Built-Out Family Medicine
504 N 40th Ave Yakima, WA 98908
For Sale
Contact for pricing
A fully sprinklered medical building with 27 exam rooms and 70 designated parking spaces, currently leased through March 2027.
Property Size13,762 SF
Lot Size1.31 Acres
Price / SF$203.46
Days on Market938
Property Features for 504 N 40th Ave
General Information
Standard status
Active
Size
13,762 SF
Lot size
1.31 Acres
Property subtype
OFFICE
Listing Agency:
Keller Williams Yakima Valley
(509) 594-7989
Listed By:
Russell Roberts, CCIM
(509) 594-7989
Source:
Moodyscre
Added: Jan 3, 2024
Changed: Jul 28
Last Checked: Jul 29 at 4:02PM
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 Keller Williams Yakima Valley
Investment Insights
Based on property information with market context.
This built-out family medicine facility includes 18,591 total square feet across finished ground floor and basement space, plus additional unfinished basement area. The healthcare layout features 27 exam rooms, a private lab, 2 procedure rooms, and multiple private offices, along with a breakroom, conference room, and gym. Building infrastructure includes a metal roof and a fully sprinkled interior, with reserved space for a future basement elevator.
The property sits on 1.31 acres and is zoned B-1, which allows for multiple uses. It provides 70 designated parking spaces and is located on Yakima’s North 40th, described as the 2nd most travel street in Yakima.
The building is currently leased to MultiCare Hospital through March 2027.
The property sits on 1.31 acres and is zoned B-1, which allows for multiple uses. It provides 70 designated parking spaces and is located on Yakima’s North 40th, described as the 2nd most travel street in Yakima.
The building is currently leased to MultiCare Hospital through March 2027.
Key Highlights
- 18,591 SF medical facility leased to MultiCare Hospital through March 2027
- Built‑out Family Medicine space with 27 exam rooms plus private lab and 2 procedure rooms
- Includes 12,083 SF finished ground floor and 2,730 SF finished basement (plus 3,778 SF unfinished basement)
Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $262.6k | $19.08 |
| − Vacancy | −$18.0k | −$1.31 |
| EGI | $244.5k | $17.77 |
| − OpEx | −$97.8k | −$7.11 |
| NOI | $146.7k | $10.66 |
13,762 SF · lease $19.08/SF/yr · vacancy 6.87% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.10M
$1.83M – $2.45M
NOI $146,724 @ 7.0% cap · market cap 5.24%
Second Best
Office B
$2.09M
$1.83M – $2.44M
NOI $146,493 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$2.79M
$2.45M – $3.26M
NOI $195,632 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Medical center - A fully sprinklered medical building with 27 exam rooms and 70 designated parking spaces, currently leased through March 2027.
Where is this medical center located?
The property is located at 504 N 40th Ave Yakima, WA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: 18,591 SF medical facility leased to MultiCare Hospital through March 2027; Built‑out Family Medicine space with 27 exam rooms plus private lab and 2 procedure rooms; Includes 12,083 SF finished ground floor and 2,730 SF finished basement (plus 3,778 SF unfinished basement)
