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    1002 Poplar St Walla Walla, WA 99362
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    1002 Poplar St, Walla Walla, WA 99362

    View on Map
    • Commercial real estate
    • 0.44 lot acres
    Off-Market
    Property ID
    US90-0094116
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1002 Poplar St

    Lot size
    0.44 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.44-acre commercial lot presents a rare opportunity in the heart of Walla Walla, Washington. Located at 1002 W Poplar Street, this property boasts a highly desirable corner location at the intersection of Poplar and 12th Streets. Zoned for commercial use, it's ideally suited for a variety of developments, including office space, retail storefronts, or multi-family housing. The lot's proximity to major transportation arteries enhances its appeal. It's situated approximately three blocks west of a main north-south thoroughfare, providing excellent visibility and accessibility. Furthermore, its convenient location offers easy access to both Highway 125 and Highway 12, via Myra Road, which is roughly one mile away. The asking price for this ready-to-build lot is $389,000. Don't miss this chance to secure a prime piece of commercial real estate in Walla Walla's vibrant downtown area. The property's 99362 zip code and Walla Walla County location further solidify its strategic position within the city. This is a truly unique opportunity for investors and developers seeking a buildable lot in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Walla Walla
    County
    Walla Walla
    State
    Washington
    Longitude
    -118.35148770367
    Latitude
    46.059665502168

    Comparable in this City

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      Walla Walla Industrial Land

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      Highway 12 Development Opportunity

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    Similar Nearby for Sale

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      Walla Walla Industrial Land Opportunity

      6,451 sqft lot zoned heavy industrial for sale.
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      View Details
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      Pending

      Walla Walla Countryside Lot

      13.19 acre lot ready for home or agricultural use.
      2 Nibler Rd, Walla Walla, WA 99362
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    • $850,000
      65.21 Acres

      Walla Walla Land with Charm

      Exceptional 65.21-acre property near Walla Walla, WA.
      Bunchgrass Ln, Walla Walla, WA 99362
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      Land Near Wine Valley Golf

      Land approved for 273 homes near golf course.
      Wine Valley Rd, Walla Walla, WA 99362
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    • $799,000
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      Walla Walla Industrial Land

      1.13 acre industrial land for sale in Walla Walla.
      1012 N 9Th Ave, Walla Walla, WA 99362
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      Highway 12 Development Opportunity

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    Similar Nearby for Lease

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      10,000 SF

      Prime Retail Location in Walla Walla

      Retail pads available near Highway 12 and Highway 125.
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      Walla Walla Retail Pads Available

      Versatile retail spaces with high visibility and accessibility near wineries.
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      412 S 9th Ave, Walla Walla, WA 99362

      Showrooms
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      Albertsons Anchored Retail Space

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      16,836 SF

      Former Retail Space with Drive-Through

      Former Rite Aid with drive-through, fixtures, and garden center.
      2028 E Isaacs Ave, Walla Walla, WA 99362
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    Walla Walla, WA 99362
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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.

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