Class A Multi-Tenant Office
For Sale
$2,925,000
1240 S Pioneer Way, Moses Lake, WA 98837
A Class office building with ADA access, elevator service, and multiple suites, offering an owner-occupant path.
Property Size15,637 SF
Lot Size0.57 Acres
Price / SF$187.06
Days on Market96
Property Features for 1240 S Pioneer Way
General Information
Standard status
Active
Size
15,637 SF
Class
A
Total Parking Spaces
32
Lot size
0.57 Acres
Property subtype
Office - General Office
Zoning
C-2
Additional Details
Office Units
3
Building Details
Building Size
15,637 SF
Tenancy
Multi
Listing Agency:
Kiemle Hagood
Listed By:
Gunnar Knutson · License #25034921
(509) 755-7520
Source:
Commercialcafe
Added: Jun 1
Changed: Sep 4
Last Checked: Sep 2 at 4:54PM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This Class A office building totals 15,637 rentable square feet and is designed for full ADA accessibility, with elevator service to all floors. The property includes heated sidewalks and pylon signage, and sits on 24,829 square feet of land zoned C-2. Parking for 32 vehicles is available, including 11 covered stalls. The building operates as a multi-tenant property with two income-producing suites totaling 2,179 rentable square feet and a larger anchor suite that brings total rentable space to 13,684 square feet, supported by 1,953 square feet of common area.
The building is positioned along high-visibility Pioneer Way, supporting strong visibility for business operations. The seller notes an owner-occupant opportunity, with the primary tenant scheduled to vacate by July 2027, and early vacation possible.
For an owner-occupant or buyer looking to control their occupancy timeline, the scheduled move-out creates a practical path to occupy a majority of the building. The current multi-suite configuration also provides flexibility for buyers seeking on-site operations alongside additional rentable space. Seller financing is available; call agents for details.
The building is positioned along high-visibility Pioneer Way, supporting strong visibility for business operations. The seller notes an owner-occupant opportunity, with the primary tenant scheduled to vacate by July 2027, and early vacation possible.
For an owner-occupant or buyer looking to control their occupancy timeline, the scheduled move-out creates a practical path to occupy a majority of the building. The current multi-suite configuration also provides flexibility for buyers seeking on-site operations alongside additional rentable space. Seller financing is available; call agents for details.
Key Highlights
- 15,637 SF A‑Class office building on 24,829 SF C‑2 zoned land along Pioneer Way with pylon signage
- Two income‑producing suites: 833 SF and 1,346 SF
- Anchor suite totals 13,457 SF with 13,684 SF of total rentable space plus 1,953 SF common 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
$167,472
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
5.73%
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%
$3,349,440
$3.3M
Cap Rate 7%
$2,392,457
$2.4M
Cap Rate 9%
$1,860,800
$1.9M
Market Conditions
NOI Build-Up for 15,637 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
$262.7K $16.80/SF
− Vacancy
−$39.4K −$2.52/SF
EGI
$223.3K $14.28/SF
− OpEx
−$55.8K −$3.57/SF
NOI
$167.5K $10.71/SF
Area
Grant County, WA
Vacancy
15.00%
Lease Rate
$16.80 /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%
$3,349,440
Cap Rate 7%
$2,392,457
Cap Rate 9%
$1,860,800
Alternative Uses
Best Use
Office B
$2.39M
$2.09M – $2.79M
NOI $167,472 @ 7.0% cap · market cap 5.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.40M
$2.97M – $3.96M
NOI $237,782 @ 7.0% cap · market cap 8.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
644
Businesses Nearby
Explore this area
Business Placement
Demographics for 98837, WA
46,262
Population
18,651
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
87%
High-School Grad
486.2 sq mi
ZIP Area
95
Density / Sq Mi
$70,732
Median Household Income
$44,214
Median Earnings
$1,128
Median Rent
$290,000
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?
Office building - A Class office building with ADA access, elevator service, and multiple suites, offering an owner-occupant path.
Where is this office building located?
The property is located at 1240 S Pioneer Way Moses Lake, WA.
What is the asking price?
The asking price for this property is $2,925,000.
What are key features of this property?
This property features: 15,637 SF A‑Class office building on 24,829 SF C‑2 zoned land along Pioneer Way with pylon signage; Two income‑producing suites: 833 SF and 1,346 SF; Anchor suite totals 13,457 SF with 13,684 SF of total rentable space plus 1,953 SF common area
