Yakima Medical Facility For
504 North 40th Avenue, Yakima, WA 98908
Call to check price and availability
Well-equipped medical facility leased to MultiCare Hospital until March 2027.
Type:Office
Property size:
18,591 SFLot size:
1.31 AcresPrice / SF:
$150/SF- Added:
- May 20, 2026
- Days on Market:
- 8
- Last Refresh:
- May 20 at 5:02 am
Property Features for 504 North 40th Avenue
General Information
- Standard status
- Active
- Size
- 18,591 SF
- Lot size
- 1.31 Acres
- Property subtype
- Office
Listing agent Russ Roberts License #WA 26317
Listing office KW Commercial Yakima Valley (509) 594-7989
Listing date May 20, 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 KW Commercial Yakima Valley
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.
- Zoned B‑1, allowing for multiple uses beyond medical.
- Ample parking with 70 designated spaces.
- Includes finished ground floor (12,083 sq. ft.) and finished basement (2,730 sq. ft.), plus unfinished basement (3,778 sq. ft.).
Overview
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.
Financial Insights
Value Estimation Calculated for Healthcare Medical
Conservative
$2.20M
NOI $198,208 @ 9.00% cap · cautious / downside scenario
Moderate
$2.83M
NOI $198,208 @ 7.00% cap · market / base-case scenario
Aggressive
$3.96M
NOI $198,208 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Healthcare Medical
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $354.7k | $19.08 |
| − Vacancy | −$24.4k | −$1.31 |
| EGI | $330.3k | $17.77 |
| − OpEx | −$132.1k | −$7.11 |
| NOI | $198.2k | $10.66 |
18,591 SF · lease $19.08/SF/yr · vacancy 6.87% · expense 40.00%
Alternative Use Scenarios
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 local authorities.
Location Intelligence
Current Use by Public Records
Family Medicine of Yakima: ...
Pediatrician
Mindy Udell
Physician
Kial Wiley
Pediatrician
Midhuna Papazian
Pediatrician
Family Medicine of Yakima: ...
Pediatrician
Location Insight
- Map
- Local Demand
- City
- Yakima
- County
- Yakima
- State
- Washington
- Longitude
- -120.5632392
- Latitude
- 46.6056971
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FAQs
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.
