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    Class A Office Tower Yakima Title is generated by Realmo AI

    402 E Yakima Ave, Yakima, WA 98901

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    For Lease
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    Downtown Yakima Class A office space for lease.

    Type:Office
    Added:
    Dec 20, 2023
    Days on Market:
    881
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 402 E Yakima Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1960

    Spaces For Lease

    at 402 E Yakima Ave Contact us

    Suite 880 $20/Mo

    Size
    1,216 SF
    Type
    Office
    Contact us

    Suite 1040 $20/Mo

    Size
    344 SF
    Type
    Office
    Fits 1-3 peoplenAccess to a shared waiting roomn344 square feet availablenFully carpeted,...
    show more
    Contact us

    Suite 1100/11 $20/Mo

    Size
    6,890 SF
    Type
    Office
    Secured building with keycard/pad entrynGreat city viewsnOpen-concept inner office...
    show more
    Contact us

    Suite 460 $20/Mo

    Size
    973 SF
    Type
    Office
    Open space with one office and waiting areanFull service: utilities, parking, signage,...
    show more
    Contact us

    Suite 1400 $22/Mo

    Size
    7,125 SF
    Type
    Office
    Contact us

    Suite 777 $20/Mo

    Size
    2,236 SF
    Type
    Office
    Contact us

    1090B $20/Mo

    Size
    333 SF
    Type
    Office
    Secured building with keycard/pad entrynGreat city viewsnSmall single office within...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Elizabeth McGree

    Listing agent Elizabeth McGree License #FLBO

    Listing office JEM Development Real Estate INC

    Listing date Dec 20, 2023

    Source Crexi

    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 JEM Development Real Estate INC

    HighLights

    • Full‑service lease rate includes utilities, parking, janitorial, and signage.
    • Enjoy panoramic views of the Yakima Valley.
    • Secured access with keycard entry.
    • Convenient access to Interstate 82 and connecting interstates.
    • On‑site management.
    • Located in downtown Yakima, near the Yakima Transit stop.

    Overview

    The Tower at 402 E Yakima Ave is a Class A building located in downtown Yakima. Leasing opportunities offer multiple office availabilities at a full-service rate, including utilities, parking, janitorial services, and signage. The building provides panoramic views of the valley. This professional building provides secured access through a keycard entry system, on-site management, and ample convenient parking. Tenants have easy access to Interstate 82, which connects to Interstates 84 and 90, providing access to the greater Portland and Seattle areas. The Yakima Transit stop at 4th Street and Yakima Avenue is within a block of the property, providing access to auto-free commuting professionals. The tower is suitable for those seeking a turnkey work environment that emphasizes security, affordability, and convenience in central Washington.
    Location Intelligence

    Current Use by Public Records

    US Drug Enforcement ... Justice Department Vaagen Lindsey Foster Care Service Tahni Kalina Foster Care Service Diana Tellez Counseling ... Counselor Moss Adams Accounting Firm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Yakima
    County
    Yakima
    State
    Washington
    Longitude
    -120.5014574
    Latitude
    46.6040029

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    FAQs

    What type of property is this?
    Office building - Downtown Yakima Class A office space for lease.
    Where is this office building located?
    The property is located at 402 E Yakima Ave Yakima, WA.
    What are key features of this property?
    This property features: Full‑service lease rate includes utilities, parking, janitorial, and signage.; Enjoy panoramic views of the Yakima Valley.; Secured access with keycard entry.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Elizabeth McGree
    Real Estate License ID: FLBO
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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