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Property profile & analytics
OFF-MARKET
Estimated value
$1,625,000
Medical Office Space
1221 16th Ave Yakima, WA 98902-1347
Entity Owned
20-yr Hold
Free & Clear
Property ID
US90-0058781
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2004
Construction
WOOD
Total area
8,363 SF
Lot
0.93 ac (40,511 SF)
Zoning code
LCC
APN
181313-22007
UPID
US90-0058781
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
Current use
Occupant on record · Public records
-
DaVita Yakima Dialysis Center Medical Clinic
-
DaVita Yakima At Home Medical Clinic
-
Harrison Karen MD Physician
-
Renal Treatment Center-West Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$1.68M
Blend (final)
Blend
$1.63M
Owner & transaction history
Lab Investing Corp · 20 yrs held
Lab Investing Corp
since 2006
2 recorded transactions
Zoning & alternative use
LCC · Yakima, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.5M
+157.6%
Industrial (general)
$1.4M
+42.4%
Office building
$1.1M
+16.6%
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%
$1,485,000
6.5%
$1,370,000
7%
$1,275,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,465,000
Change: +158% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,360,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$1,115,000
Change: +17% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,065,000
Change: +11% · Conversion: Difficult
RETAIL STORES
$1,020,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$1.63M
Range $1.46M – $1.79M · ±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
$194 / 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
$16,405
Tax year 2024
Assessed value
$1,834,600
Assessed 2024
Previous assessed
$1,684,500
+8.9% YoY
Effective rate
0.89%
On assessed value
Assessed land
$404,500
Assessed improvement
$1,430,100
Land market value
$404,500
Improvement market value
$1,430,100
Total market value
$1,834,600
Applied tax rate
335.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2004
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
8,363 SF
Lot
0.93 ac (40,511 SF)
Zoning code
LCC
APN
181313-22007
UPID
US90-0058781
Jurisdiction
YAKIMA
Zoning & alternative use
LCC · Yakima, WA
Zoning LCC · permitted uses
LCC · 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
COMMERCIAL (GENERAL)
Est. value
$2.5M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2004
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.93 ac
Current owner
From public records · entity-resolved
Lab Investing Corp
Entity
Free & Clear · 20 yrs held
Mailing address
24919 SHUMAN CRK, SAN ANTONIO, TX 78255-3525
Ownership since
2006
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
Jul 5, 2006
—
Lab Investing Corp
Altmaier Phillip L & B M
Grant Deed
—
Sep 20, 2005
$2,050,000
Altmaier Phillip L Tr
Genesis Dev Worldwide LLC
Warranty Deed
—
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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