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

    1506 Rd 40 Pasco, WA 99301-2615

    • Specialty properties
    • 1,566 SF
    • 0.31 lot acres
    OFF-MARKET
    Last Sale
    Aug 19, 2020
    $325,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1506242
    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

    • Pet OverPopulation Prevention / Pet Adoption Service / Animal Shelter

    Property Details for 1506 Rd 40

    Year built
    1975
    Lot size
    0.31 lot acres
    Property size
    1,566 SF
    Property type
    Specialty properties
    APN
    119154157
    APU
    119154157

    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
    Pasco
    County
    Franklin
    State
    Washington
    Longitude
    -119.144
    Latitude
    46.2418
    CBSA code
    28420
    CBSA name
    KENNEWICK-RICHLAND-PASCO, 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
    2021
    $2,557
    $180,900
    $278,200
    $459,100
    -
    $180,900
    $278,200
    $459,100

    Comparable in this City

    • Value Estimation by Request
      2,455 SF

      Pasco, WA 99301

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,455 SF
      Pasco, WA 99301
      View Details
    • Value Estimation
      $1,110,000
      4,500 SF

      324 Margaret St

      COMMERCIAL MISC • 4,500 SF
      324 Margaret St, Pasco, WA 99301-3717
      View Details
    • Value Estimation by Request

      2630 Ainsworth Ave

      COMMERCIAL MISC
      2630 Ainsworth Ave, Pasco, WA 99301-5846
      View Details
    • Value Estimation by Request
      1,800 SF

      Pasco, WA 99301

      PROFESSIONAL CLUBS/ASSOCIATIONS • 1,800 SF
      Pasco, WA 99301
      View Details
    • Value Estimation
      $800,000
      4,464 SF

      2804 Lewis St

      FUNERAL HOME • 4,464 SF
      2804 Lewis St, Pasco, WA 99301-6701
      View Details
    • Value Estimation by Request
      2,572 SF

      1534 Spokane St

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,572 SF
      1534 Spokane St, Pasco, WA 99301-4214
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.93 Acres

      Pasco Office Space For Sale

      Office space available for purchase in Pasco, Washington.
      Tbd Varney Ln, Pasco, WA 99301
      View Details
    • Contact for pricing
      0.93 Acres

      Pasco Office Space For Sale

      Office space available for purchase in Pasco, Washington.
      Tbd Varney Ln, Pasco, WA 99301
      View Details
    • Contact for pricing
      1.39 Acres

      Pasco Industrial Land For Sale

      1.39 acre commercial land available in Pasco, Washington.
      N Wyoming, Pasco, WA 99301
      View Details
    • Contact for pricing
      0.93 Acres

      Pasco Retail Opportunity

      Retail property available for sale in Pasco, Washington.
      Tbd Varney Ln, Pasco, WA 99301
      View Details
    • Contact for pricing
      1.19 Acres

      Pasco Industrial Land For Sale

      1.19 acre commercial land available in Pasco, Washington.
      N Wyoming, Pasco, WA 99301
      View Details
    • Contact for pricing

      Pasco Industrial Opportunity

      Industrial property for sale in Pasco, Washington.
      1320 W A St, Pasco, WA 99301
      View Details

    Similar Nearby for Lease

    • $1.65 SF/Yr
      22,000 SF

      Build-to-Suit Warehouse in Columbia East

      Build-to-suit warehouse/shop in Columbia East Business Park available for lease.
      2075 N Commercial Ave, Pasco, WA 99301
      View Details
    • $15 SF/Yr
      5,806 SF

      Prime Pasco Executive Office Space

      1,600 SF Office, Excellent Location
      1320 4Th Ave, Pasco, WA 99301
      View Details
    • $12 SF/Yr
      16,960 SF

      Pasco, WA Flex Space Available

      Modern Flex Space, West Pasco, WA
      5710 Road 92, Pasco, WA 99301
      View Details
    • $144 SF/Yr
      24,840 SF

      Pasco Flex Space: 8,280 SF

      Modern Flex Space in West Pasco
      5820 Road 92, Pasco, WA 99301
      View Details
    • $24 SF/Yr
      2,797 SF

      Modern Office Space in Pasco

      Class A office space in Pasco's growing business district.
      2713 N 20Th Ave, Pasco, WA 99301
      View Details
    • $30 SF/Yr
      3,291 SF

      Pasco Retail Pad Building

      Freestanding 3,291 SF building in high-traffic Pasco location.
      1406 N 20Th Ave, Pasco, WA 99301
      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.
    1506 Rd 40
    Pasco, WA 99301-2615
    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.