Chinese Restaurant with
For Sale
$749,000
9 S 1st St, Yakima, WA 98901
Turnkey restaurant improvements include a commercial kitchen, separate lounge, dining area, and updated guest seating.
Property Size6,528 SF
Price / SF$114.74
Days on Market254
Property Features for 9 S 1st St
General Information
Standard status
Active
Size
6,528 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$4,080
Amenities
Central Air
3
Vinyl, Concrete
6528.0, 6528.0
Building Details
Year Built
1965
Listing Agency:
eXp Realty LLC Kennewick
(509) 203-5294
Listed By:
Jorge Alvarez · License #90998
(509) 203-5294
Source:
Xome
Added: Dec 19, 2025
Changed: Aug 30
Last Checked: Apr 24 at 8:19AM
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 Kennewick
Investment Insights
Based on property information with market context.
This Chinese restaurant property includes approximately 6,528 square feet on the main level and an additional approximately 1,880-square-foot basement used for storage and food preparation. The dining room seats up to 115 guests, while a separate 21+ lounge and bar accommodates 67 additional patrons. The property was built in 1965 and has operated as a restaurant for 89 years.
Kitchen improvements include multiple walk-in freezers, wok stations, flat-top cooking surfaces, and dedicated preparation space. Recent interior work added new flooring, booths, and table seating. The property is located at 9 S 1st St in Yakima, Washington, with street-level exposure along a heavily traveled commercial corridor.
Kitchen improvements include multiple walk-in freezers, wok stations, flat-top cooking surfaces, and dedicated preparation space. Recent interior work added new flooring, booths, and table seating. The property is located at 9 S 1st St in Yakima, Washington, with street-level exposure along a heavily traveled commercial corridor.
Key Highlights
- Approximately 6,528 square feet on the main level plus an approximately 1,880‑square‑foot basement
- Main dining room seats up to 115 guests
- Separate 21+ lounge and bar with seating for 67 patrons
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
$66,416
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
8.87%
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%
$1,328,320
$1.3M
Cap Rate 7%
$948,800
$948.8K
Cap Rate 9%
$737,956
$738.0K
Market Conditions
NOI Build-Up for 6,528 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
$92.4K $14.16/SF
− Vacancy
−$3.9K −$0.59/SF
EGI
$88.6K $13.57/SF
− OpEx
−$22.1K −$3.39/SF
NOI
$66.4K $10.17/SF
Area
Yakima County, WA
Vacancy
4.20%
Lease Rate
$14.16 /SF/Yr
Expense Ratio
25.00%
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%
$1,328,320
Cap Rate 7%
$948,800
Cap Rate 9%
$737,956
Alternative Uses
Best Use
Specialty Retail
$948.8K
$830.2K – $1.11M
NOI $66,416 @ 7.0% cap · market cap 8.87%
Second Best
Industrial
$739.1K
$646.7K – $862.3K
NOI $51,737 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,798 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,071
Businesses Nearby
178k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 28%
Groceries 19%
Home Improvements & Furnishings 4%
Safeway
Groceries
33,444 visits/mo
0.4 miles
Olive Garden
Dining
27,085 visits/mo
0.2 miles
McDonald's
Dining
25,346 visits/mo
0.0 miles
Dutch Bros. Coffee
Dining
11,694 visits/mo
0.3 miles
Starbucks
Dining
10,776 visits/mo
0.5 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.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant improvements include a commercial kitchen, separate lounge, dining area, and updated guest seating.
Where is this conventional restaurant located?
The property is located at 9 S 1st St Yakima, WA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Approximately 6,528 square feet on the main level plus an approximately 1,880‑square‑foot basement; Main dining room seats up to 115 guests; Separate 21+ lounge and bar with seating for 67 patrons
