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    504 40Th Ave Yakima, WA 98908

    Sponsored
    For Sale
    $3,200,000

    Prime Yakima medical office, 100% occupied

    Property size:
    13,762 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    Exceptional investment opportunity in Yakima, WA, presenting a Class A, 13,762 square foot medical office building situated on a 1.31-acre lot at 504 N 40th Ave, 98908. Currently 100% occupied by MultiCare Hospital under a NNN lease expiring December 31, 2024, offering a strong 8.25% cap rate. The single-tenant building, constructed in 1993, features 12,083 square feet of finished ground floor space and 2,730 square feet of finished basement space, plus an additional 3,778 square feet of unfinished basement space. The building boasts 70 parking spaces and includes 27 exam rooms, a private lab, two procedure rooms, seven private offices, a breakroom, a conference room, and a gym. Building amenities include a sprinkler system and a metal roof. The property is strategically located approximately 40 blocks west of Yakima's central business district, offering convenient access for patients and staff. The asking price is $3,200,000. This is a rare opportunity to acquire a high-quality, fully occupied medical office building with a strong tenant in a desirable location. The property's design includes space reserved for a future elevator to access the basement. The total building area is 18,591 square feet. The property is owned by Yakima Family Medical Building LLC. The Assessor's Parcel Number (APN) is 181322-21450.

    Property Features for 504 40Th Ave

    General Information

    Property type
    Medical offices
    Square Feet
    13,762 SF
    Class
    A
    Lot Size
    57,064 SF

    Building Details

    Year Built
    1993
    Buildings
    1

    HighLights

    • $3,200,000 asking price for a Class A, 13,762 square foot medical office building.
    • 100% occupied by MultiCare Hospital under a NNN lease expiring December 31, 2024.
    • 8.25% cap rate.
    • Located on a 1.31‑acre lot at 504 N 40th Ave, Yakima, WA 98908.
    • Single‑tenant building with 70 parking spaces.
    • Built in 1993.
    Property Profile Location Intelligence

    Current Use by Public Records

    Family Medicine of Yakima: ... Family Practice Physician Mindy Udell Obstetrician-Gynecologist Kial Wiley Family Practice Physician Midhuna Papazian Family Practice Physician Family Medicine of Yakima: ... Family Practice Physician

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Yakima
    County
    Yakima
    State
    Washington
    Longitude
    -120.5634202
    Latitude
    46.605648

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    FAQs

    What type of property is this?
    Medical office - Prime Yakima medical office, 100% occupied
    Where is this medical office located?
    The property is located at 504 40Th Ave Yakima, WA.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: $3,200,000 asking price for a Class A, 13,762 square foot medical office building.; 100% occupied by MultiCare Hospital under a NNN lease expiring December 31, 2024.; 8.25% cap rate.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    504 40Th Ave Yakima, WA 98908
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