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Property profile & analytics
FOR LEASE
Office buildings
1800 Rainier Pl Union Gap, WA 98903
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US90-1738267
For Lease
1 / 18
$625,000
1800 Rainier Pl, Union Gap, WA 98903
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,617 SF
Lot
0.52 ac (22,651 SF)
Zoning code
PBD
APN
191332-42014
UPID
US90-1738267
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
$630k
Comparable Approach
Comparable
$583k
Blend (final)
Blend
$625k
Owner & transaction history
Identity Properties LLC · 6 yrs held
Identity Properties LLC
since 2019
5 recorded transactions
Zoning & alternative use
PBD · Union Gap, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$700,000
+3.9%
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%
$685,000
6.5%
$630,000
7%
$585,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$675,000
Current use
MEDICAL BUILDING
$700,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$625k
Range $563k – $688k · ±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
$173 / 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
$5,420
Tax year 2024
Assessed value
$785,300
Assessed 2024
Previous assessed
$861,500
-8.8% YoY
Effective rate
0.69%
On assessed value
Assessed land
$112,800
Assessed improvement
$672,500
Land market value
$112,800
Improvement market value
$672,500
Total market value
$785,300
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
3,617 SF
Lot
0.52 ac (22,651 SF)
Zoning code
PBD
APN
191332-42014
UPID
US90-1738267
Jurisdiction
YAKIMA
Zoning & alternative use
PBD · Union Gap, WA
Zoning PBD · permitted uses
PBD · 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
OFFICE BUILDING Current
Est. value
$675,000
MEDICAL BUILDING
Est. value
$700,000
OFFICE BUILDING Current
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
1977
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Identity Properties LLC
Entity
Mailing address
218 STAFF SGT PENDLETON WAY, YAKIMA, WA 98901-2692
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2020
—
Identity Properties LLC
—
Deed
related
$700,000 · Gesa Cu
Oct 5, 2020
—
Identity Properties LLC
—
Deed
related
$656,250 · Gesa Cu
Jul 30, 2020
—
Identity Properties LLC
—
Deed
related
$296,000 · Gesa FCU
Nov 4, 2019
—
Identity Properties LLC
City Of Union Gap Washington
Warranty Deed
$250,000 · Gesa Cu
—
—
Identity Properties LLC
—
Deed Of Trust
related
$296,000 · Gesa FCU
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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