Build-to-Suit Storefront
For Sale
$649,000
17 N 3rd Street #102, Yakima, WA 98901
Commercially zoned storefront offering a flexible shell for a new retail, office, or coffee shop concept.
Property Size4,900 SF
Price / SF$132.45
Days on Market13
Property Features for 17 N 3rd Street #102
General Information
Standard status
Active
Size
4,900 SF
Property subtype
Commercial
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$1,600
Building Details
Year Built
1950
Listing Agency:
John L Scott Yakima
(509) 966-9900
Listed By:
Josh M DeBoer · License #23286
(509) 966-9900
Source:
Multifamilyspecialist
Added: Aug 5
Changed: Aug 14
Last Checked: Aug 16 at 4:42PM
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 commercial storefront property provides more than 4,900 square feet for a build-to-suit configuration. The space is offered in its existing condition for a new design and layout, with potential applications identified for retail, office, and coffee shop uses. The property was built in 1950 and carries Commercial zoning.
At 17 N 3rd Street #102, the property is positioned in downtown Yakima within walking distance of City Hall, the Courthouse, multiple retail businesses, and several restaurants. The location supports a range of storefront-oriented concepts while allowing the interior plan to be shaped around the intended operation.
At 17 N 3rd Street #102, the property is positioned in downtown Yakima within walking distance of City Hall, the Courthouse, multiple retail businesses, and several restaurants. The location supports a range of storefront-oriented concepts while allowing the interior plan to be shaped around the intended operation.
Key Highlights
- Over 4900 square feet available for a build‑to‑suit storefront configuration
- Commercial zoning supports the stated retail, office, and coffee shop use possibilities
- Located at 17 N 3rd Street #102 in downtown Yakima
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
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercially zoned storefront offering a flexible shell for a new retail, office, or coffee shop concept.
Where is this storefront property located?
The property is located at 17 N 3rd Street #102 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: Over 4900 square feet available for a build‑to‑suit storefront configuration; Commercial zoning supports the stated retail, office, and coffee shop use possibilities; Located at 17 N 3rd Street #102 in downtown Yakima
