Event Venue with Equipped
For Sale
$389,000
204 46th Ave, Yakima, WA 98908
Versatile event hall offering flexible interior space with an equipped kitchen, built-in bar, and dedicated storage building.
Property Size2,426 SF
Price / SF$160.35
Days on Market320
Property Features for 204 46th Ave
General Information
Standard status
Active
Size
2,426 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,908
Amenities
Central Air
3
Tile, Concrete
Metal
18090.0, 18090.0
Shed, Extra Storage.
Building Details
Year Built
1955
Listing Agency:
Kelly Right Real Estate of TC
(509) 930-9361
Listed By:
Humberto (Beto) Mendoza · License #35581
(509) 930-9361
Source:
Xome
Added: Sep 24, 2025
Changed: Aug 8
Last Checked: Aug 9 at 4:49AM
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 of TC
Investment Insights
Based on property information with market context.
Stallion Fiesta Hall is a versatile event venue with approximately 2,426 sq ft of flexible indoor space. The layout includes space for dancing, an equipped kitchen with a food-serving bar, and a dedicated bar/pub-style area with a built-in bar and back bar cooler. A fireplace is also featured to add character to the setting, and the space is described as adaptable for different event configurations and customization.
The property also includes a 502 sq ft storage building for added convenience.
Overall, the offering is configured for events with built-in food service and bar operations, while still allowing the main hall to be arranged to fit changing needs.
The property also includes a 502 sq ft storage building for added convenience.
Overall, the offering is configured for events with built-in food service and bar operations, while still allowing the main hall to be arranged to fit changing needs.
Key Highlights
- Versatile event venue with approximately 2,426 sq ft of flexible interior space
- Equipped kitchen with a food‑serving bar
- Dedicated bar/pub‑style area with built‑in bar and back bar cooler
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
$24,682
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
6.34%
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%
$493,640
$493.6K
Cap Rate 7%
$352,600
$352.6K
Cap Rate 9%
$274,244
$274.2K
Market Conditions
NOI Build-Up for 2,426 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
$34.4K $14.16/SF
− Vacancy
−$1.4K −$0.59/SF
EGI
$32.9K $13.57/SF
− OpEx
−$8.2K −$3.39/SF
NOI
$24.7K $10.17/SF
Area
Yakima County, WA
Vacancy
4.20%
Lease Rate
$14.16 /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%
$493,640
Cap Rate 7%
$352,600
Cap Rate 9%
$274,244
Alternative Uses
Best Use
Specialty Retail
$352.6K
$308.5K – $411.4K
NOI $24,682 @ 7.0% cap · market cap 6.34%
Second Best
Industrial
$274.7K
$240.3K – $320.5K
NOI $19,227 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$492.7K
$431.1K – $574.8K
NOI $34,486 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
729
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Arctic Circle
Dining
10,442 visits/mo
0.3 miles
O'Reilly Auto Parts
Shops & Services
5,852 visits/mo
0.3 miles
Chevron
Shops & Services
2,829 visits/mo
0.5 miles
Baskin-Robbins
Dining
2,775 visits/mo
0.4 miles
AutoZone
Shops & Services
2,457 visits/mo
0.5 miles
Demographics for 98908, WA
38,205
Population
15,496
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
105.7 sq mi
ZIP Area
361
Density / Sq Mi
$80,266
Median Household Income
$43,789
Median Earnings
$1,302
Median Rent
$356,900
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?
Bar & Pub - Versatile event hall offering flexible interior space with an equipped kitchen, built-in bar, and dedicated storage building.
Where is this bar & pub located?
The property is located at 204 46th Ave Yakima, WA.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Versatile event venue with approximately 2,426 sq ft of flexible interior space; Equipped kitchen with a food‑serving bar; Dedicated bar/pub‑style area with built‑in bar and back bar cooler
