Remodeled Two-Tenant Office
New
For Sale
$575,000
108 W Fremont Avenue, Selah, WA 98942
Updated office property with NNN lease structures and an established two-tenant occupancy in central Selah.
Property Size2,849 SF
Days on Market5
Property Features for 108 W Fremont Avenue
General Information
Standard status
Active
Size
2,849 SF
Class
B
Property subtype
Multi Tenant Office
Additional Details
Asking Price
$575,000
Building Details
Building Size
2,849 SF
Year Built
1978
Year Renovated
2021
Tenancy
Multi
Listing Agency:
Almon Commercial
(509) 966-3800
Listed By:
Chris Sentz · License #122205
(509) 966-3800
Source:
Thebrokerlist
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 29 at 4:33PM
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 Almon Commercial
Investment Insights
Based on property information with market context.
This office building was constructed in 1978 and substantially remodeled in 2021. The property accommodates two tenants and is subject to NNN lease structures, providing an established commercial occupancy within an updated building.
The property is located at 108 W Fremont Avenue in Selah, Washington, just off the city’s primary commercial corridor. Its setting places the building near downtown businesses and residential neighborhoods, with access to the greater Yakima market. The address provides a central location for an office asset serving the Selah community.
The property is located at 108 W Fremont Avenue in Selah, Washington, just off the city’s primary commercial corridor. Its setting places the building near downtown businesses and residential neighborhoods, with access to the greater Yakima market. The address provides a central location for an office asset serving the Selah community.
Key Highlights
- Two‑tenant office property with established occupancy
- Substantial remodeling completed in 2021
- NNN lease structures in place
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
$30,327
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
5.27%
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%
$606,540
$606.5K
Cap Rate 7%
$433,243
$433.2K
Cap Rate 9%
$336,967
$337.0K
Market Conditions
NOI Build-Up for 2,849 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
$43.4K $15.24/SF
− Vacancy
−$3.0K −$1.05/SF
EGI
$40.4K $14.19/SF
− OpEx
−$10.1K −$3.55/SF
NOI
$30.3K $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%
$606,540
Cap Rate 7%
$433,243
Cap Rate 9%
$336,967
Alternative Uses
Best Use
Office B
$433.2K
$379.1K – $505.5K
NOI $30,327 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$578.6K
$506.3K – $675.0K
NOI $40,500 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 98942, WA
18,511
Population
7,629
Households
2.4
Avg Household Size
37
Median Age
25%
College-Educated
86%
High-School Grad
183.1 sq mi
ZIP Area
101
Density / Sq Mi
$83,251
Median Household Income
$53,842
Median Earnings
$1,354
Median Rent
$352,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Updated office property with NNN lease structures and an established two-tenant occupancy in central Selah.
Where is this office building located?
The property is located at 108 W Fremont Avenue Selah, WA.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑tenant office property with established occupancy; Substantial remodeling completed in 2021; NNN lease structures in place
