Full-Service Restaurant with
For Sale
Contact for pricing
905 North 1st Street, Yakima, WA 98901
Well-maintained restaurant building with seating for about 269 and walk-in freezers, delivered vacant for new occupancy.
Property Size8,383 SF
Lot Size1.95 Acres
Price / SF$178.93
Days on Market58
Property Features for 905 North 1st Street
General Information
Standard status
Active
Size
8,383 SF
Total Parking Spaces
124
Lot size
1.95 Acres
Property subtype
Retail
Zoning
GC
Investment Type
Owner/User
Additional Details
Traffic Count
18,500 vehicles/day
Building Details
Year Built
1991
Units
124
Listing Agency:
Almon Commercial Real Estate
Listed By:
Bill Almon · License #WA 17047
Source:
Crexi
Added: Jun 15
Changed: Aug 8
Last Checked: Aug 10 at 3:23PM
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 offering is for a prominent, full-service restaurant building currently presented for purchase as vacant at closing. The property includes walk-in freezers and a well-maintained structure with estimated seating capacity for about 269. Existing furniture, fixtures and equipment may be available for purchase, with terms to be negotiated.
The restaurant is located at a controlled corner intersection in Yakima, Washington, fronting a major commercial arterial with over 18,500 vehicles per day passing the property. The site is an oversized 1.95-acre parcel with approximately 124 parking stalls, supporting convenient customer access.
This asset is well-suited for an operator or buyer seeking a turnkey restaurant footprint with meaningful on-site parking and kitchen-ready components such as walk-in freezers. With the building delivered vacant as of closing and the option to purchase existing FFE subject to negotiation, it can provide a practical starting point for a new full-service concept or continued restaurant use.
The restaurant is located at a controlled corner intersection in Yakima, Washington, fronting a major commercial arterial with over 18,500 vehicles per day passing the property. The site is an oversized 1.95-acre parcel with approximately 124 parking stalls, supporting convenient customer access.
This asset is well-suited for an operator or buyer seeking a turnkey restaurant footprint with meaningful on-site parking and kitchen-ready components such as walk-in freezers. With the building delivered vacant as of closing and the option to purchase existing FFE subject to negotiation, it can provide a practical starting point for a new full-service concept or continued restaurant use.
Key Highlights
- Well‑maintained restaurant building built in 1991
- Seating capacity of approximately 269
- Walk‑in freezers included
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
$85,288
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
5.69%
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%
$1,705,760
$1.7M
Cap Rate 7%
$1,218,400
$1.2M
Cap Rate 9%
$947,644
$947.6K
Market Conditions
NOI Build-Up for 8,383 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
$118.7K $14.16/SF
− Vacancy
−$5.0K −$0.59/SF
EGI
$113.7K $13.57/SF
− OpEx
−$28.4K −$3.39/SF
NOI
$85.3K $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%
$1,705,760
Cap Rate 7%
$1,218,400
Cap Rate 9%
$947,644
Alternative Uses
Best Use
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,288 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,167 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,861
Businesses Nearby
170k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Shops & Services 28%
Groceries 20%
Home Improvements & Furnishings 4%
Safeway
Groceries
33,444 visits/mo
0.5 miles
Olive Garden
Dining
27,085 visits/mo
0.2 miles
McDonald's
Dining
25,346 visits/mo
0.2 miles
Dutch Bros. Coffee
Dining
11,694 visits/mo
0.2 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
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Well-maintained restaurant building with seating for about 269 and walk-in freezers, delivered vacant for new occupancy.
Where is this conventional restaurant located?
The property is located at 905 North 1st Street Yakima, WA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Well‑maintained restaurant building built in 1991; Seating capacity of approximately 269; Walk‑in freezers included
