Building Details

Year built 1925

Floors in Building 1

Building materials Frame, WoodSiding

Roof type Metal

Listing Agency: Windermere Northwest Living · Windermere Real Estate w***@windermere.com Show Phone

Listed By: David Thelin Show Phone

Added: Aug 12, 2024 Changed: Sep 7 Last Checked: Sep 11 at 2:06AM

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MLS# 24489787

Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$15,134

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

3.78%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$302,680 $302.7K

Cap Rate 7%

$216,200 $216.2K

Cap Rate 9%

$168,156 $168.2K

Market Conditions

NOI Build-Up for 1,180 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$25.5K $21.60/SF

− Vacancy

−$1.3K −$1.08/SF

EGI

$24.2K $20.52/SF

− OpEx

−$9.1K −$7.70/SF

NOI

$15.1K $12.83/SF

Area

Lewis County, WA

Vacancy

5.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$302,680

Cap Rate 7%

$216,200

Cap Rate 9%

$168,156

Alternative Uses

Best Use

Mixed Use

$216.2K

$189.2K – $252.2K (±1% cap)

NOI $15,134 @ 7.0% cap · market cap 3.78%

Second Best

Specialty Retail

$177.3K

$155.2K – $206.9K (±1% cap)

NOI $12,413 @ 7.0% cap · market cap 3.10%

Theoretical Best

Office A

$359.9K

$314.9K – $419.9K (±1% cap)

NOI $25,193 @ 7.0% cap · market cap 6.30%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Bars & Pubs

Suggested Use

Top Pick Parking Lot & Garage Computer & Electronic Repair Florist Grocery & Convenience Store Daycare Center Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

Explore this area Business Placement

Demographics for 98582, WA

640

Population

240

Households

2.7

Avg Household Size

49

Median Age

20%

College-Educated

83%

High-School Grad

5.8 sq mi

ZIP Area

110

Density / Sq Mi

$86,117

Median Household Income

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

Where is this mixed-use property located?

The property is located at 157 Salkum Rd Salkum, WA.

What is the asking price?

The asking price for this property is $399,900.