H2A Workforce Housing
For Sale
$2,500,000
Pending
102 N Wapato Ave, Wapato, WA 98951
Comm/Industrial, Wapato, WA
Property Size23,145 SF
Lot Size0.79 Acres
Days on Market240
Property Features for 102 N Wapato Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B1 - Prof Bus
Accessibility
Accessible Approach with Ramp
Lot features
Fenced - Full, Corner, Bus Line, Sprinkler Part, Gated Comm, Curbs/ Gutters, Paved Road
Directions
Left at light onto N Wapato Rd, Address ''102'' on your left at corner of N Wapato Rd and 1st Street.
Subdivision
13L - Wapato
Standard status
Pending
APN
191110-44475
Size
23,145 SF
Lot size
0.79 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4713
Utilities
Heating system
Electric (Heating), Ceiling
Cooling system
Central Air
Water source
Public
Building Details
Year built
1993
Flooring type
Carpet, Vinyl
Building materials
Frame
Roof type
Shake
Listing Agency:
Coldwell Banker Cascade Real Estate · Coldwell Banker Real Estate
(509) 248-5050
Listed By:
Ivonne Young · License #79385
(509) 961-6834
Added: Feb 4
Changed: Sep 17
Last Checked: Oct 2 at 6:06AM
MLS# 26-244
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 residential income property is a purpose-built H2A housing facility with 23,145 square feet on 0.79 acres. The building can accommodate up to 200 beds and includes 26 stoves, multiple double sinks, 25 refrigerators, and 25 showers. The site is fully fenced with gated entry, while newer heating and cooling systems and a recently replaced roof support ongoing operations. Interior finishes include carpet and vinyl flooring, with a frame construction system dating to 1993.
Located in Wapato, the property sits across from a Dollar Store and two blocks from a major grocery store. Banks, restaurants, Smoke Shack, and a check-cashing service are also within walking distance. Public water service, central air, electric ceiling heat, and an accessible approach with ramp are in place.
Located in Wapato, the property sits across from a Dollar Store and two blocks from a major grocery store. Banks, restaurants, Smoke Shack, and a check-cashing service are also within walking distance. Public water service, central air, electric ceiling heat, and an accessible approach with ramp are in place.
Key Highlights
- 23,145 SF H2A housing facility on 0.79 acres
- Capacity for up to 200 beds
- 26 stoves, multiple double sinks, 25 refrigerators, and 25 showers
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
$226,198
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
9.05%
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%
$4,523,960
$4.5M
Cap Rate 7%
$3,231,400
$3.2M
Cap Rate 9%
$2,513,311
$2.5M
Market Conditions
NOI Build-Up for 23,145 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
$441.6K $19.08/SF
− Vacancy
−$30.3K −$1.31/SF
EGI
$411.3K $17.77/SF
− OpEx
−$185.1K −$8.00/SF
NOI
$226.2K $9.77/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
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%
$4,523,960
Cap Rate 7%
$3,231,400
Cap Rate 9%
$2,513,311
Alternative Uses
Best Use
Apartment 5plus
$3.23M
$2.83M – $3.77M
NOI $226,198 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $329,015 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Residential income property - Purpose-built residential facility with extensive kitchen, bathing, and climate-control infrastructure for high-occupancy workforce housing.
Where is this residential income property located?
The property is located at 102 N Wapato Ave Wapato, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 23,145 SF H2A housing facility on 0.79 acres; Capacity for up to 200 beds; 26 stoves, multiple double sinks, 25 refrigerators, and 25 showers
