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Property profile & analytics
OFF-MARKET
Estimated value
$8,600,000
Manufacturing properties
3401 Bay St Union Gap, WA 98903-1886
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-0929940
Property profile
Verified
Property type
Manufacturing properties
Use group
FOUNDRY, INDUSTRIAL PLANT
Year built
2000
Construction
METAL FRAME
Total area
50,177 SF
Lot
4.58 ac (199,505 SF)
Zoning code
M1
APN
191206-43405
UPID
US90-0929940
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
$8.36M
CAP Approach
CAP
$6.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.60M
Owner & transaction history
Magic Industrial Park LLC · 4 yrs held
Magic Industrial Park LLC
since 2021
Last sale
$9.0M
6 recorded transactions
Zoning & alternative use
M1 · Union Gap, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
code of ordinances
Top alternative use upside
Medical building
$9.7M
+18.9%
Office building
$9.4M
+14.4%
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
$7,955,000
ML approach
$8,355,000
CAP Approach
CAP Return
Estimation
6%
$6,630,000
6.5%
$6,120,000
7%
$5,680,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$8,170,000
Current use
MEDICAL BUILDING
$9,715,000
Change: +19% · Conversion: Difficult
OFFICE BUILDING
$9,350,000
Change: +14% · Conversion: Difficult
RETAIL STORES
$6,820,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$8.60M
Range $7.74M – $9.46M · ±10% · vs last sale $9.05M (Dec 22 2021)
Last sale anchor
$9.05M
Dec 22 2021
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
$171 / 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
$46,160
Tax year 2024
Assessed value
$6,722,400
Assessed 2024
Previous assessed
$6,256,900
+7.4% YoY
Effective rate
0.69%
On assessed value
Assessed land
$199,500
Assessed improvement
$6,522,900
Land market value
$199,500
Improvement market value
$6,522,900
Total market value
$6,722,400
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
Manufacturing properties
Use group
FOUNDRY, INDUSTRIAL PLANT
Status
Off-Market
Year built
2000
Construction
METAL FRAME
Heating
SPACE
Cooling
YES
Buildings
2
Stories
1
Total area
50,177 SF
Lot
4.58 ac (199,505 SF)
Zoning code
M1
APN
191206-43405
UPID
US90-0929940
Jurisdiction
YAKIMA
Zoning & alternative use
M1 · Union Gap, WAZoning M1 · permitted uses
M1 · Union Gap, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$8.2M
MEDICAL BUILDING
Est. value
$9.7M
OFFICE BUILDING
Est. value
$9.4M
RETAIL STORES
Est. value
$6.8M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
2000
Construction
METAL FRAME
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Lot
4.58 ac
Current owner
From public records · entity-resolved
Magic Industrial Park LLC
Entity
Mailing address
3401 BAY ST, UNION GAP, WA 98903-1886
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2021
$9,046,153
Magic Industrial Park LLC
Mirror Magic LLC
Warranty Deed
$6,720,000 · Columbia State Bank
Nov 12, 2009
—
Mirror Magic LLC
Griggs,garry & Vera
Quit Claim Deed
related
—
May 3, 2006
—
Mirror Magic LLC
Griggs,garry L & Vera R
Quit Claim Deed
related
—
—
—
Mirror Magic LLC
—
Deed Of Trust
related
$1,400,000 · Columbia State Bank
—
—
Mirror Magic LLC
—
Deed Of Trust
related
$1,750,000 · American West Bank
—
—
Mirror Magic LLC
—
Deed Of Trust
related
$650,000 · Columbia State Bank
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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