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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3008 Main St Union Gap, WA 98903-1758

    • Industrial properties
    • 27,474 SF
    • 1.08 lot acres
    OFF-MARKET
    Last Sale
    May 19, 2022
    $875,000
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0023105
    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

    • Industrial properties

    Property Details for 3008 Main St

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.08 lot acres
    Property size
    27,474 SF
    Zone code
    CBD
    Property type
    Industrial properties
    APN
    191205-23507
    APU
    19120523507

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $965,000
      ML approach
      $1,115,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $936,000
      Market price range: $648k - $3.43M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Union Gap
    County
    Yakima
    State
    Washington
    Longitude
    -120.476
    Latitude
    46.5576
    CBSA code
    49420
    CBSA name
    YAKIMA, 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
    2024
    $8,837
    $376,300
    $906,900
    $1,283,200
    -
    $376,300
    $906,900
    $1,283,200

    Comparable in this City

    • Value Estimation
      $285,000
      0.62 Acres

      2605 16th Ave

      CONSTRUCTION/CONTRACTING SERVICES • 0.62 Acres
      2605 16th Ave, Union Gap, WA 98903-9531
      View Details
    • Value Estimation
      $955,000
      34,825 SF

      1615 Ahtanum Rd

      INDUSTRIAL (GENERAL) • 34,825 SF
      1615 Ahtanum Rd, Union Gap, WA 98903-1815
      View Details
    • Value Estimation
      $400,000
      15,000 SF

      2220 Goodman Rd

      INDUSTRIAL (GENERAL) • 15,000 SF
      2220 Goodman Rd, Union Gap, WA 98903-9826
      View Details
    • Value Estimation
      $765,000
      39,120 SF

      2921 Sutherland Dr

      INDUSTRIAL (GENERAL) • 39,120 SF
      2921 Sutherland Dr, Union Gap, WA 98903-1891
      View Details
    • Value Estimation
      $425,000
      10,710 SF

      Goodman Rd Vly Mall Blvd

      INDUSTRIAL (GENERAL) • 10,710 SF
      Goodman Rd Vly Mall Blvd, Yakima, WA 98903
      View Details
    • Value Estimation
      $655,000
      4,284 SF

      3003 Washington Ave

      INDUSTRIAL (GENERAL) • 4,284 SF
      3003 Washington Ave, Yakima, WA 98903-1139
      View Details

    Similar Nearby for Sale

    • $10,250,000
      80,715 SF

      Union Gap Warehouse: Prime Location

      80,715 SF Warehouse, $10.25M
      94 Valley Mall Blvd, Union Gap, WA 98903
      View Details
    • $3,150,000
      24.42 Acres

      Union Gap Industrial Land

      24 Acres, Prime Location, $3.15M
      0 Goodman Rd, Union Gap, WA 98903
      View Details
    • $2,052,983
      15.71 Acres

      Union Gap Industrial Land Sale

      15.71 Acres, Light Industrial Zoning
      0 16Th Ave, Union Gap, WA 98903
      View Details
    • $599,000
      0.40 Acres

      Yakima Industrial Property For Sale

      Industrial property available for purchase in Yakima, Washington.
      2107 E Mead Ave, Yakima, WA 98903
      View Details
    • $2,105,908
      2.90 Acres

      Yakima Commercial Land - $2M+

      Prime 2.9-acre commercial lot in Yakima, WA.
      2007 Longfibre Rd, Yakima, WA 98903
      View Details
    • $1,600,000
      Pending

      Union Gap Industrial Land

      4.93 acre industrial land for sale in Union Gap.
      1101 Industrial Way, Union Gap, WA 98903
      View Details

    Similar Nearby for Lease

    • $8,350,000
      80,715 SF

      Union Gap Industrial Property

      Industrial property in Union Gap, WA with leaseback option.
      94 W Valley Mall Blvd, Union Gap, WA 98903
      View Details
    • $0.80 SF/Yr
      12,360 SF

      Industrial Space Available For Lease

      Industrial property with 12,360 square feet available for lease.
      1220 Industrial Way, Yakima, WA 98903
      View Details
    • $485,694

      Customizable Flex Industrial Space

      15,000 SF flex space with build-to-suit options.
      1225 Industrial Way, Union Gap, WA 98903
      View Details
    • $9 SF/Yr
      5,600 SF

      Yakima Industrial Warehouse Space

      5,600 SF Warehouse, I-82 Access
      2105 Mead Ave, Yakima, WA 98903
      View Details
    • $9 SF/Yr
      33,778 SF

      Yakima Warehouse Space Available

      Prime Yakima warehouse, 22,070 sq ft.
      700 Valley Mall Blvd, Union Gap, WA 98903
      View Details
    • $14 SF/Yr
      11,134 SF

      Prime Yakima County Creative Office Space

      Large Creative Office Space Available; 11,134 sq ft.
      2319 1St St, Yakima, WA 98903
      View Details

    Property Visit Statistics

    • Visits by month
      6.1k
    • Visitors by month
      4.3k
    • Avg Time on site
      9 min
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    3008 Main St
    Union Gap, WA 98903-1758
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    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
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