Flex Space with Shop
For Sale
$699,999
1101 N National Ave, Chehalis, WA 98532
Commercially zoned building combining office space, high-ceiling shop space, and multiple bathrooms.
Property Size2,890 SF
Price / SF$242.21
Days on Market41
Property Features for 1101 N National Ave
General Information
Standard status
Active
Size
2,890 SF
Zoning
commercial
Site & Location
Traffic Count
10,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
office space
high ceiling shop space
multiple bathrooms
Building Details
Year Built
2001
Buildings
1
Building Size
2,890 SF
Construction
hardy-plank siding
Listing Agency:
Realty One Group Bold
(360) 634-8600
Listed By:
Tucker Stanley
Source:
Navidirealty
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 25 at 5:14AM
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 Realty One Group Bold
Investment Insights
Based on property information with market context.
This 2,890-square-foot flex property combines office areas with a high-ceiling shop and multiple bathrooms. The building dates to 2001 and features hardy-plank siding. Its configuration is suited to mechanic, construction, roofing, plumbing, electrical, and other service-oriented operations supported by the existing space.
Positioned on N National Ave with access from I-5, the property benefits from an estimated 10,000+/- vehicles per day along the corridor. Surrounding retail and services add convenience for customers and daily operations. The site includes an asphalt parking lot with ingress and egress that was sealed in 2025. The roof was replaced roughly 6 years ago.
Positioned on N National Ave with access from I-5, the property benefits from an estimated 10,000+/- vehicles per day along the corridor. Surrounding retail and services add convenience for customers and daily operations. The site includes an asphalt parking lot with ingress and egress that was sealed in 2025. The roof was replaced roughly 6 years ago.
Key Highlights
- 2,890 SF flex building with office and high‑ceiling shop space
- Estimated 10,000+/- vehicles per day along the corridor
- Commercial zoning supports a range of commercial and service‑based uses
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
$37,359
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
5.34%
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%
$747,180
$747.2K
Cap Rate 7%
$533,700
$533.7K
Cap Rate 9%
$415,100
$415.1K
Market Conditions
NOI Build-Up for 2,890 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
$54.8K $18.96/SF
− Vacancy
−$1.4K −$0.49/SF
EGI
$53.4K $18.47/SF
− OpEx
−$16.0K −$5.54/SF
NOI
$37.4K $12.93/SF
Area
Lewis County, WA
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$747,180
Cap Rate 7%
$533,700
Cap Rate 9%
$415,100
Alternative Uses
Best Use
Retail
$533.7K
$467.0K – $622.7K
NOI $37,359 @ 7.0% cap · market cap 5.34%
Second Best
Flex RnD
$356.4K
$311.8K – $415.8K
NOI $24,947 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$881.5K
$771.3K – $1.03M
NOI $61,703 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
846
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 98532, WA
25,572
Population
10,300
Households
2.5
Avg Household Size
41
Median Age
24%
College-Educated
93%
High-School Grad
311.6 sq mi
ZIP Area
82
Density / Sq Mi
$86,057
Median Household Income
$47,467
Median Earnings
$1,070
Median Rent
$381,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Crazy Cattle Coffee Co. — Chehalis, WA 98532
- Colony House — 49 NE Division St, Chehalis, WA 98532
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned building combining office space, high-ceiling shop space, and multiple bathrooms.
Where is this flex space located?
The property is located at 1101 N National Ave Chehalis, WA.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 2,890 SF flex building with office and high‑ceiling shop space; Estimated 10,000+/- vehicles per day along the corridor; Commercial zoning supports a range of commercial and service‑based uses
