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Property profile & analytics
OFF-MARKET
Estimated value
$985,000
Office buildings
502 40th Ave Yakima, WA 98908-4319
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US90-0030398
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1994
Construction
WOOD
Total area
7,333 SF
Lot
0.69 ac (30,056 SF)
Zoning code
BCOM
APN
181322-21449
UPID
US90-0030398
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
Current use
Occupant on record · Public records
-
Family Vision Care Eye Care Center Optometrist
-
Mark Ward OD Physician
-
Dr. Douglas R. Ricks, OD Physician
-
Cypher Land Surveying Land Surveyor
-
Leslie Engineering, LLC Structural Engineer Civil Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
$771k
Blend (final)
Blend
$985k
Owner & transaction history
Fieldstone South Holdings LLC · 12 yrs held
Fieldstone South Holdings LLC
since 2014
4 recorded transactions
Zoning & alternative use
BCOM · Yakima, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.4M
+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 Yakima submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Yakima 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%
$1,390,000
6.5%
$1,280,000
7%
$1,190,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,365,000
Current use
MEDICAL BUILDING
$1,420,000
Change: +4% · Conversion: Easy
INDUSTRIAL (GENERAL)
$1,195,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$985k
Range $887k – $1.08M · ±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
$134 / 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
$12,653
Tax year 2024
Assessed value
$1,441,300
Assessed 2024
Previous assessed
$1,334,800
+8.0% YoY
Effective rate
0.88%
On assessed value
Assessed land
$179,400
Assessed improvement
$1,261,900
Land market value
$179,400
Improvement market value
$1,261,900
Total market value
$1,441,300
Applied tax rate
335.0000
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
Off-Market
Year built
1994
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
7,333 SF
Lot
0.69 ac (30,056 SF)
Zoning code
BCOM
APN
181322-21449
UPID
US90-0030398
Jurisdiction
YAKIMA
Zoning & alternative use
BCOM · Yakima, WAZoning BCOM · permitted uses
BCOM · Yakima, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
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
1994
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Lot
0.69 ac
Current owner
From public records · entity-resolved
Fieldstone South Holdings LLC
Entity
Mailing address
502 N 40TH AVE UNIT #1, YAKIMA, WA 98908-4319
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2014
$1,165,280
Fieldstone South Holdings LLC
The Curtis & Jamie Holden Family Li
Warranty Deed
$1,349,200 · Wells Fargo Bank NA
Jul 14, 2004
$1,200,000
Curtis & Jamie Holden Fam
Fieldstone Property I LLC
Warranty Deed
$960,000 · Bank Of America California NA
Dec 18, 1998
—
Fieldstone Property I LLC
Taylor,michael A
Grant Deed
related
—
—
—
Fieldstone Property I LLC
—
Deed Of Trust
related
$82,574 · Us Bank NA Nd
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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