Drive-Through Restaurant
For Sale
$625,000
602 W Yakima Ave, Yakima, WA 98902
Former coffee drive-through in a 3-tenant building with a large 37-space parking lot, offered on an NNN lease.
Property Size3,596 SF
Lot Size0.64 Acres
Price / SF$173.80
Days on Market1886
Property Features for 602 W Yakima Ave
General Information
Standard status
Active
Size
3,596 SF
Total Parking Spaces
37
Lot size
0.64 Acres
Property subtype
General Commercial
Zoning
CBD
Lease Type
NNN
Additional Details
Traffic Count
29,200 vehicles/day
Taxes and HOA fees
Annual Taxes
$3,391
Amenities
Central Air
3
Tile, Vinyl, Carpet
Built Up
Corner Lot.
Level
0.1599999964237213, 0.1599999964237213
Curb & Gutter. Corner, Level.
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Rose & Associates
Listed By:
Dennis Rose, Broker
(509) 453-2000
Source:
Xome
Added: Jul 11, 2021
Changed: Sep 8
Last Checked: Sep 7 at 11:26AM
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 Rose & Associates
Investment Insights
Based on property information with market context.
This former national tenant coffee drive-through is offered with a range of suites from 2,002 to 2,333 square feet. The property is within a 3-tenant building totaling 6,552 square feet, situated on a 0.64-acre lot with a large 37-space parking lot.
Located on Yakima’s Downtown Main Street, the building is zoned CBD and is positioned about half a block from the Convention Center and about one block from the Hilton Garden Inn and surrounding renovated downtown retail and services. The stated traffic count is 29,200 vehicles per day.
The offering is described as a $26 per square foot per year NNN lease.
Located on Yakima’s Downtown Main Street, the building is zoned CBD and is positioned about half a block from the Convention Center and about one block from the Hilton Garden Inn and surrounding renovated downtown retail and services. The stated traffic count is 29,200 vehicles per day.
The offering is described as a $26 per square foot per year NNN lease.
Key Highlights
- Former National Tenant coffee drive‑through with 2002 to 2333 SF available
- Offered in a 3‑tenant 6552 SF building on a 0.64‑acre lot
- Large 37‑space parking lot on site
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
$36,586
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
5.85%
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%
$731,720
$731.7K
Cap Rate 7%
$522,657
$522.7K
Cap Rate 9%
$406,511
$406.5K
Market Conditions
NOI Build-Up for 3,596 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
$50.9K $14.16/SF
− Vacancy
−$2.1K −$0.59/SF
EGI
$48.8K $13.57/SF
− OpEx
−$12.2K −$3.39/SF
NOI
$36.6K $10.17/SF
Area
Yakima County, WA
Vacancy
4.20%
Lease Rate
$14.16 /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%
$731,720
Cap Rate 7%
$522,657
Cap Rate 9%
$406,511
Alternative Uses
Best Use
Specialty Retail
$522.7K
$457.3K – $609.8K
NOI $36,586 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$730.3K
$639.0K – $852.0K
NOI $51,118 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
29,200 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,369
Businesses Nearby
308k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 40%
Dining 27%
Shops & Services 22%
Apparel 7%
Target
Superstores
99,400 visits/mo
0.3 miles
Olive Garden
Dining
27,085 visits/mo
0.3 miles
McDonald's
Dining
25,346 visits/mo
0.5 miles
Big Lots
Superstores
23,613 visits/mo
0.3 miles
Ross Dress for Less
Apparel
20,612 visits/mo
0.4 miles
Demographics for 98902, WA
47,589
Population
17,723
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
78%
High-School Grad
9.3 sq mi
ZIP Area
5,117
Density / Sq Mi
$60,050
Median Household Income
$36,900
Median Earnings
$1,045
Median Rent
$237,700
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.
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- Java Heaven — 212 W Walnut St, Yakima, WA 98902
- Coffee Cravings Inc. — 118 W Yakima Ave, Yakima, WA 98902
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Frequently Asked Questions
What type of property is this?
Coffee shop - Former coffee drive-through in a 3-tenant building with a large 37-space parking lot, offered on an NNN lease.
Where is this coffee shop located?
The property is located at 602 W Yakima Ave Yakima, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Former National Tenant coffee drive‑through with 2002 to 2333 SF available; Offered in a 3‑tenant 6552 SF building on a 0.64‑acre lot; Large 37‑space parking lot on site
