Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Retail space
1401 1st St Yakima, WA 98901-3541
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-1199596
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
7,000 SF
Lot
0.53 ac (23,087 SF)
Zoning code
GC
APN
191330-42436
UPID
US90-1199596
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
-
Datt Express Shipping Company Freight Service
-
Central Washington Auto Parts Auto Parts Store
-
Napa Auto Parts Auto Parts Store
-
Fire Cannabis Co - Cannabis Store (Bike/Boat/Book/etc) Store
-
Mattress Firm Yakima Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.09M
Comparable Approach
Comparable
$1.22M
Blend (final)
Blend
$1.05M
Owner & transaction history
1401 South 1st Street LLC · 3 yrs held
1401 South 1st Street LLC
since 2023
7 recorded transactions
Zoning & alternative use
GC · Yakima, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the general commercial district is to accommodate wholesale and retail activities with some high-density residential development.
Zone name
General Commercial District
General category
COMMERCIAL
Zone area
1,450.22 ac
Source
Realmo
Top alternative use upside
Office building
$1.4M
+68.4%
Medical building
$1.4M
+68.3%
Industrial (general)
$1.1M
+41.6%
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%
$1,185,000
6.5%
$1,090,000
7%
$1,015,000
Alternative Use
Use
Estimation
RETAIL STORES
$805,000
Current use
OFFICE BUILDING
$1,355,000
Change: +68% · Conversion: Easy
MEDICAL BUILDING
$1,355,000
Change: +68% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,140,000
Change: +42% · Conversion: Difficult
AUTO REPAIR, GARAGE
$890,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±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
$150 / 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
$7,175
Tax year 2024
Assessed value
$797,300
Assessed 2024
Previous assessed
$727,550
+9.6% YoY
Effective rate
0.90%
On assessed value
Assessed land
$185,400
Assessed improvement
$611,900
Land market value
$185,400
Improvement market value
$611,900
Total market value
$797,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
7,000 SF
Lot
0.53 ac (23,087 SF)
Zoning code
GC
APN
191330-42436
UPID
US90-1199596
Jurisdiction
YAKIMA
Zoning & alternative use
GC · Yakima, WAZoning GC · permitted uses
GC · Yakima, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the general commercial district is to accommodate wholesale and retail activities with some high-density residential development.
Zone name
General Commercial District
General category
COMMERCIAL
Zone area
1,450.22 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$805,000
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$890,000
RETAIL STORES Current
OFFICE BUILDING
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1965
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
0.53 ac
Current owner
From public records · entity-resolved
1401 South 1st Street LLC
Entity
Mailing address
2318 S 1ST ST, YAKIMA, WA 98903-1687
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 2023
$1,047,054
1401 South 1st Street LLC
Korsvik Holdings LLC
Warranty Deed
$650,000 · Korsvik Holding LLC
Oct 25, 2022
—
Korsvik Holding LLC
Terry A Korsvik
Intrafamily Transfer
related
—
Apr 24, 2017
$1,199,673
Retirement II LLC
Souder,philip E & Kathleen M
Warranty Deed
—
Nov 14, 2008
—
Terry A Korsvik
Korsvik,teresa M
Quit Claim Deed
—
Apr 1, 2002
—
Ar2 Properties LLC
Korsvik,terry A & Teresa M
Quit Claim Deed
related
—
Nov 1, 2000
$700,000
Terry A Korsvik
Rappaport,norman P
Grant Deed
$525,000 · Washington Trust Bank
—
—
Metro Outdoor LLC
—
Deed Of Trust
related
$350,000 · Wp Media Lending LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1401 1st St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
