Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    109 Main St Elma, WA 98541

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $299,000

    Historic Elma Investment Opportunity: Multi-Use Property

    Property Features for 109 Main St

    General Information

    Property type
    Other commercial real estate

    Building Details

    Year Built
    1889

    We can help!

    Listing Contact
    Gary Anderson

    Listing Agency: G. ANDERSON GROUP, LLC Listing Agent: Gary Anderson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional commercial property, located at 109 W Main Street in the heart of Elma, WA, presents a unique investment opportunity. Boasting a rich history as a family-owned building for over 35 years, this versatile property offers multiple income streams. The main floor currently houses a thriving hair salon and a contractor's office, providing immediate rental income. Above, a well-maintained one-bedroom, one-bathroom residential apartment adds another revenue source. The building has undergone significant updates throughout the years, including a newer roof, fresh interior and exterior paint, updated flooring, and modernized bathrooms. New light fixtures are also among the recent improvements. Adding to its appeal is a detached 576-square-foot garage, conveniently divided into two separate storage spaces, ideal for additional rental income or owner use. This prime location on Main Street ensures high visibility and accessibility, placing the property in the bustling center of Elma. The property is offered at $299,000 and is an excellent choice for those seeking a strong investment, particularly those considering a 1031 exchange. The combination of established tenants, recent renovations, and a desirable location makes this a truly compelling investment prospect.
    Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Elma
    County
    Grays Harbor
    State
    Washington
    Longitude
    -123.402
    Latitude
    47.00424

    Nearby Similar for Sale

    • $799,000

      203 W Main St, Elma, WA 98541

      Bars & Pubs
      203 W Main St, Elma, WA 98541
      View Details
    • $799,000
      4,357 SF

      Elma Retail Building with Parking

      4357 SF building with parking and development potential.
      203 W Main St, Elma, WA 98541
      View Details
    • Contact for pricing

      Elma Commercial Building with Exposure

      Over 3,300 SF commercial building in Elma, Washington.
      112 W Main St, Elma, WA 98541
      View Details
    • $799,000

      Elma Commercial Building with Parking

      4357 SF building with parking and alcohol license available.
      203 W Main St, Elma, WA 98541
      View Details
    • $1,250,000

      Age-Restricted Manufactured Home Community

      18-lot manufactured home community for 55+ with reliable income.
      1018 Monte Elma Rd, Elma, WA 98541
      View Details
    • $9,900,000
      2,308,680 SF

      Elma Equestrian Estate For Sale

      Exclusive equestrian estate with custom home, barns, and pastures.
      5051 Us Highway 12, Elma, WA 98541
      View Details
    • $9,900,000
      16,606 SF

      Elma Equestrian Estate For Sale

      Exclusive equestrian estate with custom home, barns, and pastures.
      5051 Us Highway 12, Elma, WA 98541
      View Details
    • $689,000
      5.77 Acres

      Porter Bar & Land Investment

      Historic Elma Commercial Property, 12 Parcels
      3 Porter Creek Rd, Elma, WA 98541
      View Details
    • $369,000

      Prime Elma Commercial Building

      Historic Main Street gem, 3712 sq ft
      319 Main St, Elma, WA 98541
      View Details
    • Contact for pricing

      Commercial Building on Main Street

      3,712 SF commercial building with high traffic location.
      319 W Main St, Elma, WA 98541
      View Details
    • Contact for pricing

      Porter Bar Historical Property

      Historical bar and vacant land on Highway 12 for sale.
      3 Porter Creek Rd, Elma, WA 98541
      View Details

    FAQs

    What type of property is this?
    Commercial real estate - Historic Elma Investment Opportunity: Multi-Use Property
    Where is this commercial real estate located?
    The property is located at 109 Main St Elma, WA.
    What is the asking price?
    The asking price for this property is $299,000.
    (360) 373-2343
    Request Owner's contact information
    109 Main St Elma, WA 98541
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    109 Main St
    Elma, WA 98541
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    109 Main St Elma, WA 98541
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gary Anderson
    Real Estate License ID: WA 43562
    (360) 373-2343 (360) 731-3739
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!