Warehouse and Land I-82
For Sale
Contact for pricing
120 N Puterbaugh Rd, Grandview, WA 98930
Warehouse, office, and land with I-82 visibility in Grandview.
Property Size8,116 SF
Lot Size5.20 Acres
Price / SF$240.27
Days on Market866
Property Features for 120 N Puterbaugh Rd
General Information
Standard status
Active
Size
8,116 SF
Class
C
Lot size
5.20 Acres
Property subtype
Industrial
Zoning
commercial
Investment Type
Owner/User
Building Details
Year Built
1981
Buildings
2
Stories
1
Units
2
Tenancy
Single
Listing Agency:
Wilson Real Estate Management
Listed By:
Roger Wilson · License #17888
(509) 728-0654
Source:
Crexi
Added: Apr 22, 2024
Changed: Aug 25
Last Checked: Aug 31 at 10:42PM
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 Wilson Real Estate Management
Investment Insights
Based on property information with market context.
This property features a 6,240-square-foot warehouse and office building situated on approximately 5.2 acres of usable land. Additionally, there is a 1,876-square-foot manufactured home with 3 bedrooms and 2 bathrooms, currently rented for $1,335 per month. Zoned for General Commercial use, the property is located on Yakima Valley Highway in Grandview and offers visibility from I-82. The location is suitable for retail and other uses. The warehouse tenant is scheduled to vacate in the fall of 2024, while the residential tenant is on a month-to-month lease and intends to remain. This property presents a potential development opportunity adjacent to a development with a truck stop.
Key Highlights
- Prime location next to a truck stop development and visible from I‑82.
- 5.2 acres of usable land zoned General Commercial, suitable for various retail uses.
- 6240‑sf warehouse and office building on site.**
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
$82,292
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
4.22%
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%
$1,645,840
$1.6M
Cap Rate 7%
$1,175,600
$1.2M
Cap Rate 9%
$914,356
$914.4K
Market Conditions
NOI Build-Up for 8,116 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
$122.7K $15.12/SF
− Vacancy
−$5.2K −$0.64/SF
EGI
$117.6K $14.48/SF
− OpEx
−$35.3K −$4.35/SF
NOI
$82.3K $10.14/SF
Area
Yakima County, WA
Vacancy
4.20%
Lease Rate
$15.12 /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%
$1,645,840
Cap Rate 7%
$1,175,600
Cap Rate 9%
$914,356
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.37M
NOI $82,292 @ 7.0% cap · market cap 4.22%
Second Best
Warehouse
$1.12M
$976.3K – $1.30M
NOI $78,106 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,372 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse, office, and land with I-82 visibility in Grandview.
Where is this warehouse located?
The property is located at 120 N Puterbaugh Rd Grandview, WA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Prime location next to a truck stop development and visible from I‑82.; 5.2 acres of usable land zoned General Commercial, suitable for various retail uses.; 6240‑sf warehouse and office building on site.**
