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Property profile & analytics
OFF-MARKET
Estimated value
$27,110,000
Warehouses
1225 28th Ave Yakima, WA 98902-1110
Entity Owned
3-yr Hold
Free & Clear
Property ID
US90-2716331
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
199,122 SF
Lot
14.23 ac (619,859 SF)
Zoning code
M1
APN
181314-21424
UPID
US90-2716331
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
-
Frosty Packing Food Market Specialty Food Shop
-
Jack Frost Fruit Co Agricultural Supply Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$29.48M
Comparable Approach
Comparable
$31.11M
Blend (final)
Blend
$27.11M
Owner & transaction history
Columbia Farms III LLC · 3 yrs held
Columbia Farms III LLC
since 2022
Last sale
$25.1M
7 recorded transactions
Zoning & alternative use
M1 · Yakima, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$32.4M
+75.3%
Office building
$26.6M
+43.6%
Auto repair, garage
$25.3M
+37.0%
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
$24,695,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$31,940,000
6.5%
$29,480,000
7%
$27,375,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$18,495,000
Current use
INDUSTRIAL (GENERAL)
$32,430,000
Change: +75% · Conversion: Easy
OFFICE BUILDING
$26,565,000
Change: +44% · Conversion: Difficult
AUTO REPAIR, GARAGE
$25,335,000
Change: +37% · Conversion: Easy
RETAIL STORES
$24,300,000
Change: +31% · Conversion: Moderate
MEDICAL BUILDING
$22,780,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$27.11M
Range $24.40M – $29.82M · ±10% · vs last sale $25.13M (Oct 3 2022)
Last sale anchor
$25.13M
Oct 3 2022
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
$136 / 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
$183,542
Tax year 2024
Assessed value
$21,121,700
Assessed 2024
Previous assessed
$20,210,100
+4.5% YoY
Effective rate
0.87%
On assessed value
Assessed land
$1,549,900
Assessed improvement
$19,571,800
Land market value
$1,549,900
Improvement market value
$19,571,800
Total market value
$21,121,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Buildings
2
Stories
1
Total area
199,122 SF
Lot
14.23 ac (619,859 SF)
Zoning code
M1
APN
181314-21424
UPID
US90-2716331
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
WAREHOUSE, STORAGE Current
Est. value
$18.5M
INDUSTRIAL (GENERAL)
Est. value
$32.4M
OFFICE BUILDING
Est. value
$26.6M
AUTO REPAIR, GARAGE
Est. value
$25.3M
RETAIL STORES
Est. value
$24.3M
MEDICAL BUILDING
Est. value
$22.8M
WAREHOUSE, STORAGE Current
INDUSTRIAL (GENERAL)
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
2015
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
14.23 ac
Current owner
From public records · entity-resolved
Columbia Farms III LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2575 EUCLID AVE, WENATCHEE, WA 98801-5909
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2022
—
Columbia Farms III LLC
New Columbia Fruit Packers LLC
Lease
—
Jun 4, 2020
$2,167,737
Frosty Packing Co LLC
Noel Corporation
Warranty Deed
—
May 14, 2020
—
Frosty Packing Co LLC
—
Deed
related
$15,300,000 · Keybank USA
Jan 9, 2015
—
Frosty Ridge Orchards LLC|frosty Packing Co LLC
—
Loan Modification
related
$15,300,000 · Keybank USA
Jan 9, 2014
$2,167,737
Frosty Packing Co LLC
Noel Corp
Warranty Deed
—
Jul 13, 2010
—
Noel Corp
—
Deed Of Trust
related
$16,500,000 · Wells Fargo Bank
—
—
Frosty Packing Co LLC
—
Loan Modification
related
$15,300,000 · Keybank Nat'l Assn/edgewood
—
—
Frosty Packing Co LLC
—
Deed Of Trust
related
$12,000,000 · Keybank USA
—
—
Frosty Packing Co LLC
—
Deed Of Trust
related
$15,300,000 · Keybank USA
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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