Multifamily Property with Two
For Sale
Contact for pricing
920 W Ted Yao Way, Moses Lake, WA 98837
Two-unit multifamily property available for sale.
Property Size3,184 SF
Price / SF$186.87
Days on Market150
Property Features for 920 W Ted Yao Way
General Information
Standard status
Active
Size
3,184 SF
Class
A
Property subtype
Multifamily
Building Details
Year Built
2025
Buildings
1
Stories
2
Units
2
Listing Agency:
SperryCGA – Easerich Commercial Real Estate
Listed By:
Lien Ma · License #26386
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 10 at 1:21PM
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 SperryCGA – Easerich Commercial Real Estate
Investment Insights
Based on property information with market context.
This multifamily property features two units. The property offers a total size of 3184 square feet.
Key Highlights
- Multifamily property with 2 units.
- Priced at $365,000 per unit.
- Newly constructed in 2025.
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
$27,878
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
4.69%
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%
$557,560
$557.6K
Cap Rate 7%
$398,257
$398.3K
Cap Rate 9%
$309,756
$309.8K
Market Conditions
NOI Build-Up for 3,184 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
$43.5K $13.67/SF
− Vacancy
−$3.7K −$1.16/SF
EGI
$39.8K $12.51/SF
− OpEx
−$11.9K −$3.75/SF
NOI
$27.9K $8.76/SF
Area
Grant County, WA
Vacancy
8.50%
Lease Rate
$13.67 /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%
$557,560
Cap Rate 7%
$398,257
Cap Rate 9%
$309,756
Alternative Uses
Best Use
Multifamily LT 5
$398.3K
$348.5K – $464.6K
NOI $27,878 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$382.6K
$334.7K – $446.3K
NOI $26,779 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$691.7K
$605.2K – $807.0K
NOI $48,417 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 98837, WA
46,262
Population
18,651
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
87%
High-School Grad
486.2 sq mi
ZIP Area
95
Density / Sq Mi
$70,732
Median Household Income
$44,214
Median Earnings
$1,128
Median Rent
$290,000
Median Home Value
Market
Vacancy Rate% for Multifamily 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?
Duplex - Two-unit multifamily property available for sale.
Where is this duplex located?
The property is located at 920 W Ted Yao Way Moses Lake, WA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Multifamily property with 2 units.; Priced at $365,000 per unit.; Newly constructed in 2025.
