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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Distribution centers
1011 3rd Ave Yakima, WA 98902-4538
Entity Owned
22-yr Hold
Free & Clear
Property ID
US90-1820338
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,114 SF
Lot
4.76 ac (207,346 SF)
Zoning code
M1
APN
191330-12005
UPID
US90-1820338
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$460k
Comparable Approach
Comparable
$487k
Blend (final)
Blend
$525k
Owner & transaction history
Noel Corp · 22 yrs held
Noel Corp
since 2003
2 recorded transactions
Zoning & alternative use
M1 · Yakima, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$415,000
+43.6%
Auto repair, garage
$395,000
+37.0%
Retail stores
$380,000
+31.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Yakima submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Yakima submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$500,000
6.5%
$460,000
7%
$430,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$415,000
Change: +44% · Conversion: Difficult
AUTO REPAIR, GARAGE
$395,000
Change: +37% · Conversion: Easy
RETAIL STORES
$380,000
Change: +31% · Conversion: Moderate
MEDICAL BUILDING
$355,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$169 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$81,570
Tax year 2024
Assessed value
$9,149,100
Assessed 2024
Previous assessed
$8,405,600
+8.8% YoY
Effective rate
0.89%
On assessed value
Assessed land
$415,100
Assessed improvement
$8,734,000
Land market value
$415,100
Improvement market value
$8,734,000
Total market value
$9,149,100
Applied tax rate
333.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
YES
Buildings
2
Stories
1
Total area
3,114 SF
Lot
4.76 ac (207,346 SF)
Zoning code
M1
APN
191330-12005
UPID
US90-1820338
Jurisdiction
YAKIMA
Zoning & alternative use
M1 · Yakima, WA
Zoning M1 · permitted uses
M1 · Yakima, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Yakima. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$415,000
AUTO REPAIR, GARAGE
Est. value
$395,000
RETAIL STORES
Est. value
$380,000
MEDICAL BUILDING
Est. value
$355,000
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Lot
4.76 ac
Current owner
From public records · entity-resolved
Noel Corp
Entity
Free & Clear · 22 yrs held
Mailing address
PO BOX 111, YAKIMA, WA 98907-0111
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 6, 2003
—
Noel Corp
Yakima City (wa)
Quit Claim Deed
related
—
—
—
Noel Corp
—
Deed Of Trust
related
$2,250,000 · Fremont Investment & Loan
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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