Warehouse Distribution Facility with
New
For Sale
$3,950,000
501 Stover Road, Grandview, WA 98930
Commercial facility with office/showroom space, loading access, and regional freight connectivity.
Property Size37,900 SF
Lot Size6.75 Acres
Price / SF$104.22
Days on Market4
Property Features for 501 Stover Road
General Information
Standard status
Active
Size
37,900 SF
Class
C
Lot size
6.75 Acres
Property subtype
IND
Zoning
Commercial
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
20 ft
Office Build-Out
15,200 SF
Drive-In Doors
18
Building Details
Building Size
37,900 SF
Year Built
1994
Buildings
1
Stories
1
Units
1
Listing Agency:
KW Commercial Yakima Valley
(509) 594-7989
Listed By:
Russ Roberts · License #26317
(509) 594-7989
Source:
Realnex
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 4:26AM
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 KW Commercial Yakima Valley
Investment Insights
Based on property information with market context.
This warehouse and distribution property includes approximately 37,900 square feet of improvements on approximately 6.75 acres. The facility offers approximately 20-foot clear heights, 18 grade-level loading doors, and substantial outdoor yard area. Approximately 15,200 SF is configured as office and showroom space for administrative and customer-facing functions. Built in 1994, the property supports warehouse, manufacturing, distribution, equipment storage, and industrial service operations.
The site is immediately adjacent to Interstate 82 Exit 73 at W Stover Road, providing access across Central Washington and toward the Tri-Cities, Yakima, Seattle, Portland, and the broader Pacific Northwest freight network. The surrounding agricultural region includes food processing, cold storage, agricultural manufacturing, transportation, and regional distribution activity.
The site is immediately adjacent to Interstate 82 Exit 73 at W Stover Road, providing access across Central Washington and toward the Tri-Cities, Yakima, Seattle, Portland, and the broader Pacific Northwest freight network. The surrounding agricultural region includes food processing, cold storage, agricultural manufacturing, transportation, and regional distribution activity.
Key Highlights
- Approximately 6.75 acres with approximately 37,900 square feet of improvements
- Approximately 20‑foot clear heights and 18 grade‑level loading doors
- Approximately 15,200 SF of office/showroom 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
$300,373
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
7.60%
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%
$6,007,460
$6.0M
Cap Rate 7%
$4,291,043
$4.3M
Cap Rate 9%
$3,337,478
$3.3M
Market Conditions
NOI Build-Up for 37,900 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
$463.9K $12.24/SF
− Vacancy
−$34.8K −$0.92/SF
EGI
$429.1K $11.32/SF
− OpEx
−$128.7K −$3.40/SF
NOI
$300.4K $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%
$6,007,460
Cap Rate 7%
$4,291,043
Cap Rate 9%
$3,337,478
Alternative Uses
Best Use
Office B
$5.76M
$5.04M – $6.72M
NOI $403,436 @ 7.0% cap · market cap 10.21%
Second Best
Warehouse
$5.21M
$4.56M – $6.08M
NOI $364,738 @ 7.0% cap · market cap 9.23%
Theoretical Best
Office A
$7.70M
$6.73M – $8.98M
NOI $538,762 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
20 ft
Clear height
18
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98930, WA
15,339
Population
4,910
Households
3.1
Avg Household Size
30
Median Age
9%
College-Educated
67%
High-School Grad
44.9 sq mi
ZIP Area
342
Density / Sq Mi
$67,798
Median Household Income
$34,675
Median Earnings
$980
Median Rent
$277,600
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Lineage — 98 Stover Rd, Grandview, WA 98930
Frequently Asked Questions
What type of property is this?
Warehouse - Commercial facility with office/showroom space, loading access, and regional freight connectivity.
Where is this warehouse located?
The property is located at 501 Stover Road Grandview, WA.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Approximately 6.75 acres with approximately 37,900 square feet of improvements; Approximately 20‑foot clear heights and 18 grade‑level loading doors; Approximately 15,200 SF of office/showroom space
