Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    505 40th Ave Yakima, WA 98908-2670
    Back to Search
    Property profile & analytics

    505 40th Ave, Yakima, WA 98908-2670

    View on Map
    • Assisted living facilities
    • 28,505 SF
    • 2.59 lot acres
    Off-Market
    Property ID
    US90-1086678
    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.
    Value Estimations
    $925,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Crescent Health Care / Nursing Home

    Property Details for 505 40th Ave

    Year built
    1962
    Construction
    WOOD
    Lot size
    2.59 lot acres
    Zone code
    R1
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    181322-12009
    APU
    18132212009

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 3, 2026 $1,400,000 505 N 40th Ave Snf Real Estate LLC Hyattcenters-crescent LLC Bargain & Sale Deed $40M
    Nov 19, 2004 — Hyattcenters-crescent LLC Hyatt,h N & Karen S Quit Claim Deed · related $4.6M · Prudential Huntoon Paige Assoc
    — — H N Hyatt — Deed Of Trust · related $207k · Home Security Bank
    — — H N Hyatt — Deed Of Trust · related $1.3M · American West Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,145,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $700,000
      Market price range: $618k - $1.02M

    • Alternative Use

      Use
      Estimation
      HOMES (RETIRED, HANDICAP, REST, CONVALESCENT, NURSING)
      $765,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Yakima
    County
    Yakima
    State
    Washington
    Longitude
    -120.561
    Latitude
    46.6057
    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
    $30,582
    $677,200
    $2,767,000
    $3,444,200
    -
    $677,200
    $2,767,000
    $3,444,200

    Comparable in this City

    • Value Estimation
      $670,000
      33,125 SF

      5401 Walnut St

      HOMES (RETIRED, NURSING)
      5401 Walnut St, Yakima, WA 98908-3206
      View Details
    • Value Estimation
      $915,000
      37,550 SF

      211 40th Ave

      HOMES (RETIRED, NURSING)
      211 40th Ave, Yakima, WA 98908-2900
      View Details
    • Value Estimation
      $1,870,000
      65,606 SF

      4130 Englewood Ave

      HOMES (RETIRED, NURSING)
      4130 Englewood Ave, Yakima, WA 98908-2634
      View Details
    • Value Estimation
      $1,760,000
      60,204 SF

      4100 Englewood Ave

      HOMES (RETIRED, NURSING)
      4100 Englewood Ave, Yakima, WA 98908-2677
      View Details
    • Value Estimation
      $1,025,000
      32,824 SF

      225 40th Ave

      HOMES (RETIRED, NURSING)
      225 40th Ave, Yakima, WA 98908-2944
      View Details
    • Value Estimation
      $1,065,000
      29,752 SF

      4120 Englewood Ave

      HOMES (RETIRED, NURSING)
      4120 Englewood Ave, Yakima, WA 98908-2675
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,591 SF

      Yakima Medical Facility For Sale

      Well-equipped medical facility leased to MultiCare Hospital until March 2027.
      504 North 40Th Ave, Yakima, WA 98908
      View Details
    • Contact for pricing
      14,738 SF

      Walgreens on Nob Hill Boulevard

      Retail property with long-term lease in Yakima, Washington.
      6400 W Nob Hill Blvd, Yakima, WA 98908
      View Details
    • Contact for pricing
      2,920 SF

      West Yakima Mixed-Use Commercial Property

      Versatile property with three units, ideal for investors/owner-users.
      4813 Tieton Dr, Yakima, WA 98908
      View Details
    • $32,000
      Pending

      Yakima Land for Outdoor Recreation

      9.81 acres bordering state land, ideal for recreation.
      NKA10 Windyheart Ln, Yakima, WA 98908
      View Details
    • Contact for pricing

      Refurbished Yakima Mixed-Use Property

      Mixed-use retail, office, and restaurant property in Yakima, Washington.
      5110 Tieton Dr, Yakima, WA 98908
      View Details
    • $60,000
      14.53 Acres

      Yakima Land Parcel For Sale

      Residential land parcel available in Yakima, WA.
      E Pheasant Hl Rd, Yakima, WA 98908
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,784 SF

      Retail Space in Safeway Center

      Standalone retail space in busy shopping center, Yakima, WA.
      5802 Summitview Ave, Yakima, WA 98908
      View Details
    • Contact for pricing

      Yakima Retail Space for Lease

      Retail space available in Yakima, anchored by Rosauers.
      420 South 72Nd Ave, Yakima, WA 98908
      View Details
    • Contact for pricing
      1,702 SF

      Glenwood Corner Retail Space Available

      Prime retail space available in Glenwood on the Corner.
      432 S 48Th Ave, Yakima, WA 98908
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    505 40th Ave
    Yakima, WA 98908-2670
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    505 40th Ave, Yakima, WA, 98908
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!