Mixed-Use Property with Fenced
1507 S 18th Ave, Yakima, WA 98902
For Sale
$429,000
Three lots may be purchased together or separately, with office, storage, shop, and a studio apartment on site.
Property Size1,620 SF
Price / SF$264.81
Days on Market16
Property Features for 1507 S 18th Ave
General Information
Standard status
Size
Zoning
Warehouse & Industrial
Warehouse Space
Office Build-Out
Additional Details
Fenced Yard
Office Units
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
reception desk
kitchenette
common areas
conference room
Building Details
Buildings
Listing Agency:
Kelly Right Real Estate
(509) 489-7000
Listed By:
Shawn Kloster · License WA #83752
(509) 492-2157
Source:
Exprealty
Added: Oct 30
Changed: Nov 13
Last Checked: Nov 12 at 8:26AM
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 Kelly Right Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property combines a 1,528-square-foot office building, a 1,476-square-foot storage building, and a 1,620-square-foot gas-heated shop. The office includes a reception desk, kitchenette, shared areas, conference room, four offices, and one bathroom. Four overhead doors serve the storage building. A studio apartment above the shop has a full bathroom and kitchen, with access from both inside and outside. The shop also has a main-floor bathroom.
A gated, fully fenced yard provides parking. The three lots are available together or separately, and the property is commercially zoned R2.
A gated, fully fenced yard provides parking. The three lots are available together or separately, and the property is commercially zoned R2.
Key Highlights
- Three lots available together or separately
- 1,528‑square‑foot office building with reception, kitchenette, conference room, four offices, and one bathroom
- 1, 476 sq ft storage building with four overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,590
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,800
$311.8K
Cap Rate 7%
$222,714
$222.7K
Cap Rate 9%
$173,222
$173.2K
Market Conditions
NOI Build-Up for 1,620 SF
Gross rent
$19.8K $12.24/SF
− Vacancy
−$1.5K −$0.92/SF
EGI
$18.3K $11.32/SF
− OpEx
−$2.8K −$1.70/SF
NOI
$15.6K $9.62/SF
Area
Yakima County, WA
Vacancy
7.50%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$311,800
Cap Rate 7%
$222,714
Cap Rate 9%
$173,222
Alternative Uses
Best Use
Warehouse
$222.7K
$194.9K – $259.8K
NOI $15,590 @ 7.0% cap · market cap 3.63%
Second Best
Mixed Use
$163.8K
$143.3K – $191.1K
NOI $11,464 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$329.0K
$287.9K – $383.8K
NOI $23,029 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
4
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
452
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three lots may be purchased together or separately, with office, storage, shop, and a studio apartment on site.
Where is this mixed-use property located?
The property is located at 1507 S 18th Ave Yakima, WA.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Three lots available together or separately; 1,528‑square‑foot office building with reception, kitchenette, conference room, four offices, and one bathroom; 1, 476 sq ft storage building with four overhead doors
