Retail Investment
For Sale
$774,000
301 S 1st St, Yakima, WA 98901
For sale retail asset offering a stated 2,315 SF size and a 6.00% cap rate.
Property Size2,315 SF
Price / SF$334.34
Days on Market148
Property Features for 301 S 1st St
General Information
Standard status
Active
Size
2,315 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
± 6.70 Years
Net Operating Income
$58,080
Additional Details
Cap Rate
6%
Building Details
Building Size
2,315 SF
Year Built
1983
Listing Agency:
Matthews Real Estate Investment Services
Listed By:
Jack Kulick · License #02126798 (CA)
(310) 919-5711
Source:
Matthews
Added: Apr 11
Changed: Sep 3
Last Checked: Sep 5 at 3:34AM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This for-sale retail property is presented as an investment opportunity, with public remarks indicating a 6.00% cap rate and approximately 2,315 SF of retail space.
The property is located at 301 S 1st St in Yakima, Washington (98901).
The property is located at 301 S 1st St in Yakima, Washington (98901).
Key Highlights
- Retail asset for sale with a stated 2,315 SF size
- Stated 6.00% cap rate
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
$23,473
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
3.03%
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%
$469,460
$469.5K
Cap Rate 7%
$335,329
$335.3K
Cap Rate 9%
$260,811
$260.8K
Market Conditions
NOI Build-Up for 2,315 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
$35.0K $15.12/SF
− Vacancy
−$1.5K −$0.64/SF
EGI
$33.5K $14.48/SF
− OpEx
−$10.1K −$4.35/SF
NOI
$23.5K $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%
$469,460
Cap Rate 7%
$335,329
Cap Rate 9%
$260,811
Alternative Uses
Best Use
Retail
$335.3K
$293.4K – $391.2K
NOI $23,473 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$470.1K
$411.4K – $548.5K
NOI $32,909 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,716
Businesses Nearby
121k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 31%
Hotels & Casinos 3%
Home Improvements & Furnishings 2%
Olive Garden
Dining
27,085 visits/mo
0.4 miles
McDonald's
Dining
25,346 visits/mo
0.3 miles
Dutch Bros. Coffee
Dining
11,694 visits/mo
0.1 miles
Starbucks
Dining
10,776 visits/mo
0.5 miles
Chase Bank
Shops & Services
9,730 visits/mo
0.3 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - For sale retail asset offering a stated 2,315 SF size and a 6.00% cap rate.
Where is this retail space located?
The property is located at 301 S 1st St Yakima, WA.
What is the asking price?
The asking price for this property is $774,000.
What are key features of this property?
This property features: Retail asset for sale with a stated 2,315 SF size; Stated 6.00% cap rate
