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Property profile & analytics
OFF-MARKET
Estimated value
$13,435,000
Outlet malls
5801 Summitview Ave Yakima, WA 98908-3006
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US90-1546690
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
118,830 SF
Lot
5.34 ac (232,610 SF)
Zoning code
LCC
APN
181321-24443
UPID
US90-1546690
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
-
Shopko Department Store
-
Wilco Farm Store Pet Store & Service
-
higi Physician
-
Kenneth Antles Pharmacy
-
Adela Waldie Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.54M
Comparable Approach
Comparable
$13.96M
Blend (final)
Blend
$13.44M
Owner & transaction history
Summit Northwest LLC · 11 yrs held
Summit Northwest LLC
since 2015
2 recorded transactions
Zoning & alternative use
LCC · Yakima, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose and intent of the large convenience center district is to: Provide areas for commercial activities outside the downtown commercial district that meet the retail shopping and service needs of the community.
Zone name
Large Convenience Center District
General category
COMMERCIAL
Zone area
97.36 ac
Source
Realmo
Top alternative use upside
Office building
$22.1M
+37.1%
Industrial (general)
$19.4M
+19.8%
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%
$20,080,000
6.5%
$18,535,000
7%
$17,210,000
Alternative Use
Use
Estimation
RETAIL STORES
$16,150,000
Current use
OFFICE BUILDING
$22,145,000
Change: +37% · Conversion: Easy
INDUSTRIAL (GENERAL)
$19,355,000
Change: +20% · Conversion: Difficult
AUTO REPAIR, GARAGE
$15,120,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$13.44M
Range $12.09M – $14.78M · ±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
$113 / 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
$125,026
Tax year 2024
Assessed value
$14,176,000
Assessed 2024
Previous assessed
$12,709,600
+11.5% YoY
Effective rate
0.88%
On assessed value
Assessed land
$1,861,000
Assessed improvement
$12,315,000
Land market value
$1,861,000
Improvement market value
$12,315,000
Total market value
$14,176,000
Applied tax rate
585.0000
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Total area
118,830 SF
Lot
5.34 ac (232,610 SF)
Zoning code
LCC
APN
181321-24443
UPID
US90-1546690
Jurisdiction
YAKIMA
Zoning & alternative use
LCC · Yakima, WAZoning LCC · permitted uses
LCC · Yakima, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose and intent of the large convenience center district is to: Provide areas for commercial activities outside the downtown commercial district that meet the retail shopping and service needs of the community.
Zone name
Large Convenience Center District
General category
COMMERCIAL
Zone area
97.36 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$16.2M
OFFICE BUILDING
Est. value
$22.1M
INDUSTRIAL (GENERAL)
Est. value
$19.4M
AUTO REPAIR, GARAGE
Est. value
$15.1M
RETAIL STORES Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1989
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
5.34 ac
Current owner
From public records · entity-resolved
Summit Northwest LLC
Entity
Mailing address
PO BOX 18194, SEATTLE, WA 98118-0194
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 14, 2015
—
Summit Northwest LLC
Spirit Spe Portfolio 2006-2 LLC
Special Warranty Deed
$6,370,000 · Wells Fargo Bank NA
Jan 31, 2006
—
Shopko Properties Spe Real Estate L
Shopko Properties LLC
Quit Claim Deed
related
—
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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