Build-to-Suit Retail
New
For Sale
Contact for pricing
17 N 3rd St, Yakima, WA 98901
Downtown commercial space near civic offices, retail locations, and restaurants.
Property Size4,931 SF
Price / SF$131.62
Days on Market7
Property Features for 17 N 3rd St
General Information
Standard status
Active
Size
4,931 SF
Property subtype
RETAIL
Listing Agency:
John L. Scott Yakima
(509) 952-1726
Listed By:
Josh DeBoer · License #23286
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 10 at 7:02AM
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 John L. Scott Yakima
Investment Insights
Based on property information with market context.
This 4,931-square-foot retail property is offered in a build-to-suit condition, allowing the interior layout to be shaped around the selected concept. The space can accommodate retail, office, coffee shop, restaurant, and other commercial applications identified for the property.
Located at 17 N 3rd St in downtown Yakima, the property is within walking distance of City Hall, the courthouse, multiple retail locations, and popular restaurants. Its central setting places the space within an established mix of civic, commercial, and dining destinations.
Located at 17 N 3rd St in downtown Yakima, the property is within walking distance of City Hall, the courthouse, multiple retail locations, and popular restaurants. Its central setting places the space within an established mix of civic, commercial, and dining destinations.
Key Highlights
- 4,931 square feet of retail space
- Build‑to‑suit opportunity for a customized interior
- Possible applications include retail, office, coffee shop, and restaurant uses
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
$52,489
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
8.09%
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%
$1,049,780
$1.0M
Cap Rate 7%
$749,843
$749.8K
Cap Rate 9%
$583,211
$583.2K
Market Conditions
NOI Build-Up for 4,931 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
$75.1K $15.24/SF
− Vacancy
−$5.2K −$1.05/SF
EGI
$70.0K $14.19/SF
− OpEx
−$17.5K −$3.55/SF
NOI
$52.5K $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 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%
$1,049,780
Cap Rate 7%
$749,843
Cap Rate 9%
$583,211
Alternative Uses
Best Use
Office B
$749.8K
$656.1K – $874.8K
NOI $52,489 @ 7.0% cap · market cap 8.09%
Second Best
Specialty Retail
$716.7K
$627.1K – $836.1K
NOI $50,168 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$1.00M
$876.2K – $1.17M
NOI $70,096 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 98901, WA
32,351
Population
12,201
Households
2.7
Avg Household Size
33
Median Age
17%
College-Educated
72%
High-School Grad
184.5 sq mi
ZIP Area
175
Density / Sq Mi
$56,429
Median Household Income
$33,058
Median Earnings
$996
Median Rent
$268,100
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?
Retail space - Downtown commercial space near civic offices, retail locations, and restaurants.
Where is this retail space located?
The property is located at 17 N 3rd St Yakima, WA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 4,931 square feet of retail space; Build‑to‑suit opportunity for a customized interior; Possible applications include retail, office, coffee shop, and restaurant uses
