Building Details

Year built 2018

Building materials Block, Frame

Roof type Composition, Metal

Listing Agency: Keller Williams Yakima Valley · Keller Williams Realty c***@kw.com Show Phone

Listed By: Russ Roberts, · License #26317 Show Phone

Added: Sep 10, 2025 Changed: Sep 5 Last Checked: Sep 7 at 9:06PM

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MLS# 25-2649

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.

Located at 11793 Fort Rd in White Swan, Washington, this 40-acre manufacturing property combines laboratory, warehouse, production, office, and residential improvements. The analytical facility includes 2,300+ SF of laboratory space, 8 offices, 5 cubicles, a conference room, and a break room. Existing analytical equipment is included, along with a ventilation system, UPS protection, backup generator, and fiber-optic service extending to other buildings.

The warehouse and production building provides 32,000 SF of grade-level space with a loading dock and 14' clear height at the eave. Additional improvements include 3,300 SF containing 2 offices and a break room, plus a 5,784 SF office building with 9 private offices and a conference room. A 3,492 SF farmhouse offers 5 bedrooms, 3 bathrooms, a finished basement, and an outdoor pool. Construction includes block and frame materials, with heat-pump heating and composition and metal roofing.

Key Highlights

• 40 acres in White Swan, WA
• 2,300+ SF analytical and preparation laboratory
• 32,000 SF grade‑level warehouse and production area

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

$487,722

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

6.10%

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%

$9,754,440 $9.8M

Cap Rate 7%

$6,967,457 $7.0M

Cap Rate 9%

$5,419,133 $5.4M

Market Conditions

NOI Build-Up for 45,818 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

$698.3K $15.24/SF

− Vacancy

−$48.0K −$1.05/SF

EGI

$650.3K $14.19/SF

− OpEx

−$162.6K −$3.55/SF

NOI

$487.7K $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%

$9,754,440

Cap Rate 7%

$6,967,457

Cap Rate 9%

$5,419,133

Alternative Uses

Best Use

Office B

$6.97M

$6.10M – $8.13M (±1% cap)

NOI $487,722 @ 7.0% cap · market cap 6.10%

Second Best

Warehouse

$6.30M

$5.51M – $7.35M (±1% cap)

NOI $440,939 @ 7.0% cap · market cap 5.51%

Theoretical Best

Office A

$9.30M

$8.14M – $10.86M (±1% cap)

NOI $651,320 @ 7.0% cap · market cap 8.14%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Farwestern Farms Inc Food Processing Plant

Lease Details

14 ft

Clear height

19

Office units

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 98952, WA

2,347

Population

547

Households

4.3

Avg Household Size

31

Median Age

15%

College-Educated

73%

High-School Grad

388.8 sq mi

ZIP Area

6

Density / Sq Mi

$56,957

Median Household Income

$31,402

Median Earnings

$585

Median Rent

$111,000

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this manufacturing properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Manufacturing property - Includes analytical equipment, warehouse and production areas, offices, and a five-bedroom residence.

Where is this manufacturing property located?

The property is located at 11793 Fort Rd White Swan, WA.

What is the asking price?

The asking price for this property is $8,000,000.

What are key features of this property?

This property features: 40 acres in White Swan, WA; 2,300+ SF analytical and preparation laboratory; 32,000 SF grade‑level warehouse and production area