Auto Shop with Three
For Sale
$695,000
1207 Sheridan Ave, Prosser, WA 99350
Metal auto shop with service bays, hoists, and heating for the garage and office areas.
Property Size4,000 SF
Price / SF$173.75
Days on Market211
Property Features for 1207 Sheridan Ave
General Information
Standard status
Active
Size
4,000 SF
Property subtype
General Commercial
Additional Details
Business Included
Yes
Service Bays
3
Taxes and HOA fees
Annual Taxes
$964
Amenities
Swamp Cooler(s)
3
Concrete, Carpet
Metal
0.0, 0.0
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Rainmaker NW Realestate LLC
(509) 961-3443
Listed By:
Saundra Burke
(509) 961-3443
Source:
Xome
Added: Jan 31
Changed: Aug 29
Last Checked: Aug 29 at 11:11PM
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 Rainmaker NW Realestate LLC
Investment Insights
Based on property information with market context.
The property includes a 4,000-square-foot metal auto shop constructed in 1950, with the operating business conveyed together with the building. Service infrastructure includes 3 bay doors, 3 vehicle hoists, and 3 flat stalls. Welding curtains, a 5 horse 3 phase air compressor, and 4 count 220 volt outlets throughout the shop support automotive and fabrication work.
Heating is provided by a self-feeding Lanair waste oil burner serving the garage and office space, with a gas furnace available as backup. Interior features include a swamp cooler, concrete, and carpet. The property is located at 1207 Sheridan Ave in Prosser, WA.
Heating is provided by a self-feeding Lanair waste oil burner serving the garage and office space, with a gas furnace available as backup. Interior features include a swamp cooler, concrete, and carpet. The property is located at 1207 Sheridan Ave in Prosser, WA.
Key Highlights
- 4,000‑square‑foot metal auto shop built in 1950
- 3 bay doors, 3 hoists, and 3 flat stalls
- Self‑feeding Lanair waste oil burner heats the garage and office space
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
$47,074
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
6.77%
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%
$941,480
$941.5K
Cap Rate 7%
$672,486
$672.5K
Cap Rate 9%
$523,044
$523.0K
Market Conditions
NOI Build-Up for 4,000 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
$72.0K $18.00/SF
− Vacancy
−$4.8K −$1.19/SF
EGI
$67.2K $16.81/SF
− OpEx
−$20.2K −$5.04/SF
NOI
$47.1K $11.77/SF
Area
Benton County, WA
Vacancy
6.60%
Lease Rate
$18.00 /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%
$941,480
Cap Rate 7%
$672,486
Cap Rate 9%
$523,044
Alternative Uses
Best Use
Retail
$672.5K
$588.4K – $784.6K
NOI $47,074 @ 7.0% cap · market cap 6.77%
Second Best
Industrial
$335.5K
$293.6K – $391.4K
NOI $23,486 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$1.11M
$970.8K – $1.29M
NOI $77,662 @ 7.0% cap · market cap 11.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Well-served
Demand for This Use
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Armstrong Automotive — 1102 Meade Ave, Prosser, WA 99350
- Speck Chevrolet of Prosser Service and Parts — 314 6th St, Prosser, WA 99350
- McIntyre Auto Repair — 1207 Sheridan Ave, Prosser, WA 99350
- Prosser Autobody Repair — 1316 Stacy Ave, Prosser, WA 99350
- Brown's Tire Co. — 310 Wine Country Rd, Prosser, WA 99350
Frequently Asked Questions
What type of property is this?
Auto shop - Metal auto shop with service bays, hoists, and heating for the garage and office areas.
Where is this auto shop located?
The property is located at 1207 Sheridan Ave Prosser, WA.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 4,000‑square‑foot metal auto shop built in 1950; 3 bay doors, 3 hoists, and 3 flat stalls; Self‑feeding Lanair waste oil burner heats the garage and office space
