Historic Two-Level Office
For Sale
$415,000
314 North 2nd Street, Yakima, WA 98901
Professional office use spans two functional levels with additional basement and attic areas.
Property Size3,456 SF
Lot Size0.47 Acres
Price / SF$120.08
Days on Market47
Property Features for 314 North 2nd Street
General Information
Standard status
Active
Size
3,456 SF
Class
C
Lot size
0.47 Acres
Property subtype
Office - General Office
Zoning
B-1
Additional Details
Asking Price
$415,000
Building Details
Building Size
3,456 SF
Year Built
1899
Buildings
1
Stories
2
Construction
Victorian
Listing Agency:
Almon Commercial Real Estate
Listed By:
Chris Sentz · License #122205
(509) 969-8747
Source:
Commercialcafe
Added: Sep 1
Changed: Oct 16
Last Checked: Oct 16 at 5:55AM
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 Almon Commercial Real Estate
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Investment Insights
Based on property information with market context.
Built in 1899, this Victorian-style property contains approximately 3,456 square feet of professional office space across two functional levels. Each level measures approximately 1,728 square feet, with basement and attic areas excluded from those figures. The building has supported professional office operations for decades and retains architectural character associated with its original residential design.
The property occupies approximately 0.47 acres at the corner of North 2nd Street and East D Street in downtown Yakima. B-1 Professional Business zoning supports its established office setting. Its location provides access to the Yakima County Courthouse, government offices, downtown businesses, and other professional services.
The property occupies approximately 0.47 acres at the corner of North 2nd Street and East D Street in downtown Yakima. B-1 Professional Business zoning supports its established office setting. Its location provides access to the Yakima County Courthouse, government offices, downtown businesses, and other professional services.
Key Highlights
- Approximately 3,456 SF of professional office space
- Two office levels of approximately 1,728 SF each
- Built in 1899 with Victorian‑style architectural character
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,788
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,760
$735.8K
Cap Rate 7%
$525,543
$525.5K
Cap Rate 9%
$408,756
$408.8K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$52.7K $15.24/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$49.1K $14.19/SF
− OpEx
−$12.3K −$3.55/SF
NOI
$36.8K $10.64/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$735,760
Cap Rate 7%
$525,543
Cap Rate 9%
$408,756
Alternative Uses
Best Use
Office B
$525.5K
$459.9K – $613.1K
NOI $36,788 @ 7.0% cap · market cap 8.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$701.8K
$614.1K – $818.8K
NOI $49,128 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,716
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Professional office use spans two functional levels with additional basement and attic areas.
Where is this office building located?
The property is located at 314 North 2nd Street Yakima, WA.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Approximately 3,456 SF of professional office space; Two office levels of approximately 1,728 SF each; Built in 1899 with Victorian‑style architectural character
