$2,950,000
Yakima, WA 98901
MLS# 24-137
34473 sqft
1 / 15
Property Description
THIS OFFERING presents an opportunity to acquire a ''value add'' well-positioned multi-tenant office building in the heart of downtown Yakima. Structured in an intentionally transparent manner, this investment grade offering comes with minimal downside exposure and considerable upside opportunity. Remodeled just prior to COVID, this building has a current vacancy of approximately 50% and below market rents leaving it primed for a value-add opportunity. The current property owner is retiring and wishes to consolidate assets, leaving the upside to the next investor. Offered at $89/SF this building is positioned aggressively, leaving room for capital improvements to help recapture higher rents and reduce existing vacancy. With several larger spaces available, this building is ideal for an owner/user looking to mitigate rent expenses through lease income generated from the building. Make this your signature building and generate income in the process. Considerable upside potential combined with the owner's retirement plans make this property worth a second look to investors.
Details
Maps
Contract Information
List Pr Description: Total List Price
Seller Disclosure: No
Current Price: $2,950,000
MLS Service Begin Date: 2024-01-26
Status: Active
List Price: $2,950,000
Sub Type: Commercial Property
General Property Description
Lot Front Ft Approx: 300
Lot Depth Ft Approx: 150
Total Approx Lot SF: 47916
Acreage M/L: 1.1
Total Space Avail SF: 14022
List Price Per SqFt: 85.57
Realtor.COM Type: Commercial
Sale/Lease: For Sale
Main Use: Office
Detail Use: Office Building
Year Built: 1980
Total Apx SF: 34473
Location, Tax & Legal
Taxes: 20986.44
Tax Year: 2024
Spec Tax Designation: None
Parcel Number: 191319-2445, 24446, 24447, 24442
Area (with SubArea): 1B - SE Yakima
House Number: 101-111
Street Dir: S
Street Name: 3RD
Street Suffix: St
State/Province: WA
Zip Code: 98901
Remarks & Misc
Public Remarks: THIS OFFERING presents an opportunity to acquire a ''value add'' well-positioned multi-tenant office building in the heart of downtown Yakima. Structured in an intentionally transparent manner, this investment grade offering comes with minimal downside exposure and considerable upside opportunity. Remodeled just prior to COVID, this building has a current vacancy of approximately 50% and below market rents leaving it primed for a value-add opportunity.
The current property owner is retiring and wishes to consolidate assets, leaving the upside to the next investor. Offered at $89/SF this building is positioned aggressively, leaving room for capital improvements to help recapture higher rents and reduce existing vacancy.
With several larger spaces available, this building is ideal for an owner/user looking to mitigate rent expenses through lease income generated from the building. Make this your signature building and generate income in the process.
Considerable upside potential combined with the owner's retirement plans make this property worth a second look to investors.
Directions: From Yakima Ave, South on 3rd Street one block, located on your left.
Basement
Partially Finished: 1
Property Information
Ann 3-Net Rate By SF: 3.84
# Onsite Uncov Park: 58
Domestic Water
Public Water: 1
Air Conditioning
Central Air: 1
Lot Size
1+ - 5.0 Acres: 1
Foundation
Concrete: 1
Heat
Gas: 1
Sewage System
Connected: 1
Construction Style
Block: 1
Zoning
CBD - Cent Bus Dist: 1
Roof
Built-Up: 1
Lot Features
Bus Line: 1
Corner: 1
Curbs/Gutters: 1
Level: 1
Paved Road: 1
Floor Coverings
Carpets: 1
Concrete: 1
Siding
Stucco: 1
Terms
Conventional: 1
Status Change Info
Status Change Date: 2024-01-26
Property Features
Air Conditioning: Central Air
Basement: Partially Finished
Construction Style: Block
Domestic Water: Public Water
Floor Coverings: Carpets; Concrete
Foundation: Concrete
Heat: Gas
Lot Features: Bus Line; Corner; Curbs/Gutters; Level; Paved Road
Lot Size: 1+ - 5.0 Acres
Roof: Built-Up
Sewage System: Connected
Siding: Stucco
Terms: Conventional
Zoning: CBD - Cent Bus Dist
Listing Office: Almon Commercial-Residential Real Estate
Last Updated: January - 08 - 2026
Property profiling information contained herein is believed to be accurate, but may contain approximations or estimates where appropriate. The information contained herein is not guaranteed. This information is provided for the sole use and benefit of those authorized to access Yakima Association of Realtors® ('YAR') Multiple Listing Service ('MLS') information, and may not be reproducerepresened to third parties as information produced, warranted, or represented by YAR or MLS to be guaranteed.