Light Industrial Flex
For Sale
$540,000
506 E Stover, Grandview, WA 98930
Commercial Sale, Grandview, WA
Property Size3,000 SF
Lot Size0.73 Acres
Price / SF$180
Days on Market93
Property Features for 506 E Stover
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
INDUST /LIGHT
Parking
21
Directions
GPS
Standard status
Active
APN
23091522410
Size
3,000 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Year
2026
Building Details
Year built
2024
Listing Agency:
eXp Realty, LLC
(888) 317-5197
Listed By:
Anwar Nassar · License #21012326
(509) 840-1323
Added: Jul 12
Changed: Sep 30
Last Checked: Oct 12 at 2:06PM
MLS# 294622
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2024, this 3,000-square-foot light industrial property occupies 0.73 acres and offers a flexible commercial configuration. The building previously served as a construction company office and is currently operated as a banquet hall, providing an established interior layout for a range of business needs.
Located at 506 E Stover in Grandview, Washington, the property includes room for parking or expansion. INDUST /LIGHT zoning is in place, and the site offers an owner-user setting for a business seeking a combination of building area and land.
Located at 506 E Stover in Grandview, Washington, the property includes room for parking or expansion. INDUST /LIGHT zoning is in place, and the site offers an owner-user setting for a business seeking a combination of building area and land.
Key Highlights
- 3,000‑square‑foot light industrial property on 0.73 acres
- INDUST /LIGHT zoning
- Built in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,934
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,680
$638.7K
Cap Rate 7%
$456,200
$456.2K
Cap Rate 9%
$354,822
$354.8K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$45.7K $15.24/SF
− Vacancy
−$3.1K −$1.05/SF
EGI
$42.6K $14.19/SF
− OpEx
−$10.6K −$3.55/SF
NOI
$31.9K $10.64/SF
Area
Yakima County, WA
Vacancy
6.87%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,680
Cap Rate 7%
$456,200
Cap Rate 9%
$354,822
Alternative Uses
Best Use
Office B
$456.2K
$399.2K – $532.2K
NOI $31,934 @ 7.0% cap · market cap 5.91%
Second Best
Industrial
$339.7K
$297.2K – $396.3K
NOI $23,776 @ 7.0% cap · market cap 4.40%
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
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Current Use
Location Intelligence
Trade Area within ½ mile
99
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
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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?
Flex space - INDUST /LIGHT zoning complements an adaptable commercial layout with room for parking or expansion.
Where is this flex space located?
The property is located at 506 E Stover 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‑square‑foot light industrial property on 0.73 acres; INDUST /LIGHT zoning; Built in 2024
