Mixed-Use Property with Separate
For Sale
$360,000
Pending
1110-1112 Meade Ave, Prosser, WA 99350
Commercial Sale, Prosser, WA
Property Size2,860 SF
Lot Size0.16 Acres
Days on Market330
Property Features for 1110-1112 Meade Ave
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
COMMCL GENERAL
Window features
Double Pane Windows
Exterior features
Gutters Full
Lot features
Loc in City Limits
Directions
Wine Country Road to Meade
Standard status
Pending
APN
102844030065022
Size
2,860 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1502
Utilities
Utilities
Natural Gas Available
Heating system
Natural Gas, Electric (Heating), Forced Air
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1941
Building materials
Block
Roof type
Rolled Hot Mop
Listing Agency:
John L Scott - Prosser
50978163
Listed By:
Laura Ripplinger · License #11003
(509) 781-1428
Added: Oct 7, 2025
Changed: Aug 26
Last Checked: Sep 1 at 1:06PM
MLS# 288044
Copyright © 2026 PACMLS. 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 2,860-square-foot mixed-use property contains distinct office and retail areas within a 1941 block building. The office portion was renovated in 2021 and includes two conference rooms, three private offices, and two open work areas. The retail area measures 19 by 30 feet and includes an additional 19-by-18-foot storage room. A shared storage area and bathroom connect the two sides, while separate front and rear entrances support independent access.
The property occupies 0.16 acres in downtown Prosser and carries COMMCL GENERAL zoning. Building systems include forced-air heating, central air conditioning, public water, and natural gas availability. Exterior features include full gutters and a rolled hot-mop roof.
The property occupies 0.16 acres in downtown Prosser and carries COMMCL GENERAL zoning. Building systems include forced-air heating, central air conditioning, public water, and natural gas availability. Exterior features include full gutters and a rolled hot-mop roof.
Key Highlights
- 2,860 SF mixed‑use building on 0.16 acres
- 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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Downtown commercial building combining renovated office space with a dedicated retail area and shared storage.
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 on 0.16 acres; Office area renovated in 2021; Office layout includes 2 conference rooms, 3 private offices, and 2 open work areas
