Building Details

Year Built 1959

Buildings 1

Building Size 3,410 SF

Listing Agency: Keller Williams Yakima Valley Show Phone

Listed By: Russell Roberts, CCIM Show Phone

Source: Moodyscre

Added: Oct 9 Changed: Oct 13 Last Checked: Oct 16 at 9:25AM

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Investment Insights

Based on property information with market context.

This 3,410-square-foot office building, constructed in 1959, sits on a 0.19-acre lot in Yakima. Its interior includes 10 private offices, four larger meeting or gathering areas, two kitchens and three bathrooms. A doorway in the main hall divides the building into two sections, allowing an owner-user to occupy one side while leasing the other, or accommodating multiple tenants.

The property has a fenced backyard and installed fiber internet. It is zoned R-3.

Key Highlights

• 3,410 SF office building constructed in 1959
• 10 individual offices and 4 larger meeting or gathering areas
• Hall doorway separates the building into two sides

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,299

Cap Rate

6.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$725,980 $726.0K

Cap Rate 7%

$518,557 $518.6K

Cap Rate 9%

$403,322 $403.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,410 SF

Gross rent

$52.0K $15.24/SF

− Vacancy

−$3.6K −$1.05/SF

EGI

$48.4K $14.19/SF

− OpEx

−$12.1K −$3.55/SF

NOI

$36.3K $10.64/SF

Area

Yakima County, WA

Vacancy

6.87%

Lease Rate

$15.24 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$725,980

Cap Rate 7%

$518,557

Cap Rate 9%

$403,322

Alternative Uses

Best Use

Office B

$518.6K

$453.7K – $605.0K (±1% cap)

NOI $36,299 @ 7.0% cap · market cap 6.91%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$692.5K

$605.9K – $807.9K (±1% cap)

NOI $48,474 @ 7.0% cap · market cap 9.23%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Digital Vendetta Productions Film Production

Suggested Use

Top Pick Parking Lot & Garage Pet Grooming Service (Bike/Boat/Book/etc) Store Florist Locksmith Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10

Office units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,643

Businesses Nearby

Explore this area Business Placement

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 Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - A hall doorway divides the building into two sections for separate occupancy or use by multiple tenants.

Where is this office building located?

The property is located at 1402 W Yakima Ave Yakima, WA.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: 3,410 SF office building constructed in 1959; 10 individual offices and 4 larger meeting or gathering areas; Hall doorway separates the building into two sides