Yakima Medical Facility For
For Sale
Contact for pricing
504 North 40th Avenue, Yakima, WA 98908
Well-equipped medical facility leased to MultiCare Hospital until March 2027.
Property Size18,591 SF
Lot Size1.31 Acres
Price / SF$150.61
Days on Market144
Property Features for 504 North 40th Avenue
General Information
Standard status
Active
Size
18,591 SF
Class
B
Total Parking Spaces
70
Lot size
1.31 Acres
Property subtype
Office
Zoning
B-1
Investment Type
Owner/User
Building Details
Buildings
1
Units
70
Tenancy
Single
Listing Agency:
KW Commercial Yakima Valley
Listed By:
Russ Roberts · License #WA 26317
(509) 594-7989
Source:
Crexi
Added: May 20
Changed: Sep 29
Last Checked: Oct 9 at 6:17PM
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 18,591 sq. ft. medical facility is an investment opportunity for an owner/user in the medical field. Located on North 40th Avenue in Yakima, the property is situated on a 1.31-acre lot zoned B-1, allowing for multiple uses. The building features 12,083 sq. ft. of finished ground floor space, 2,730 sq. ft. of finished basement space, and 3,778 sq. ft. of unfinished basement space. The layout includes 27 exam rooms, a private lab, 2 procedure rooms, 7 private offices, a breakroom, a conference room, and a gym. The property has 70 designated parking spaces. Infrastructure features include a metal roof and a fully sprinkled interior. There is reserved space for a future basement elevator. The property is currently leased to MultiCare Hospital through March 2027.
Key Highlights
- Leased to MultiCare Hospital through March 2027, providing immediate income.
- 18,591 sq. ft. medical facility optimized for healthcare with 27 exam rooms, private lab, and procedure rooms.
- Located on Yakima's North 40th, the 2nd most traveled street in Yakima.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$198,208
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,964,160
$4.0M
Cap Rate 7%
$2,831,543
$2.8M
Cap Rate 9%
$2,202,311
$2.2M
Market Conditions
NOI Build-Up for 18,591 SF
Gross rent
$354.7K $19.08/SF
− Vacancy
−$24.4K −$1.31/SF
EGI
$330.3K $17.77/SF
− OpEx
−$132.1K −$7.11/SF
NOI
$198.2K $10.66/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,964,160
Cap Rate 7%
$2,831,543
Cap Rate 9%
$2,202,311
Alternative Uses
Best Use
Healthcare Medical
$2.83M
$2.48M – $3.30M
NOI $198,208 @ 7.0% cap · market cap 7.08%
Second Best
Office B
$2.83M
$2.47M – $3.30M
NOI $197,897 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$3.78M
$3.30M – $4.40M
NOI $264,278 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98908, WA
38,205
Population
15,496
Households
2.5
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
105.7 sq mi
ZIP Area
361
Density / Sq Mi
$80,266
Median Household Income
$43,789
Median Earnings
$1,302
Median Rent
$356,900
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?
Medical Office Space - Well-equipped medical facility leased to MultiCare Hospital until March 2027.
Where is this medical office space located?
The property is located at 504 North 40th Avenue Yakima, WA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Leased to MultiCare Hospital through March 2027, providing immediate income.; 18,591 sq. ft. medical facility optimized for healthcare with **27 exam rooms, private lab, and procedure rooms**.; Located on Yakima's North 40th, the 2nd most traveled street in Yakima.
