221 Martin Luther King Jr BlvdYakima, WA 98901

Property Details for 221 Martin Luther King Jr Blvd

Year built

1920

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.52 AC

Property size (Sq ft)

34,614 SF

Zone code

GC

Property type

Retail properties

Property subtype

Retail space

APN

191319-22449

APU

19131922449

Description

This exceptional opportunity presents a 42,201 square foot, three-story building located at 221 E Martin Luther King Jr Blvd in the heart of downtown Yakima, WA. Built in 1908, this historic structure boasts timeless charm and character, constructed of stone and brick with original stained-glass windows and a tile roof. Currently vacant, the property is zoned for commercial use and sits on a 0.52-acre lot (APN: 191319-22449). The expansive interior offers a multitude of possibilities. Features include ample space suitable for congregations or community gatherings, multiple large classrooms, private offices, a full commercial kitchen, a coffee shop, a theater area with a stage, and a full basement containing a workshop and a small apartment. Its prime downtown location provides easy access to Yakima's amenities. This property presents a unique opportunity for renovation and customization to suit a variety of needs, making it an ideal investment for those seeking a historic building with significant potential. The asking price is $1,400,000.

• CAP approach

  CAP return

  Valuation

  6%

  $9,990,819

  6.5%

  $9,222,294

  7%

  $8,563,559

• Comparable approach

  Method

  Valuation

  Relative Method

  $22,234,634

  Geo Method

  $16,798,230

• Alternative Use

  Use

  Valuation

  Residential

  $7,779,350

  Hospitality

  $7,125,843

  Educational

  $5,928,618

  Medical

  $6,132,512

  Retail

  $9,222,294

Location Insight

City

Yakima

County

Yakima

State

Washington

Latitude

46.6057

Longitude

-120.505

CBSA code

49420

CBSA name

YAKIMA, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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