime Columbia Riverfront Location
Located in the heart of Richland, WA, within three miles of 7 of the top 10 employers in the Tri-Cities area, with walkability to retail centers and recreational amenities.
Strong Market Fundamentals
The Tri-Cities region is one of Washington's fastest-growing metro areas, with a 1.15% population growth and 2.9% average rent growth, supported by healthcare, technology, and energy sectors.
Flexible Development Potential
Zoned for mixed-use or high-density residential development, the site can accommodate up to 47 units with 851 SF per unit, ideal for multifamily, townhomes, or commercial projects.
Downtown Richland Growth
Situated in a growing downtown corridor, benefiting from Richland's urban development and revitalization efforts, with strong lease-up performance and rent growth in nearby projects.
Offering Details
Offered at $900,000, the Bradley Riverfront Site offers a prime development opportunity in Richland's Riverfront district. With potential for 47 units and direct access to the Columbia River, this site presents a unique chance to create a modern residential community in a thriving market.
Access DocumentsSite Summary
Type
Development Site
Address
470 Bradley Blvd
City, State, ZIP
Richland, WA 99352
Units
47
# Buildings
1
Building Area
39,000 SF
Land Area
1.08 Acre / 47,086 SF
Year Built
Development Site
Pricing Summary
List Price
$900,000
Price / Unit
$19,149
Price / SF
$19.11
Current CAP Rate
N/A
Proforma CAP Rate
N/A
The Opportunity
Prime Riverfront
Development Site
470 Bradley Blvd, a vacant site nestled in the heart of Richland's waterfront district, presents a rare and extraordinary development opportunity. Zoned for multifamily development, the property boasts direct access to the Columbia River and scenic Bradley Boulevard, offering unparalleled views, a tranquil setting, and prime walkability to an array of restaurants, retail, and outdoor recreation.
With the potential to build up to 47 units, this site is perfectly positioned to meet the high demand for upscale housing in this thriving market. Its proximity to Richland's vibrant downtown and expanding employment centers ensures strong tenant demand and long-term value appreciation.
This site provides the perfect opportunity to create a modern, highly desirable residential community that caters to professionals, retirees, and outdoor enthusiasts drawn to Richland's coveted waterfront lifestyle.
The Location
Central Richland location with proximity to major employers
429.897.587.985Photographs
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Market Overview
Tri-Cities, WA
Centrally located between four major metros in the Pacific Northwest, the Tri-Cities boasts a strong and diverse economy that is home to major research and development employers, three medical centers, several agricultural giants, and a booming wine industry.
The Tri-Cities population has grown to 305,338 which is +59% growth since 2000. The diverse terrain, Columbia River, mild climate, and regional amenities are some of the reasons the Tri-Cities is considered one of the best places to live in the country—ranking as the 9th Best Place to Raise Kids and 2nd Best Places to Retire.
The Tri-Cities is home to major research and development employers such as Battelle, Pacific Northwest National Laboratories (PNNL), and Bechtel National. In addition, the Tri-Cities is home to Kadlec, a regional medical center, as well as two other local hospitals.
Reasons To Invest Here
- 2.9%
Average rent growth
(Last 5 years)
- 92.0%
Average occupancy
(Q1 2022)
- 147k
Labor Force
(Tri-Cities Region)
- 11.91%
HH Income Growth
(Since 2020)
- 47
Buildable Units
(Proposed Development)
- $19,149
Price per Unit
(Development Cost)
- $92.5k
Median HH Income
(Tri-Cities Region)
- 319k
Population
(Tri-Cities Region)
Our Team
Multifamily Mason
Multifamily Mason is a brokerage firm specializing in multifamily property sales and advisory services within the Inland Northwest. We uphold the core values of integrity, mastery, and ownership. These principles guide all our business decisions and interactions with our clients, investors, and stakeholders.
Our extensive market knowledge, in-depth data analysis, valuable insights, and strong industry relationships have established us as trusted advisors and a go-to source for those exploring the Inland Northwest markets or investing in multifamily properties within tertiary markets.
We foster long-term relationships and prioritize our clients' best interests, even if it means delaying immediate deals. We believe in collaboration and creating opportunities for mutual success, including working with potential competitors.
Lead Broker
Mason Fiascone
Mason is the founder of Multifamily Mason and specializes in the sale and advisory services of multifamily properties across the Inland Northwest with a specific focus on Central Washington and Tri-Cities. Mason leads the sales and asset management organizations at Multifamily Mason, meaning he partners with owners, investors, and developers seeking to maximize their property returns, bringing valuable expertise to every interaction. He is committed to building long-term relationships by providing clients with market insights and unique deal opportunities.
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