Build-to-Suit Storefront
For Sale
$649,000
17 N 3rd St, Yakima, WA 98901
Commercial Sale, Yakima, WA
Property Size4,900 SF
Lot Size0.11 Acres
Price / SF$132.45
Days on Market51
Property Features for 17 N 3rd St
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Central Bus Dist. Support
Directions
Yakima Ave N on N 3rd St to address on the right
Standard status
Active
APN
19131921516
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
1600
Utilities
Water source
Public
Building Details
Year built
1950
Listing Agency:
John L Scott Yakima
(509) 966-9900
Listed By:
Josh DeBoer · License #23286
(509) 952-1726
Added: Aug 5
Changed: Sep 17
Last Checked: Sep 24 at 8:06AM
MLS# 295283
Copyright © 2026 PACMLS. 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 commercial storefront property at 17 N 3rd St offers a build-to-suit format for a buyer or tenant seeking to shape the space around a new concept. The property dates to 1950, includes public water service, and is situated on a 0.11-acre parcel. Central Bus Dist. Support zoning is in place.
The property is in downtown Yakima, with City Hall, the courthouse, retail locations, and restaurants within walking distance. The site is available for sale or lease and may accommodate concepts such as a coffee shop, retail operation, or office use, subject to applicable approvals.
The property is in downtown Yakima, with City Hall, the courthouse, retail locations, and restaurants within walking distance. The site is available for sale or lease and may accommodate concepts such as a coffee shop, retail operation, or office use, subject to applicable approvals.
Key Highlights
- Build‑to‑suit storefront opportunity at 17 N 3rd St
- 0.11‑acre parcel in downtown Yakima
- Central Bus Dist. Support zoning
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
$49,683
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
7.66%
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%
$993,660
$993.7K
Cap Rate 7%
$709,757
$709.8K
Cap Rate 9%
$552,033
$552.0K
Market Conditions
NOI Build-Up for 4,900 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
$74.1K $15.12/SF
− Vacancy
−$3.1K −$0.64/SF
EGI
$71.0K $14.48/SF
− OpEx
−$21.3K −$4.35/SF
NOI
$49.7K $10.14/SF
Area
Yakima County, WA
Vacancy
4.20%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
30.00%
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%
$993,660
Cap Rate 7%
$709,757
Cap Rate 9%
$552,033
Alternative Uses
Best Use
Retail
$709.8K
$621.0K – $828.1K
NOI $49,683 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$995.1K
$870.7K – $1.16M
NOI $69,655 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,734
Businesses Nearby
159k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 57%
Shops & Services 36%
Hotels & Casinos 4%
Home Improvements & Furnishings 2%
Olive Garden
Dining
27,085 visits/mo
0.1 miles
McDonald's
Dining
25,346 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
11,694 visits/mo
0.3 miles
Starbucks
Dining
10,776 visits/mo
0.3 miles
Taco Bell
Dining
9,780 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with public water service and Central Bus Dist. Support zoning in downtown Yakima.
Where is this storefront property 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: Build‑to‑suit storefront opportunity at 17 N 3rd St; 0.11‑acre parcel in downtown Yakima; Central Bus Dist. Support zoning
