Small-Bay Industrial Business
For Sale
Contact for pricing
112 West Washington Avenue, Union Gap, WA 98903
2008-vintage industrial facility with grade-level functionality and small-bay space designed for local service and trade users.
Property Size28,500 SF
Price / SF$101.75
Days on Market116
Property Features for 112 West Washington Avenue
General Information
Standard status
Active
Size
28,500 SF
Property subtype
Industrial
Zoning
CBD
Investment Type
Stabilized
Net Operating Income
$197,990
Building Details
Year Built
2008
Units
30
Tenancy
Multi
Listing Agency:
Paragon Group
Listed By:
Mason Fiascone · License #20115181
(509) 221-9354
Source:
Crexi
Added: May 14
Changed: Aug 28
Last Checked: Sep 5 at 6:21PM
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 Paragon Group
Investment Insights
Based on property information with market context.
Guardian Business Center is a 2008-vintage small-bay industrial asset with modern construction and grade-level functionality. The property is configured to support small-bay occupancy, fitting the needs of local trades and hands-on service businesses.
Located outside Yakima in Union Gap, WA, Guardian sits within one of the Yakima Valley’s most active commercial corridors and is described as having proximity to major transportation infrastructure. The surrounding area’s city planning efforts emphasize transportation, downtown development, and long-range growth, with regional infrastructure investment such as the Beltway Connector intended to strengthen freight movement and commercial accessibility over time.
Guardian Business Center is presented as not dependent on a single large user, with appeal to diversified tenants across multiple industries.
Located outside Yakima in Union Gap, WA, Guardian sits within one of the Yakima Valley’s most active commercial corridors and is described as having proximity to major transportation infrastructure. The surrounding area’s city planning efforts emphasize transportation, downtown development, and long-range growth, with regional infrastructure investment such as the Beltway Connector intended to strengthen freight movement and commercial accessibility over time.
Guardian Business Center is presented as not dependent on a single large user, with appeal to diversified tenants across multiple industries.
Key Highlights
- Guardian Business Center is a 2008‑vintage industrial asset in Union Gap, WA.
- Grade‑level functionality supports practical access for service and trade users.
- Small‑bay configuration offers space designed for local hands‑on businesses.
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
$225,874
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
7.79%
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%
$4,517,480
$4.5M
Cap Rate 7%
$3,226,771
$3.2M
Cap Rate 9%
$2,509,711
$2.5M
Market Conditions
NOI Build-Up for 28,500 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
$348.8K $12.24/SF
− Vacancy
−$26.2K −$0.92/SF
EGI
$322.7K $11.32/SF
− OpEx
−$96.8K −$3.40/SF
NOI
$225.9K $7.93/SF
Area
Yakima County, WA
Vacancy
7.50%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
30.00%
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%
$4,517,480
Cap Rate 7%
$3,226,771
Cap Rate 9%
$2,509,711
Alternative Uses
Best Use
Warehouse
$3.92M
$3.43M – $4.57M
NOI $274,275 @ 7.0% cap · market cap 9.46%
Second Best
Industrial
$3.23M
$2.82M – $3.76M
NOI $225,874 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$5.79M
$5.06M – $6.75M
NOI $405,138 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
272
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98903, WA
17,491
Population
6,541
Households
2.7
Avg Household Size
39
Median Age
18%
College-Educated
79%
High-School Grad
192.5 sq mi
ZIP Area
91
Density / Sq Mi
$69,188
Median Household Income
$35,250
Median Earnings
$1,232
Median Rent
$265,900
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Flex space - 2008-vintage industrial facility with grade-level functionality and small-bay space designed for local service and trade users.
Where is this flex space located?
The property is located at 112 West Washington Avenue Union Gap, WA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Guardian Business Center is a 2008‑vintage industrial asset in Union Gap, WA.; Grade‑level functionality supports practical access for service and trade users.; Small‑bay configuration offers space designed for local hands‑on businesses.
