Auto Shop with Paint
New
For Sale
$710,000
607/609 S 1st St, Yakima, WA 98901
Automotive facility with collision-repair improvements, service bays, and an adjoining parcel for vehicle-related operations.
Property Size6,500 SF
Days on Market7
Property Features for 607/609 S 1st St
General Information
Standard status
Active
Size
6,500 SF
Property subtype
Retail
Building Details
Building Size
6,500 SF
Year Built
1935
Listing Agency:
Almon Commercial Real Estate
(509) 480-0733
Listed By:
Nick Mayer · License #90998
Source:
Commercialcafe
Added: Aug 25
Changed: Aug 31
Last Checked: Aug 31 at 1:45PM
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 Almon Commercial Real Estate
Investment Insights
Based on property information with market context.
The property includes a 6,500-square-foot automotive building constructed in 1935, with improvements for collision repair, refinishing, and general automotive sales or service. On-site features include a paint booth, vehicle lift, four grade-level roll-up doors measuring 10 feet by 12 feet, bay access, and installed power.
The offering also includes an adjacent parcel that can support parking, vehicle storage, or an auto sales lot. Located at 607/609 S 1st St in Yakima, Washington, the two-parcel configuration combines an operating automotive facility with additional land for vehicle-oriented use.
The offering also includes an adjacent parcel that can support parking, vehicle storage, or an auto sales lot. Located at 607/609 S 1st St in Yakima, Washington, the two-parcel configuration combines an operating automotive facility with additional land for vehicle-oriented use.
Key Highlights
- 6,500 SF automotive building constructed in 1935
- Paint booth and vehicle lift included
- Configured for collision repair, refinishing, and general automotive sales or service
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
$51,515
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
7.26%
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%
$1,030,300
$1.0M
Cap Rate 7%
$735,929
$735.9K
Cap Rate 9%
$572,389
$572.4K
Market Conditions
NOI Build-Up for 6,500 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
$79.6K $12.24/SF
− Vacancy
−$6.0K −$0.92/SF
EGI
$73.6K $11.32/SF
− OpEx
−$22.1K −$3.40/SF
NOI
$51.5K $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%
$1,030,300
Cap Rate 7%
$735,929
Cap Rate 9%
$572,389
Alternative Uses
Best Use
Retail
$941.5K
$823.8K – $1.10M
NOI $65,907 @ 7.0% cap · market cap 9.28%
Second Best
Industrial
$735.9K
$643.9K – $858.6K
NOI $51,515 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,400 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,095
Businesses Nearby
14k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Electronics 8%
U-Haul
Shops & Services
3,078 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
2,799 visits/mo
0.1 miles
Firestone Complete Auto Care
Shops & Services
2,413 visits/mo
0.4 miles
Valley Ford Sales, Inc
Shops & Services
1,562 visits/mo
0.2 miles
Jiffy Lube
Shops & Services
869 visits/mo
0.3 miles
Demographics for 98901, WA
32,351
Population
12,201
Households
2.7
Avg Household Size
33
Median Age
17%
College-Educated
72%
High-School Grad
184.5 sq mi
ZIP Area
175
Density / Sq Mi
$56,429
Median Household Income
$33,058
Median Earnings
$996
Median Rent
$268,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Jasper Engines & Transmissions — 1019 S 3rd Ave, Yakima, WA 98902
- Quick Lube And Auto Repair, LLC — 1019 S 3rd Ave, Yakima, WA 98902
- Bpr Performance — Yakima, WA 98901
- Bonnie & Clyde's Muffler Center — 105 E Nob Hill Blvd, Yakima, WA 98901
- Alliance Auto Tires — 702 E Nob Hill Blvd, Yakima, WA 98901
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive facility with collision-repair improvements, service bays, and an adjoining parcel for vehicle-related operations.
Where is this auto shop located?
The property is located at 607/609 S 1st St Yakima, WA.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 6,500 SF automotive building constructed in 1935; Paint booth and vehicle lift included; Configured for collision repair, refinishing, and general automotive sales or service
