Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Medical/Office Building in Medical Center Title is generated by Realmo AI

    401 S 12th Ave, Yakima, WA 98902

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Affordable medical/office building in the medical center district.

    Type:Office
    Property size:
    10,414 SF
    Price / SF:
    $105/SF
    Added:
    Mar 10, 2026
    Days on Market:
    64
    Last Refresh:
    Mar 19 at 10:33 pm

    Property Features for 401 S 12th Ave

    General Information

    Standard status
    Active
    Size
    10,414 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Bill Almon
    Bill Almon

    Listing agent Bill Almon License #WA 17047

    Listing office Almon Commercial Real Estate

    Listing date Mar 10, 2026

    Source Crexi

    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

    HighLights

    • Located in the medical center district near downtown.
    • Suitable for medical or traditional office use.
    • Features a large dual‑side reception area with significant built‑ins and waiting areas.
    • Includes 11 private exam rooms/offices in the 6,652SF area.
    • Offers an additional 3,572SF area with 7 private offices, bullpen areas, and a conference room.
    • HVAC recently replaced in the former optometrist area.

    Overview

    This property offers the opportunity to purchase an affordable office or medical building located in the medical center district near downtown. The building features approximately 10,414 square feet. It is divided into two areas: one approximately 6,652 square feet, historically occupied by an optometrist and currently configured for continued medical or traditional office use, and another approximately 3,572 square feet. The former optometrist area includes a large dual-side reception area with significant built-ins and waiting areas, along with 11 private exam rooms or offices. The latter area contains 7 private offices, bullpen areas, and a conference room. The HVAC system was recently replaced in the former optometrist area, enhancing the building's appeal for medical or office tenants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Incyte Diagnostics Medical Laboratory Medical Center Labs: ... Medical Laboratory Li Abel w ... Physician Dr. John W. ... Physician Dr. Stephen D. ... Physician

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Companion Animal Clinic — 1202 W Nob Hill Blvd, Yakima, WA 98902

    Location Insight

    • Map
    • Local Demand
    City
    Yakima
    County
    Yakima
    State
    Washington
    Longitude
    -120.5245189
    Latitude
    46.5936019

    Nearby Similar for Sale

    • $389,000
      2,426 SF

      Versatile Event Venue in Yakima

      Adaptable event venue with kitchen, bar, and storage.
      204 S 46th Ave, Yakima, WA 98908
      View Details
    • $379,000
      2,477 SF

      Yakima Fourplex: Turnkey Investment Property

      Fully occupied fourplex in Yakima with recent remodels and strong income.
      705 E Lincoln Ave, Yakima, WA 98901
      View Details
    • $399,000
      1,550 SF

      Yakima Duplex with Rental Appeal

      Westside duplex with strong rental appeal in convenient Yakima location.
      806 & 808 S 35th Ave, Yakima, WA 98902
      View Details
    • $375,000
      2,920 SF

      West Yakima Mixed-Use Investment

      Mixed-use commercial property with three units and immediate income.
      4813 Tieton Drive, Yakima, WA 98908
      View Details
    • $430,000
      2,007 SF

      Yakima Duplex with Updates

      Centrally located duplex with updated units and minimal traffic.
      7209 MacLaren Way, Yakima, WA 98908
      View Details
    • $375,000
      2,920 SF

      West Yakima Mixed-Use Commercial Property

      Versatile property with three units, ideal for investors/owner-users.
      4813 Tieton Dr, Yakima, WA 98908
      View Details
    • $2,400,000
      9,384 SF

      Remodeled Retail Property with Tenant

      Commercial retail property with long-term tenant, remodeled in 2023.
      501 West Lincoln Avenue, Yakima, WA, 98902
      View Details
    • $207,920
      4,931 SF

      Downtown Yakima Retail/Office Opportunity

      Spacious open concept space in growing downtown Yakima.
      17 N 3rd St., Ste 102 St, Yakima, WA
      View Details
    • $999,000
      3,213 SF

      Turnkey Yakima Restaurant Opportunity

      Fully equipped restaurant for sale in Yakima's Revitalization Zone.
      822 N 1st St, Yakima, WA 98901
      View Details
    • $999,900
      6,056 SF

      Well-Maintained Yakima Multifamily Investment

      Eight-unit multifamily property with upside potential in Yakima, Washington.
      1403-1405 Roosevelt Avenue, Yakima, WA 98902
      View Details
    • $845,000
      29,010 SF

      Mixed-Use Building in Downtown Yakima

      Flexible mixed-use commercial building in the heart of downtown Yakima.
      31 N 1st Ave, Yakima, WA 98902
      View Details
    • $5,625,000
      14,738 SF

      Walgreens on Nob Hill Boulevard

      Retail property with long-term lease in Yakima, Washington.
      6400 W Nob Hill Blvd, Yakima, WA 98908
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Affordable medical/office building in the medical center district.
    Where is this medical office space located?
    The property is located at 401 S 12th Ave Yakima, WA.
    What is the asking price?
    The asking price for this property is $1,093,470.
    What are key features of this property?
    This property features: Located in the medical center district near downtown.; Suitable for medical or traditional office use.; Features a **large dual‑side reception area with significant built‑ins and waiting areas.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Bill Almon
    Bill Almon
    Real Estate License ID: WA 17047
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    401 S 12th Ave, Yakima, WA 98902
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!