Guardian Business Center
A 2008-vintage small-bay industrial flex asset just outside Yakima, WA in Union Gap. Offering hard to find modern-construction and grade-level small bays which appeal to local trades, service businesses, and other hands-on operators, the property has consistent cash-flow and near-term upside.
Highly Desirable Small-Bay Industrial Asset
Constructed in 2008, Guardian Business Center offers modern small-bay flex space in one of the most durable asset classes in today's market. Functional bay sizes and grade-level access cater to a wide range of local users, from contractors and service businesses to automotive and light industrial tenants.
Built for Yakima Valley Small Businesses
The business center is currently occupied by a mix of local operators, including auto services, construction related tenants, trucking, and other specialty businesses. This tenant profile aligns with Yakima County's ongoing small-business ecosystem and reinforces the property's position in the local economy.
Straightforward Operations and Leasing
Small-bay industrial offers a simple operating model with practical spaces, limited common-area complexity, and broad utility across tenant types. The layout, fencing, and grade-level floorplans support efficient operations and hands-on usability for everyday business operators.
Potential Lease Improvement Upside
As leases roll, a new owner may have the opportunity to standardize lease terms and increase tenant reimbursement through modified gross or even NNN structures. A more consistent expense-recovery structure could strengthen NOI and create a cleaner, more predictable income stream.
Offering Details
Offered at $3,200,000, Guardian Business Center features 30 small-bay flex industrial units and a separate building that could be repurposed. With a diversity of tenants and industries represented, the property offers resilient demand and stable cash flow.
Access DocumentsProperty Summary
Property Name
Guardian Business Center
Address
112 W Washington Avenue
City, State, Zip
Union Gap, WA 98903
Year Built
2008
Parcel ID
191331-32502
Zoning
CBD
Acreage
0.62 acres
# of Units
30
SF Per Unit
950
Net Rentable Space
28,500 SF
Pricing Summary
Price
$3,200,000
Price / Unit
$106,667
Price / SF
$112.28
Current CAP Rate
6.19%
Proforma CAP Rate
7.96%
The Opportunity
Flexible Industrial Asset Featuring 2008 Construction and Small Bays
Guardian Business Center is a 2008-vintage small-bay industrial asset outside Yakima in Union Gap, WA. It offers a hard-to-find combination of modern construction, gradelevel functionality, and small bay sizes that appeal to the backbone of the Yakima Valley economy: local trades, service businesses, and other hands-on operators. In a market where large-format industrial properties often miss the needs of smaller businesses, the business center fills an important niche for local businesses.
Located in Union Gap, Guardian is within one of the Yakima Valley's most active commercial corridors, with proximity to major transportation infrastructure and a municipality that continues to support business licensing, planning, and economic development. City planning efforts emphasize transportation, downtown development, and long-range growth, while regional infrastructure investment such as the Beltway Connector should further strengthen freight movement and commercial accessibility over time.
Guardian Business Center is not dependent on one large user, instead it appeals to diversified tenants across multiple industries which creates resilient demand and stable cash flow. Near-term upside likely comes from lease standardization, improved expense recoveries, and sharper positioning of the asset as a small-business industrial center.
The Location
Ideal location near transportation access, suppliers, and economic drivers
112 W Washington Avenue, Union Gap, WA 98903Photographs
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Market Overview
Yakima, WA
The Yakima Valley offers investors access to one of Central Washington's most established and diverse regional economies. With an estimated population of 258,000 in 2024, the current planning framework projects growth to nearly 300,000 by 2046. That long-term outlook is supported by a broad local employment base of over 5,000 distinct employers, 71,000 jobs, and more than $4 billion in retail sales.
Yakima's economy is anchored by more than just agriculture. Washington's Employment Security Department listsagriculture, government, healthcare, retail, and manufacturing as the county's largest employment sectors supporting yearround economic activity across a wide range of industries. Major employers include Washington Fruit & Produce, Yakima Valley Farm Workers Clinic, MultiCare Yakima Memorial Hospital, and Borton Fruit.
Yakima also benefits from the infrastructure and industry mix needed to support long-term business activity across multiple asset classes. The Yakima Valley's regional economic development efforts highlight immediate four-lane interstate access, BNSF rail service, and the Yakima Air Terminal as core competitive advantages for industries such as food processing, warehousing and distribution, industrial machinery, and aerospace. Combined with broad regional connectivity and a diverse employer base, these fundamentals continue to support Yakima's position as a durable Central Washington investment market.
Reasons To Invest Here
- 5.9%
Industrial Vacancy Rate
(Q1 2026)
- 0.90%
Avg Rent Growth - Flex
(Q1 2026)
- $16.30/SF/YR
Avg Asking Rent - Flex
(Q1 2026)
- 7.86%
Industrial Cap Rate - Flex
(Q1 2026)
- 5.1K
Businesses in the Market
(Q1 2026)
- 32K
Employment in Trade/Transportation/Construction/Mfg
(Q1 2026)
- ~48K VPD
Local Traffic Counts
(Q1 2026)
Sources available upon request.
Our Team
Multifamily Mason
Multifamily Mason is a brokerage firm specializing in multifamily property sales and advisory services within the Inland Northwest. We uphold the core values of integrity, mastery, and ownership. These principles guide all our business decisions and interactions with our clients, investors, and stakeholders.
Our extensive market knowledge, in-depth data analysis, valuable insights, and strong industry relationships have established us as trusted advisors and a go-to source for those exploring the Inland Northwest markets or investing in multifamily properties within tertiary markets.
We foster long-term relationships and prioritize our clients' best interests, even if it means delaying immediate deals. We believe in collaboration and creating opportunities for mutual success, including working with potential competitors.
Lead Broker
Mason Fiascone
Mason is the founder of Multifamily Mason and specializes in the sale and advisory services of multifamily properties across the Inland Northwest with a specific focus on Central Washington and Tri-Cities. Mason leads the sales and asset management organizations at Multifamily Mason, meaning he partners with owners, investors, and developers seeking to maximize their property returns, bringing valuable expertise to every interaction. He is committed to building long-term relationships by providing clients with market insights and unique deal opportunities.
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