Two-Story Office
For Sale
$299,900
Pending
3805 W Tieton Dr, Yakima, WA 98902
Comm/Industrial, Yakima, WA
Property Size1,509 SF
Lot Size0.23 Acres
Days on Market49
Property Features for 3805 W Tieton Dr
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
B1 - Prof Bus
Lot features
Fenced Back, Level, Bus Line, Sprinkler System, Sprinkler Full, Paved Road
Directions
West on Tieton Drive to property on the right, just East of the Veteranary Office.
Subdivision
3B - Btwn S 16th/40th
Standard status
Pending
APN
181322-43023
Size
1,509 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2544
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1950
Flooring type
Tile, Carpet
Building materials
Block
Roof type
Composition
Listing Agency:
Keller Williams Yakima Valley · Keller Williams Realty
(509) 966-1020
Listed By:
Lanette Headley
(509) 949-2192
Added: Aug 17
Changed: Oct 1
Last Checked: Oct 4 at 4:06PM
MLS# 26-2509
Copyright © 2026 Yakima Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story office building contains approximately 1,509 square feet, with 1,009 square feet on the main level and approximately 500 square feet upstairs. The block-construction property includes two established office areas, an updated kitchen with appliances, an updated bathroom, newer floor coverings, and a mix of carpet and tile flooring. The upper level adds adaptable space for office, meeting, or storage functions. Vinyl windows bring natural light into portions of the building, while natural-gas forced-air heat supports the interior. Built in 1950, the property is served by public water and sewer and includes irrigation water through the Walnut Water Users Association.
Located at 3805 W Tieton Dr in Yakima, the property has frontage along a four-lane arterial. The B-1 Professional Business zoning, fenced backyard with patio, and 0.23-acre front lot provide additional functional features for professional office use. The front lot may support additional off-street parking, subject to applicable requirements and approvals.
Located at 3805 W Tieton Dr in Yakima, the property has frontage along a four-lane arterial. The B-1 Professional Business zoning, fenced backyard with patio, and 0.23-acre front lot provide additional functional features for professional office use. The front lot may support additional off-street parking, subject to applicable requirements and approvals.
Key Highlights
- B‑1 Professional Business zoning
- Approximately 1,509 SF across two levels, including 1,009 SF main level and approximately 500 SF upper level
- 0.23‑acre lot at 3805 W Tieton Dr, Yakima, WA 98902
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
$16,063
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
5.36%
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%
$321,260
$321.3K
Cap Rate 7%
$229,471
$229.5K
Cap Rate 9%
$178,478
$178.5K
Market Conditions
NOI Build-Up for 1,509 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
$23.0K $15.24/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$21.4K $14.19/SF
− OpEx
−$5.4K −$3.55/SF
NOI
$16.1K $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 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%
$321,260
Cap Rate 7%
$229,471
Cap Rate 9%
$178,478
Alternative Uses
Best Use
Office B
$229.5K
$200.8K – $267.7K
NOI $16,063 @ 7.0% cap · market cap 5.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$306.4K
$268.1K – $357.5K
NOI $21,451 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,135
Businesses Nearby
Explore this area
Business Placement
Demographics for 98902, WA
47,589
Population
17,723
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
78%
High-School Grad
9.3 sq mi
ZIP Area
5,117
Density / Sq Mi
$60,050
Median Household Income
$36,900
Median Earnings
$1,045
Median Rent
$237,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - B-1-zoned office property with updated interiors, flexible workspace, and frontage along a four-lane arterial.
Where is this office building located?
The property is located at 3805 W Tieton Dr Yakima, WA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: B‑1 Professional Business zoning; Approximately 1,509 SF across two levels, including 1,009 SF main level and approximately 500 SF upper level; 0.23‑acre lot at 3805 W Tieton Dr, Yakima, WA 98902
