Flex Industrial
For Sale
$540,000
506 E Stover Rd, Grandview, WA 98930
Light industrial building with flexible layout and multiple use histories on a sizable lot.
Property Size3,000 SF
Lot Size0.73 Acres
Price / SF$180
Days on Market112
Property Features for 506 E Stover Rd
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.73 Acres
Listing Agency:
eXp Realty, LLC
(888) 317-5197
Listed By:
Anwar Nassar · License #21012326
(509) 840-1323
Source:
Exprealty
Added: Jul 12
Changed: Oct 31
Last Checked: Oct 30 at 4:11PM
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 eXp Realty, LLC
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Investment Insights
Based on property information with market context.
This versatile light industrial property offers a functional interior layout in a 3,000-square-foot building. The site sits on 0.73 acres, and the property has been used as a banquet hall. The building has also previously operated as a construction company office, and the current owners had plans to convert the site into a daycare, underscoring its flexibility for different commercial or industrial concepts.
The property is located at 506 E Stover Rd in Grandview, WA. Public remarks indicate ample space for parking or potential expansion, and buyers should confirm all information to their satisfaction.
For buyers seeking an owner-occupant or redevelopment-style asset, this property is presented as a ready-to-fit building with room for site adjustments, subject to verification of all details during due diligence.
The property is located at 506 E Stover Rd in Grandview, WA. Public remarks indicate ample space for parking or potential expansion, and buyers should confirm all information to their satisfaction.
For buyers seeking an owner-occupant or redevelopment-style asset, this property is presented as a ready-to-fit building with room for site adjustments, subject to verification of all details during due diligence.
Key Highlights
- 3,000 SF light industrial building on 0.73 acres in Grandview
- Previously used as a construction company office; currently used as a banquet hall
- Flexible layout suited for a variety of commercial or industrial uses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,776
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$475,520
$475.5K
Cap Rate 7%
$339,657
$339.7K
Cap Rate 9%
$264,178
$264.2K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$36.7K $12.24/SF
− Vacancy
−$2.8K −$0.92/SF
EGI
$34.0K $11.32/SF
− OpEx
−$10.2K −$3.40/SF
NOI
$23.8K $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 Rate 5%
$475,520
Cap Rate 7%
$339,657
Cap Rate 9%
$264,178
Alternative Uses
Best Use
Industrial
$339.7K
$297.2K – $396.3K
NOI $23,776 @ 7.0% cap · market cap 4.40%
Second Best
Flex RnD
$314.7K
$275.4K – $367.2K
NOI $22,030 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$609.2K
$533.1K – $710.8K
NOI $42,646 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Light industrial building with flexible layout and multiple use histories on a sizable lot.
Where is this flex space located?
The property is located at 506 E Stover Rd Grandview, WA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: 3,000 SF light industrial building on 0.73 acres in Grandview; Previously used as a construction company office; currently used as a banquet hall; Flexible layout suited for a variety of commercial or industrial uses
