Fully Occupied Mixed-Use Retail
For Sale
$695,000
1005-1009 N 1st St, Yakima, WA 98901
Four retail spaces support restaurant, salon/barber, and auto-shop uses alongside three apartment units.
Property Size8,821 SF
Price / SF$78.79
Days on Market244
Property Features for 1005-1009 N 1st St
General Information
Standard status
Active
Size
8,821 SF
Property subtype
General Commercial
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$7,317
Amenities
storage space
Central Air, Wall Air Conditioning
3
Tile, Vinyl, Concrete, Carpet
Composition, Built Up
Level
0.0, 0.0
Shed, Shop, Extra Storage. Close to Bus Line, Paved Road, Level.
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Dedicated Realty
(509) 654-8086
Listed By:
United Country Real Estate
(509) 654-8086
Source:
Xome
Added: Dec 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dedicated Realty
Investment Insights
Based on property information with market context.
This mixed-use property contains 8,821 square feet arranged across four separate retail spaces. The existing occupants operate a restaurant, salon/barber business, and auto shop, while three apartments are incorporated within the commercial units. Storage is also available through on-site shed, shop, and extra-storage areas.
Built in 1950, the property includes central air and wall air conditioning, with interior finishes comprising tile, vinyl, concrete, and carpet. The level site is served by a paved road and is located close to a bus line at 1005-1009 N 1st St in Yakima, Washington.
Built in 1950, the property includes central air and wall air conditioning, with interior finishes comprising tile, vinyl, concrete, and carpet. The level site is served by a paved road and is located close to a bus line at 1005-1009 N 1st St in Yakima, Washington.
Key Highlights
- Fully occupied by three long‑term tenants across four separate retail spaces
- 8,821‑square‑foot mixed‑use property with three apartments inside the commercial units
- Existing uses include a restaurant, salon/barber business, and auto shop
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
$62,420
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
8.98%
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%
$1,248,400
$1.2M
Cap Rate 7%
$891,714
$891.7K
Cap Rate 9%
$693,556
$693.6K
Market Conditions
NOI Build-Up for 8,821 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
$108.0K $12.24/SF
− Vacancy
−$8.1K −$0.92/SF
EGI
$99.9K $11.32/SF
− OpEx
−$37.5K −$4.25/SF
NOI
$62.4K $7.08/SF
Area
Yakima County, WA
Vacancy
7.50%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
37.50%
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%
$1,248,400
Cap Rate 7%
$891,714
Cap Rate 9%
$693,556
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,440 @ 7.0% cap · market cap 12.87%
Second Best
Mixed Use
$891.7K
$780.3K – $1.04M
NOI $62,420 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,394 @ 7.0% cap · market cap 18.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 60%
Shops & Services 34%
Hotels & Casinos 6%
Jack in the Box
Dining
6,240 visits/mo
0.1 miles
Red Lobster
Dining
3,920 visits/mo
0.1 miles
ARCO
Shops & Services
2,292 visits/mo
0.1 miles
76
Shops & Services
2,188 visits/mo
0.4 miles
AMPM
Shops & Services
1,289 visits/mo
0.1 miles
Demographics for 98901, WA
32,351
Population
12,201
Households
2.7
Avg Household Size
33
Median Age
17%
College-Educated
72%
High-School Grad
184.5 sq mi
ZIP Area
175
Density / Sq Mi
$56,429
Median Household Income
$33,058
Median Earnings
$996
Median Rent
$268,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four retail spaces support restaurant, salon/barber, and auto-shop uses alongside three apartment units.
Where is this mixed-use property located?
The property is located at 1005-1009 N 1st St Yakima, WA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Fully occupied by three long‑term tenants across four separate retail spaces; 8,821‑square‑foot mixed‑use property with three apartments inside the commercial units; Existing uses include a restaurant, salon/barber business, and auto shop
