Automotive Property with Office
For Sale
$385,000
111 N Frontage Rd, Wapato, WA 98951
COMMERCIAL - Wapato, WA
Property Size1,110 SF
Lot Size0.17 Acres
Price / SF$346.85
Days on Market170
Property Features for 111 N Frontage Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
M1 - Light Indus
Lot features
Fenced - Part, Paved Road
Directions
Use GPS
Subdivision
13L - Wapato
Standard status
Active
APN
19111034002
Size
1,110 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1205
Utilities
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private offices
lobby
cafeteria/breakroom
Building Details
Year built
1965
Flooring type
Tile
Building materials
Block
Roof type
Composition
Listing Agency:
eXp Realty LLC Kennewick
(888) 421-2531
Listed By:
Erik Soto · License #21010568
(808) 200-3677
Added: Feb 28
Changed: Aug 4
Last Checked: Aug 17 at 10:06PM
MLS# 26-497
Copyright © 2026 Yakima Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,110-square-foot automotive property at 111 N Frontage Rd includes four private offices, a lobby, and a cafeteria/breakroom. The current car-lot operation is supported by a compact commercial building with a practical office-oriented layout.
The property sits directly off the highway in Wapato, providing highway access and street presence. Building features include block construction, tile flooring, central air, electric and forced-air heating, public water, and a composition roof. Built in 1965, the property occupies a 0.17-acre site.
The property sits directly off the highway in Wapato, providing highway access and street presence. Building features include block construction, tile flooring, central air, electric and forced-air heating, public water, and a composition roof. Built in 1965, the property occupies a 0.17-acre site.
Key Highlights
- 1,110‑square‑foot automotive property on a 0.17‑acre site
- Current car‑lot operation with direct highway access
- Four private office spaces plus a lobby
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$236,320
$236.3K
Cap Rate 7%
$168,800
$168.8K
Cap Rate 9%
$131,289
$131.3K
Market Conditions
NOI Build-Up for 1,110 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.9K $15.24/SF
− Vacancy
−$1.2K −$1.05/SF
EGI
$15.8K $14.19/SF
− OpEx
−$3.9K −$3.55/SF
NOI
$11.8K $10.64/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$236,320
Cap Rate 7%
$168,800
Cap Rate 9%
$131,289
Alternative Uses
Best Use
Office B
$168.8K
$147.7K – $196.9K
NOI $11,816 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$160.8K
$140.7K – $187.6K
NOI $11,255 @ 7.0% cap · market cap 2.92%
Theoretical Best
Office A
$225.4K
$197.2K – $263.0K
NOI $15,779 @ 7.0% cap · market cap 4.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
244
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98951, WA
13,821
Population
3,672
Households
3.8
Avg Household Size
30
Median Age
11%
College-Educated
66%
High-School Grad
149.0 sq mi
ZIP Area
93
Density / Sq Mi
$63,083
Median Household Income
$33,141
Median Earnings
$871
Median Rent
$214,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Automotive property - Current car-lot use includes private offices, a lobby, and a breakroom.
Where is this automotive property located?
The property is located at 111 N Frontage Rd Wapato, WA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 1,110‑square‑foot automotive property on a 0.17‑acre site; Current car‑lot operation with direct highway access; Four private office spaces plus a lobby
