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    2504 Nob Hill Blvd Yakima, WA 98902

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    2504 Nob Hill Blvd Yakima, WA 98902

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    • Lifestyle centers
    • 76,219 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2504 Nob Hill Blvd

    Property size
    76,219 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail investment opportunity presents 76,219 square feet of prime commercial space located at 2504 - 2608 W Nob Hill Boulevard in Yakima, Washington, 98902. The Rainier Square Shopping Center boasts a multi-tenant configuration, ideal for a diverse range of retail businesses. The property's prominent location offers excellent visibility and accessibility, ensuring high foot traffic and strong potential for tenant success. With an APN of 181326-31487, this property is well-situated within the vibrant Yakima market. The substantial square footage provides ample space for various retail concepts, allowing for flexibility and customization to meet diverse business needs. This is a rare opportunity to acquire a well-established shopping center in a thriving community. The property's strong location and significant size make it an attractive investment for both seasoned and emerging investors seeking a stable and potentially high-return asset in the dynamic Yakima retail market. Further details regarding lease terms and financial information are available upon request. This is a turnkey opportunity to acquire a significant retail presence in a desirable location. The property is ready for immediate occupancy and offers a unique chance to capitalize on the growing retail landscape of Yakima, Washington.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Yakima
    County
    Yakima
    State
    Washington
    Longitude
    -120.544
    Latitude
    46.5851

    Comparable in this City

    • Value Estimation
      $5,470,000
      58,880 SF

      2704 Nob Hl Blvd

      SHOPPING CENTER, STRIP CENTER • 58,880 SF
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    • Value Estimation by Request
      0.10 Acres

      2504 Fairbanks Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 0.10 Acres
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    • Value Estimation
      $630,000
      1,092 SF

      1024 1st Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 1,092 SF
      1024 1st Ave, Yakima, WA 98902
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    • Value Estimation by Request
      2,600 SF

      208 16th Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,600 SF
      208 16th Ave, Yakima, WA 98902-2465
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    • Value Estimation by Request
      960 SF

      1011 Tieton Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 960 SF
      1011 Tieton Dr, Yakima, WA 98902-3501
      View Details
    • Value Estimation by Request
      12,599 SF

      510 Chestnut Ave

      Medical Office Space • 12,599 SF
      510 Chestnut Ave, Yakima, WA 98902
      View Details

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      Yakima Retail Space For Lease

      22,169 SF retail space in grocery-anchored Yakima center.
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    • $20 SF/Yr
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      Rainier Square Retail Space

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      36,550 SF

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    Yakima, WA 98902
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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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