Mixed-Use Corner Commercial
For Sale
$375,000
Pending
4813 Tieton Dr, Yakima, WA 98908
COMMERCIAL - Yakima, WA
Property Size2,920 SF
Lot Size0.11 Acres
Days on Market189
Property Features for 4813 Tieton Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B2 - Local Business
Lot features
Level, Corner, Bus Line, Curbs/ Gutters, Paved Road
Directions
From I-82, take Exit 33 for Nob Hill Blvd. Head west on Nob Hill Blvd for approximately 2 miles. Turn right onto S 49th Ave. Continue north to the intersection of S 49th Ave and Tieton Dr. Property is located on the northwest corner of Tieton Dr and S 49th Ave at 4813 Tieton Dr, Yakima, WA.
Subdivision
5A - W 40th/S Yak Ave
Standard status
Pending
APN
181321-44508
Size
2,920 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1012
Utilities
Heating system
Electric (Heating), Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1942
Flooring type
Concrete
Building materials
Block
Roof type
Composition
Listing Agency:
Keller Williams Yakima Valley · Keller Williams Realty
(509) 966-1020
Listed By:
Adam Ranger · License #122859
(509) 949-2192
Added: Feb 23
Changed: Aug 4
Last Checked: Aug 31 at 2:06PM
MLS# 26-441
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 mixed-use commercial building is configured as three separate units suitable for office and/or retail use. The front unit includes a secure, enclosed 460 SF storage shed. The middle unit provides additional space for an office or retail tenant. The rear unit is currently occupied by a dog grooming tenant and is under lease through September 2028.
The property is located on a high-exposure corner setting on Tieton Dr in West Yakima. It benefits from visibility and the ability to serve both office and retail requirements within a flexible, multi-tenant layout.
For current income, all three units are leased. The front and middle units are described as month-to-month, while the rear unit has a lease in place extending through September 2028, supporting an owner-operator or investor strategy with existing tenancy.
The property is located on a high-exposure corner setting on Tieton Dr in West Yakima. It benefits from visibility and the ability to serve both office and retail requirements within a flexible, multi-tenant layout.
For current income, all three units are leased. The front and middle units are described as month-to-month, while the rear unit has a lease in place extending through September 2028, supporting an owner-operator or investor strategy with existing tenancy.
Key Highlights
- 2,920 SF mixed‑use commercial building on a West Yakima corner location with three tenant spaces.
- Unit mix: front 1,150 SF, middle 750 SF, and rear 660 SF—configured for office and/or retail use.
- Current leases include month‑to‑month terms for the front two units and a rear‑unit dog grooming lease through September 2028.
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
$31,083
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
8.29%
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%
$621,660
$621.7K
Cap Rate 7%
$444,043
$444.0K
Cap Rate 9%
$345,367
$345.4K
Market Conditions
NOI Build-Up for 2,920 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
$44.5K $15.24/SF
− Vacancy
−$3.1K −$1.05/SF
EGI
$41.4K $14.19/SF
− OpEx
−$10.4K −$3.55/SF
NOI
$31.1K $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%
$621,660
Cap Rate 7%
$444,043
Cap Rate 9%
$345,367
Alternative Uses
Best Use
Office B
$444.0K
$388.5K – $518.1K
NOI $31,083 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$593.0K
$518.9K – $691.8K
NOI $41,509 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Explore this area
Business Placement
Demographics for 98908, WA
38,205
Population
15,496
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
105.7 sq mi
ZIP Area
361
Density / Sq Mi
$80,266
Median Household Income
$43,789
Median Earnings
$1,302
Median Rent
$356,900
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 units - A three-unit office/retail property with leased units and an enclosed storage shed in a high-exposure corner setting.
Where is this office units located?
The property is located at 4813 Tieton Dr Yakima, WA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 2,920 SF mixed‑use commercial building on a West Yakima corner location with three tenant spaces.; Unit mix: front 1,150 SF, middle 750 SF, and rear 660 SF—configured for office and/or retail use.; Current leases include month‑to‑month terms for the front two units and a rear‑unit dog grooming lease through September 2028.
