Adaptable Commercial Building on
For Sale
Contact for pricing
101 E Main Avenue, Morton, WA 98356
Versatile commercial building suitable for various business uses.
Property Size900 SF
Price / SF$250
Days on Market172
Property Features for 101 E Main Avenue
General Information
Standard status
Active
Size
900 SF
Property subtype
Special Purpose
Listing Agency:
CENTURY 21 Lund, Realtors
Listed By:
Kelly Melberg · License #22009440
Source:
Crexi
Added: Feb 21
Changed: Aug 8
Last Checked: Aug 11 at 3:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CENTURY 21 Lund, Realtors
Investment Insights
Based on property information with market context.
This commercial building, offering just under 900 sq ft, features a layout suitable for various business applications. The interior includes two private offices and an open reception area. A kitchen area and bathroom are also present. The property is located on a corner lot and provides seven parking spaces in the front, with additional space in the back for overflow parking. The building has previously served as a bank, insurance office, and massage studio. This location offers visibility and adaptability.
Key Highlights
- Highly accessible corner lot location with high visibility.
- Versatile layout suitable for various business types.
- Seven front parking spaces with additional overflow parking in the back.
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
$14,468
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
6.43%
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%
$289,360
$289.4K
Cap Rate 7%
$206,686
$206.7K
Cap Rate 9%
$160,756
$160.8K
Market Conditions
NOI Build-Up for 900 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
$24.7K $27.48/SF
− Vacancy
−$5.4K −$6.05/SF
EGI
$19.3K $21.43/SF
− OpEx
−$4.8K −$5.36/SF
NOI
$14.5K $16.08/SF
Area
Lewis County, WA
Vacancy
22.00%
Lease Rate
$27.48 /SF/Yr
Expense Ratio
25.00%
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%
$289,360
Cap Rate 7%
$206,686
Cap Rate 9%
$160,756
Alternative Uses
Best Use
Office B
$206.7K
$180.9K – $241.1K
NOI $14,468 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.5K
$240.2K – $320.3K
NOI $19,215 @ 7.0% cap · market cap 8.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Explore this area
Business Placement
Demographics for 98356, WA
2,179
Population
1,087
Households
2
Avg Household Size
52
Median Age
13%
College-Educated
89%
High-School Grad
125.8 sq mi
ZIP Area
17
Density / Sq Mi
$49,507
Median Household Income
$36,761
Median Earnings
$1,047
Median Rent
$281,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Versatile commercial building suitable for various business uses.
Where is this office units located?
The property is located at 101 E Main Avenue Morton, WA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Highly accessible corner lot location with high visibility.; Versatile layout suitable for various business types.; Seven front parking spaces with additional overflow parking in the back.
