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Property profile & analytics
OFF-MARKET
Estimated value
$12,545,000
Outlet malls
2310 Longfibre Rd Union Gap, WA 98903-1513
Entity Owned
19-yr Hold
Free & Clear
Property ID
US90-0786616
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2007
Construction
METAL FRAME
Total area
151,831 SF
Lot
21.08 ac (918,245 SF)
Zoning code
CBD
APN
191206-22002
UPID
US90-0786616
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
by Request
Comparable Approach
Comparable
$15.32M
Blend (final)
Blend
$12.55M
Owner & transaction history
Costco Wholesale Corp · 19 yrs held
Costco Wholesale Corp
since 2007
5 recorded transactions
Zoning & alternative use
CBD · Union Gap, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
CBD Business District (CBD). The purpose of the CBD business district is to provide a diversity of commercial opportunities, civic facilities, recreation, employment, and residential opportunities. A variety of retail sales, businesses meetings, neighborhood and regional needs are allowed. Limited manufacturing opportunities, such as electronics assembly and…
Zone name
Central Business District
General category
COMMERCIAL
Zone area
19.79 ac
Source
code of ordinances
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$20,635,000
Current use
AUTO REPAIR, GARAGE
$19,315,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$12.55M
Range $11.29M – $13.80M · ±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
$83 / 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
$114,330
Tax year 2024
Assessed value
$13,638,900
Assessed 2024
Previous assessed
$12,122,000
+12.5% YoY
Effective rate
0.84%
On assessed value
Assessed land
$3,673,000
Assessed improvement
$9,965,900
Land market value
$3,673,000
Improvement market value
$9,965,900
Total market value
$13,638,900
Applied tax rate
330.0000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2007
Construction
METAL FRAME
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
151,831 SF
Lot
21.08 ac (918,245 SF)
Zoning code
CBD
APN
191206-22002
UPID
US90-0786616
Jurisdiction
YAKIMA
Zoning & alternative use
CBD · Union Gap, WAZoning CBD · permitted uses
CBD · Union Gap, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
CBD Business District (CBD). The purpose of the CBD business district is to provide a diversity of commercial opportunities, civic facilities, recreation, employment, and residential opportunities. A variety of retail sales, businesses meetings, neighborhood and regional needs are allowed. Limited manufacturing opportunities, such as electronics assembly and printing plants, may be allowed subject to Class (2) or Class (3) review. Residential opportunities are limited to second floor apartments and townhouses, and residences for the owner or operator of the business establishment. Development must be served by a full range of urban services, with access by paved streets with curbs, gutters, and sidewalks. I.
Zone name
Central Business District
General category
COMMERCIAL
Zone area
19.79 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$20.6M
AUTO REPAIR, GARAGE
Est. value
$19.3M
RETAIL STORES Current
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
2007
Construction
METAL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
21.08 ac
Current owner
From public records · entity-resolved
Costco Wholesale Corp
Entity
Free & Clear · 19 yrs held
Mailing address
999 LK DR, ISSAQUAH, WA 98027-8990
Ownership since
2007
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
Jun 15, 2007
$2,900,000
Costco Wholesale Corp
Industrial Properties INC
Warranty Deed
—
Oct 30, 2003
—
Barbara M Clevenger
Pratt Enterprises LP
Grant Deed
$650,000 · Pratt Enterprises LP
Apr 11, 2001
—
Union Gap City (wa)
Pratt Enterprises LP
Quit Claim Deed
related
—
Nov 17, 2000
—
Pratt Enterprises LP
Pratt,earl F & Marilyn M
Quit Claim Deed
related
—
Aug 20, 1991
$270,750
Earl F. Pratt
Unknown
Grant Deed
—
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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