Commercial Land with Warehouse and
For Sale
$1,950,000
120 N Puterbaugh Rd, Grandview, WA 98930
5.2 acres with warehouse, office, and manufactured home.
Property Size6,240 SF
Lot Size5.20 Acres
Price / SF$312.50
Days on Market851
Property Features for 120 N Puterbaugh Rd
General Information
Standard status
Active
Size
6,240 SF
Lot size
5.20 Acres
Taxes and HOA fees
Annual Taxes
$3,292
Listing Agency:
Wilson Real Estate Management LLC
(509) 728-0654
Listed By:
Roger Wilson · License #17888
(509) 728-0654
Source:
Exprealty
Added: Apr 22, 2024
Changed: Aug 20
Last Checked: Aug 20 at 9:47AM
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 Wilson Real Estate Management LLC
Investment Insights
Based on property information with market context.
This property features a 6240-sf warehouse and office building situated on approximately 5.2 acres of usable land. Additionally, there is a 1876 sf manufactured home with 3 bedrooms and 2 bathrooms, currently rented for $1335 per month. Zoned General Commercial, the property is located along Yakima Valley Highway and offers visibility from I-82. The property was formerly used as a farm retail store. It is located next to a development with a truck stop. The property is suitable for retail and other uses. The owner may consider an offer to purchase.
Key Highlights
- 5.2 acres of usable land zoned General Commercial, suitable for various uses.
- Located next to a development with a Truck Stop and visible from I‑82.
- 6240‑sf warehouse and office building on Yakima Valley Highway.
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
$66,423
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
3.41%
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%
$1,328,460
$1.3M
Cap Rate 7%
$948,900
$948.9K
Cap Rate 9%
$738,033
$738.0K
Market Conditions
NOI Build-Up for 6,240 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
$95.1K $15.24/SF
− Vacancy
−$6.5K −$1.05/SF
EGI
$88.6K $14.19/SF
− OpEx
−$22.1K −$3.55/SF
NOI
$66.4K $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%
$1,328,460
Cap Rate 7%
$948,900
Cap Rate 9%
$738,033
Alternative Uses
Best Use
Office B
$948.9K
$830.3K – $1.11M
NOI $66,423 @ 7.0% cap · market cap 3.41%
Second Best
Retail
$903.9K
$790.9K – $1.05M
NOI $63,270 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,704 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 98930, WA
15,339
Population
4,910
Households
3.1
Avg Household Size
30
Median Age
9%
College-Educated
67%
High-School Grad
44.9 sq mi
ZIP Area
342
Density / Sq Mi
$67,798
Median Household Income
$34,675
Median Earnings
$980
Median Rent
$277,600
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?
Commercial land - 5.2 acres with warehouse, office, and manufactured home.
Where is this commercial land located?
The property is located at 120 N Puterbaugh Rd Grandview, WA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 5.2 acres of usable land zoned General Commercial, suitable for various uses.; Located next to a development with a Truck Stop and visible from I‑82.; 6240‑sf warehouse and office building on Yakima Valley Highway.
