Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1015 40th Ave Ste, Unit 14 Yakima, WA 98908-3867

    • Medical offices
    • 2,100 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jun 14, 2021
    $492,592
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2688479
    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.

    Current Use by Public Records

    • Physicians Rehabilitation and Therapy / Medical Clinic / Osteopath
    • Dr. Derek Hatfield / Psychologist
    • Cascade Psychological Health / Mental Health Service

    Property Details for 1015 40th Ave Ste

    Year built
    1975
    Construction
    WOOD
    Lot size
    0.05 lot acres
    Property size
    2,100 SF
    Zone code
    BCOM
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    181327-13481
    APU
    18132713481

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Yakima
    County
    Yakima
    State
    Washington
    Longitude
    -120.561
    Latitude
    46.5872
    CBSA code
    49420
    CBSA name
    YAKIMA, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $2,228
    $49,300
    $172,900
    $222,200
    -
    $49,300
    $172,900
    $222,200

    Comparable in this City

    • Value Estimation
      $3,985,000
      24,935 SF

      6101 Summitview Ave

      MEDICAL BUILDING • 24,935 SF
      6101 Summitview Ave, Yakima, WA 98908-3028
      View Details
    • Value Estimation by Request
      5,536 SF

      1017 40th Ave

      MEDICAL BUILDING • 5,536 SF
      1017 40th Ave, Yakima, WA 98908-3805
      View Details
    • Value Estimation
      $670,000
      4,071 SF

      4001 Tieton Dr

      MEDICAL BUILDING • 4,071 SF
      4001 Tieton Dr, Yakima, WA 98908-3345
      View Details
    • Value Estimation
      $3,460,000
      14,742 SF

      506 40th Ave

      MEDICAL BUILDING • 14,742 SF
      506 40th Ave, Yakima, WA 98908-4318
      View Details
    • Value Estimation by Request
      958 SF

      1015 40th Ave, Unit 8

      MEDICAL BUILDING • 958 SF
      1015 40th Ave, Yakima, WA 98908-3806
      View Details
    • Value Estimation by Request
      4,778 SF

      1008 40th Ave

      MEDICAL BUILDING • 4,778 SF
      1008 40th Ave, Yakima, WA 98908-3804
      View Details

    Similar Nearby for Sale

    • $3,200,000
      13,762 SF

      Yakima Medical Office Building

      Prime Yakima medical office, 100% occupied
      504 40Th Ave, Yakima, WA 98908
      View Details
    • $2,900,000
      13,762 SF

      Medical Building in Yakima For Sale

      Prime medical facility in Yakima's North 40th Avenue district.
      504 N 40Th Ave, Yakima, WA 98908
      View Details
    • $4,200,000
      72,218 SF

      Yakima Mixed-Use Investment

      Prime Yakima location, high NOI, strong tenants.
      5110 Tieton Dr, Yakima, WA 98908
      View Details
    • $3,990,000
      56,337 SF

      Refurbished Yakima Mixed-Use Property

      Mixed-use retail, office, and restaurant property in Yakima, Washington.
      5110 Tieton Dr, Yakima, WA 98908
      View Details
    • $15,000,000

      Yakima Golf Course & RV Park

      Profitable Turnkey Recreation Business
      231 Pence Rd, Yakima, WA 98908
      View Details
    • $695,000
      2,752 SF

      West Valley Townhouse Triplex

      Two-level triplex near schools, stores, and parks in Yakima, WA.
      6505 Alpine Way, Yakima, WA 98908
      View Details

    Similar Nearby for Lease

    • $20 SF/Yr
      2,784 SF

      Retail Space in Safeway Center

      Standalone retail space in busy shopping center, Yakima, WA.
      5802 Summitview Ave, Yakima, WA 98908
      View Details
    • $15 SF/Yr
      1,702 SF

      Glenwood Corner Retail Space Available

      Prime retail space available in Glenwood on the Corner.
      432 S 48Th Ave, Yakima, WA 98908
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1015 40th Ave Ste, Unit 14
    Yakima, WA 98908-3867
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.