Improved Industrial
For Sale
$825,000
139802 W Johnson Rd, Prosser, WA 99350
Comm/Industrial, Prosser, WA
Property Size3,400 SF
Lot Size4.06 Acres
Price / SF$242.65
Days on Market194
Property Features for 139802 W Johnson Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
OTH - Agt Remrk
Lot features
Level, Corner, Paved Road
Directions
From Interstate 82, take Exit 82 for Wine Country Rd/WA-221 toward Prosser. Head north on Wine Country Rd for approximately 0.4 miles, then turn left onto W Johnson Rd. Continue west for about 0.3 miles. Property is on the left at 139802 W Johnson Rd.
Subdivision
13O - Prosser
Standard status
Active
APN
126943020008000
Size
3,400 SF
Lot size
4.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
3811
Utilities
Heating system
Forced Air
Cooling system
Central Air, Humidity Control
Water source
Private
Building Details
Year built
2001
Flooring type
Tile, Carpet, Vinyl
Roof type
Composition
Listing Agency:
Keller Williams Yakima Valley · Keller Williams Realty
(509) 966-1020
Listed By:
Russ Roberts, · License #26317
(509) 949-2192
Added: Feb 25
Changed: Sep 5
Last Checked: Sep 7 at 3:06PM
MLS# 26-596
Copyright © 2026 Yakima Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This L1 Light Industrial parcel includes a 2,296-square-foot home built in 2001 and a 1,104-square-foot detached garage/shop completed in 2009. The existing improvements provide a combination of enclosed space and covered vehicle storage, including a 14-foot-high, two-bay carport. A 30kW standby generator, private well, and septic system are also in place. The home may accommodate office or residential use, subject to applicable requirements.
The property is positioned on a corner near the main freeway exit in Prosser, less than 1/3 mile from Prosser Memorial Hospital and approximately 1/2 mile from Interstate 82 Exit. Tile, carpet, and vinyl flooring, forced-air heating, central air, and humidity control are among the existing building features. The site is suited to consideration for industrial, service-related, live/work, storage, or contractor-oriented development.
The property is positioned on a corner near the main freeway exit in Prosser, less than 1/3 mile from Prosser Memorial Hospital and approximately 1/2 mile from Interstate 82 Exit. Tile, carpet, and vinyl flooring, forced-air heating, central air, and humidity control are among the existing building features. The site is suited to consideration for industrial, service-related, live/work, storage, or contractor-oriented development.
Key Highlights
- L1 Light Industrial zoning
- 2,296 SF home built in 2001
- 1,104 SF detached garage/shop built in 2009
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
$52,190
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
6.33%
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%
$1,043,800
$1.0M
Cap Rate 7%
$745,571
$745.6K
Cap Rate 9%
$579,889
$579.9K
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
$74.7K $21.96/SF
− Vacancy
−$5.1K −$1.49/SF
EGI
$69.6K $20.47/SF
− OpEx
−$17.4K −$5.12/SF
NOI
$52.2K $15.35/SF
Area
Benton County, WA
Vacancy
6.80%
Lease Rate
$21.96 /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%
$1,043,800
Cap Rate 7%
$745,571
Cap Rate 9%
$579,889
Alternative Uses
Best Use
Office B
$745.6K
$652.4K – $869.8K
NOI $52,190 @ 7.0% cap · market cap 6.33%
Second Best
Mixed Use
$392.1K
$343.1K – $457.5K
NOI $27,448 @ 7.0% cap · market cap 3.33%
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Industrial land - L1-zoned land includes a home, detached shop, generator, and covered vehicle storage near Interstate 82 access.
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: L1 Light Industrial zoning; 2,296 SF home built in 2001; 1,104 SF detached garage/shop built in 2009
