Versatile Yakima Property For
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2105 Terrace Heights Dr-Parcel 19132012002, Yakima, WA 98901
Corner property with office and warehouse space in Yakima.
Property Size11,399 SF
Price / SF$114.05
Days on Market1432
Property Features for 2105 Terrace Heights Dr-Parcel 19132012002
General Information
Standard status
Active
Size
11,399 SF
Property subtype
Industrial
Zoning
Commercial General
Listing Agency:
NAI Tri-Cities
(509) 491-2205
Listed By:
Kenny Teasdale · License #135860
Source:
Crexi
Added: Sep 30, 2022
Changed: Aug 23
Last Checked: Aug 30 at 6:28PM
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 NAI Tri-Cities
Investment Insights
Based on property information with market context.
This versatile property is located on a corner in Yakima. It features multiple structures that offer a mix of office and warehouse space, totaling approximately 11,399 square feet. An additional 4,648 square feet of covered carport area is available for fleet, storage, or operational needs. The location benefits from high visibility and signage potential, with approximately 30,000 vehicles passing by daily.
Key Highlights
- Prime corner location in the heart of Yakima.
- High traffic count: ±30,000 vehicles per day, offering outstanding visibility.
- Versatile property with a blend of office and warehouse space.
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
$90,342
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
6.95%
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%
$1,806,840
$1.8M
Cap Rate 7%
$1,290,600
$1.3M
Cap Rate 9%
$1,003,800
$1.0M
Market Conditions
NOI Build-Up for 11,399 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
$139.5K $12.24/SF
− Vacancy
−$10.5K −$0.92/SF
EGI
$129.1K $11.32/SF
− OpEx
−$38.7K −$3.40/SF
NOI
$90.3K $7.93/SF
Area
Yakima County, WA
Vacancy
7.50%
Lease Rate
$12.24 /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%
$1,806,840
Cap Rate 7%
$1,290,600
Cap Rate 9%
$1,003,800
Alternative Uses
Best Use
Industrial
$1.29M
$1.13M – $1.51M
NOI $90,342 @ 7.0% cap · market cap 6.95%
Second Best
Flex RnD
$1.20M
$1.05M – $1.40M
NOI $83,707 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$2.31M
$2.03M – $2.70M
NOI $162,041 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
Well-served
Demand for This Use
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 Industrial 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?
Flex space - Corner property with office and warehouse space in Yakima.
Where is this flex space located?
The property is located at 2105 Terrace Heights Dr-Parcel 19132012002 Yakima, WA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime corner location in the heart of Yakima.; High traffic count: **±30,000 vehicles per day, offering outstanding visibility.**; Versatile property with a blend of office and warehouse space.
