Two-Story Office
New
For Sale
$315,000
3805 W Tieton Dr, Yakima, WA 98902
COMMERCIAL - Yakima, WA
Property Size1,509 SF
Lot Size0.23 Acres
Price / SF$208.75
Days on Market4
Property Features for 3805 W Tieton Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B1 - Prof Bus
Lot features
Fenced Back, Level, Bus Line, Sprinkler System, Sprinkler Full, Paved Road
Directions
West on Tieton Drive to property on the right, just East of the Veteranary Office.
Subdivision
3B - Btwn S 16th/40th
Standard status
Active
APN
181322-43023
Size
1,509 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2544
Utilities
Heating system
Forced Air, Natural Gas
Water source
Public
Amenities
fenced backyard
patio
updated kitchen
updated bathroom
Building Details
Year built
1950
Flooring type
Carpet, Tile
Building materials
Block
Roof type
Composition
Listing Agency:
Keller Williams Yakima Valley · Keller Williams Realty
(509) 966-1020
Listed By:
Lanette Headley
(509) 949-2192
Added: Aug 17
Changed: Aug 18
Last Checked: Aug 20 at 2:06PM
MLS# 26-2509
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 two-story block office property contains approximately 1,509 SF, with 1,009 SF on the main level and approximately 500 SF upstairs. The interior includes two established office areas, an updated kitchen with appliances, an updated bathroom, newer floor coverings, and some brand-new/vinyl windows. Gas forced-air heat, public water and sewer, and irrigation water through the Walnut Water Users Association serve the property. The upper floor can accommodate additional office, meeting, storage, or related business space.
Positioned along West Tieton Drive in Yakima, the building fronts a busy four-lane arterial and offers access to surrounding businesses and services. The 0.23-acre front lot may be converted to additional off-street parking, subject to verification of parking requirements and development options with the City of Yakima. A fenced rear yard with patio space adds usable exterior area.
Positioned along West Tieton Drive in Yakima, the building fronts a busy four-lane arterial and offers access to surrounding businesses and services. The 0.23-acre front lot may be converted to additional off-street parking, subject to verification of parking requirements and development options with the City of Yakima. A fenced rear yard with patio space adds usable exterior area.
Key Highlights
- B‑1 Professional Business zoning
- Approximately 1,509 SF across two levels: 1,009 SF main level and approximately 500 SF upper level
- 0.23‑acre lot at 3805 W Tieton Dr, Yakima, WA 98902
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
$16,063
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
5.10%
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%
$321,260
$321.3K
Cap Rate 7%
$229,471
$229.5K
Cap Rate 9%
$178,478
$178.5K
Market Conditions
NOI Build-Up for 1,509 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
$23.0K $15.24/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$21.4K $14.19/SF
− OpEx
−$5.4K −$3.55/SF
NOI
$16.1K $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%
$321,260
Cap Rate 7%
$229,471
Cap Rate 9%
$178,478
Alternative Uses
Best Use
Office B
$229.5K
$200.8K – $267.7K
NOI $16,063 @ 7.0% cap · market cap 5.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$306.4K
$268.1K – $357.5K
NOI $21,451 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 98902, WA
47,589
Population
17,723
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
78%
High-School Grad
9.3 sq mi
ZIP Area
5,117
Density / Sq Mi
$60,050
Median Household Income
$36,900
Median Earnings
$1,045
Median Rent
$237,700
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?
Office building - B-1 Professional Business zoning supports a recently updated workplace with flexible office and meeting configurations.
Where is this office building located?
The property is located at 3805 W Tieton Dr Yakima, WA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: B‑1 Professional Business zoning; Approximately 1,509 SF across two levels: 1,009 SF main level and approximately 500 SF upper level; 0.23‑acre lot at 3805 W Tieton Dr, Yakima, WA 98902
