Downtown Mixed-Use
For Sale
$360,000
Pending
1110-1112 Meade Ave, Prosser, WA 99350
Dual-purpose commercial building with separate office and retail areas, shared storage, and entrances at both the front and rear.
Property Size2,860 SF
Days on Market389
Property Features for 1110-1112 Meade Ave
General Information
Standard status
Pending
Size
2,860 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,502
Amenities
Central Air, Electric, Gas
3
50 x 140, 6969.60009765625
Rain Gutters. In City, Paved Road.
Building Details
Year Built
1941
Listing Agency:
(509) 781-1428
Listed By:
Prosser
(509) 781-1428
Source:
Xome
Added: Aug 9, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:37PM
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 Prosser
Investment Insights
Based on property information with market context.
This 2,860-square-foot mixed-use property combines office and retail space within one commercial building. The office component was renovated in 2021 and includes two conference rooms, three private offices, and two open work areas. The retail portion measures 19 by 30 feet and includes an additional 19-by-18-foot storage area. A common storage section and bathroom connect the two sides, while each area has its own front and rear entrance.
Built in 1941, the building is located in downtown Prosser on a paved city road. The property has central air and electric and gas service. Its divided configuration supports separate occupancy of the office and retail components while retaining shared interior functions.
Built in 1941, the building is located in downtown Prosser on a paved city road. The property has central air and electric and gas service. Its divided configuration supports separate occupancy of the office and retail components while retaining shared interior functions.
Key Highlights
- 2,860 SF mixed‑use building with office and retail components
- Office area renovated in 2021
- Office layout includes 2 conference rooms, 3 private offices, and 2 open work areas
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
$23,089
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
6.41%
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%
$461,780
$461.8K
Cap Rate 7%
$329,843
$329.8K
Cap Rate 9%
$256,544
$256.5K
Market Conditions
NOI Build-Up for 2,860 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
$40.2K $14.04/SF
− Vacancy
−$3.2K −$1.12/SF
EGI
$36.9K $12.92/SF
− OpEx
−$13.9K −$4.84/SF
NOI
$23.1K $8.07/SF
Area
Benton County, WA
Vacancy
8.00%
Lease Rate
$14.04 /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%
$461,780
Cap Rate 7%
$329,843
Cap Rate 9%
$256,544
Alternative Uses
Best Use
Office B
$627.2K
$548.8K – $731.7K
NOI $43,901 @ 7.0% cap · market cap 12.19%
Second Best
Retail
$480.8K
$420.7K – $561.0K
NOI $33,658 @ 7.0% cap · market cap 9.35%
Theoretical Best
Office A
$793.3K
$694.1K – $925.5K
NOI $55,528 @ 7.0% cap · market cap 15.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 99350, WA
13,240
Population
4,954
Households
2.7
Avg Household Size
36
Median Age
20%
College-Educated
79%
High-School Grad
600.1 sq mi
ZIP Area
22
Density / Sq Mi
$74,393
Median Household Income
$35,976
Median Earnings
$899
Median Rent
$289,100
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?
Mixed-use property - Dual-purpose commercial building with separate office and retail areas, shared storage, and entrances at both the front and rear.
Where is this mixed-use property located?
The property is located at 1110-1112 Meade Ave Prosser, WA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,860 SF mixed‑use building with office and retail components; Office area renovated in 2021; Office layout includes 2 conference rooms, 3 private offices, and 2 open work areas
