Prosser Industrial Land with
For Sale
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139802 W Johnson Rd, Prosser, WA 99350
4.06 acre industrial parcel with home and shop.
Property Size3,400 SF
Lot Size4.06 Acres
Price / SF$242.65
Days on Market155
Property Features for 139802 W Johnson Rd
General Information
Standard status
Active
Size
3,400 SF
Class
B
Lot size
4.06 Acres
Property subtype
Industrial
Zoning
L1: Light Industrial
Lease Type
Gross
Building Details
Year Built
2001
Buildings
2
Tenancy
Single
Listing Agency:
KW Commercial Yakima Valley
(509) 594-7989
Listed By:
Russ Roberts · License #WA 26317
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 10 at 8:13AM
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 KW Commercial Yakima Valley
Investment Insights
Based on property information with market context.
This 4.06-acre parcel, zoned L1 - Light Industrial, offers excellent accessibility just off the main freeway exit in Prosser. The prime corner parcel is located less than 1/3 mile from Prosser Memorial Hospital and approximately 1/2 mile from Interstate 82 Exit, providing outstanding visibility and access for industrial or service-related uses. Improvements include a well-maintained 2,296 SF home built in 2001, which could serve as a potential office or residence, and a 1,104 SF detached garage/shop built in 2009. Additional features include a 30kW standby generator and a 14' high two-bay carport. A private well and septic system are in place. The site provides ample space for future development, including the potential to construct a larger industrial shop, storage yard, or contractor facility. This is a rare opportunity for a flexible live/work or industrial development site in a growing Prosser corridor.
Key Highlights
- 4.06 acre parcel zoned L1 - Light Industrial with excellent accessibility.
- Prime corner location less than 1/2 mile from Interstate 82 Exit, offering outstanding visibility and access.
- Includes a 2,296 SF home (built in 2001) suitable for office or residence.
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
$26,955
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
3.27%
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%
$539,100
$539.1K
Cap Rate 7%
$385,071
$385.1K
Cap Rate 9%
$299,500
$299.5K
Market Conditions
NOI Build-Up for 3,400 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
$44.9K $13.20/SF
− Vacancy
−$3.4K −$1.00/SF
EGI
$41.5K $12.20/SF
− OpEx
−$14.5K −$4.27/SF
NOI
$27.0K $7.93/SF
Area
Benton County, WA
Vacancy
7.60%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$539,100
Cap Rate 7%
$385,071
Cap Rate 9%
$299,500
Alternative Uses
Best Use
Flex RnD
$385.1K
$336.9K – $449.3K
NOI $26,955 @ 7.0% cap · market cap 3.27%
Second Best
Industrial
$285.2K
$249.5K – $332.7K
NOI $19,963 @ 7.0% cap · market cap 2.42%
Theoretical Best
Office A
$943.0K
$825.2K – $1.10M
NOI $66,012 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
31
Businesses Nearby
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 Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial land - 4.06 acre industrial parcel with home and shop.
Where is this industrial land located?
The property is located at 139802 W Johnson Rd Prosser, WA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 4.06 acre parcel zoned L1 - Light Industrial with excellent accessibility.; Prime corner location less than 1/2 mile from Interstate 82 Exit, offering outstanding visibility and access.; Includes a 2,296 SF home (built in 2001) suitable for office or residence.
