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Property profile & analytics
OFF-MARKET
Estimated value
$11,455,000
Retail properties & Spaces
1500 Washington Ave Union Gap, WA 98903-1634
Entity Owned
Absentee Owner
Free & Clear
Property ID
US90-2067114
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
82,422 SF
Lot
4.58 ac (199,505 SF)
Zoning code
COM
APN
191332-31408
UPID
US90-2067114
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
$12.86M
Comparable Approach
Comparable
$13.05M
Blend (final)
Blend
$11.46M
Owner & transaction history
WP CENTERCAL LLC
WP CENTERCAL LLC
Zoning & alternative use
COM · Union Gap, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$16.0M
+42.4%
Office building
$15.4M
+37.1%
Industrial (general)
$13.4M
+19.8%
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 Union Gap submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Union Gap 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%
$13,930,000
6.5%
$12,855,000
7%
$11,940,000
Alternative Use
Use
Estimation
RETAIL STORES
$11,200,000
Current use
MEDICAL BUILDING
$15,955,000
Change: +42% · Conversion: Difficult
OFFICE BUILDING
$15,360,000
Change: +37% · Conversion: Easy
INDUSTRIAL (GENERAL)
$13,425,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,485,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$11.46M
Range $10.31M – $12.60M · ±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
$139 / 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
$79,733
Tax year 2024
Assessed value
$11,615,100
Assessed 2024
Previous assessed
$11,515,350
+0.9% YoY
Effective rate
0.69%
On assessed value
Assessed land
$2,693,400
Assessed improvement
$8,921,700
Land market value
$2,693,400
Improvement market value
$8,921,700
Total market value
$11,615,100
Applied tax rate
300.0000
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 properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
82,422 SF
Lot
4.58 ac (199,505 SF)
Zoning code
COM
APN
191332-31408
UPID
US90-2067114
Jurisdiction
YAKIMA
Zoning & alternative use
COM · Union Gap, WA
Zoning COM · permitted uses
COM · Union Gap, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Union Gap. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$11.2M
MEDICAL BUILDING
Est. value
$16.0M
OFFICE BUILDING
Est. value
$15.4M
INDUSTRIAL (GENERAL)
Est. value
$13.4M
AUTO REPAIR, GARAGE
Est. value
$10.5M
RETAIL STORES Current
MEDICAL BUILDING
OFFICE 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
2012
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
4.58 ac
Current owner
From public records · entity-resolved
WP CENTERCAL LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1600 E FRANKLIN AVE, EL SEGUNDO, CA 90245-4337
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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