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

    117 E Grove Street Shelton, WA 98584

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $600,000

    Commercial land and buildings in downtown Shelton, Washington.

    Type:General Commercial
    Lot size:
    0.75 Acres
    Added:
    Apr 22, 2022
    Days on Market:
    1468
    Last Refresh:
    Apr 1 at 9:12 pm

    Property Features for 117 E Grove Street

    General Information

    Standard status
    Active
    Lot size
    0.75 Acres
    Property subtype
    General Commercial

    Building Details

    Year Built
    1963

    We can help!

    Listing Contact
    Gretchen Miller

    Listing agent Gretchen Miller

    Listing office ASPA

    Listing date Apr 22, 2022

    Source Xome

    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 ASPA

    Overview

    Shelton Commercial Land and Buildings

    This commercial opportunity is located in downtown Shelton, Washington. The property includes brake and muffler shop buildings with commercial land totaling over 0.75 acres. The site features a fenced storage lot and an additional building with power. The front lot is currently rented to a food truck vendor, offering advertising potential with frontage on Highway 3. The sale includes four separate parcels and two buildings. The property was previously built for Les Schwab. Note that no personal property or the business itself is included in the sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Hometowne Brake and Muffler — 125 E Grove St, Shelton, WA 98584
    • Cary's Tire & Repair — 202 S 1st St, Shelton, WA 98584
    • FLOWMASTER — E Cota St, Shelton, WA 98584
    • Vander Wal's Garage Inc. — 321 S 2nd St, Shelton, WA 98584
    • BS&R Saw Shop — 1505 division st, shelton, wa 98584

    Location Insight

    • Map
    • Local Demand
    City
    Shelton
    County
    Mason
    State
    Washington
    Longitude
    -123.0996934
    Latitude
    47.2108351

    Nearby Similar for Sale

    • $769,950
      4,212 SF

      Commercial Building Near Spencer Lake

      4,212 SF commercial building on one acre near Spencer Lake.
      2810 E Spencer Lake Road, Shelton, WA 98584
      View Details
    • $999,990
      9,160 SF

      Versatile Commercial Building on Large Lot

      9,160 SQFT commercial building on 1.6 Acres ready for business.
      21 Adonai Ct, Shelton, WA 98584
      View Details
    • $999,990

      Versatile Commercial Building on Large Lot

      9,160 SF commercial building on 1.6 acres for sale.
      21 E Adonai Ct, Shelton, WA
      View Details
    • $1,600,000
      3,000 SF

      Entitled Development Opportunity in Shelton

      Fully entitled 88-unit PUD in Opportunity Zone.
      11750 US-101, Shelton, WA 98584
      View Details
    • $75,000

      Capitol Hill Land Opportunity

      Five adjoining parcels totaling 1.12 acres on Capitol Hill.
      111 Bear Street, Shelton, WA 98584
      View Details
    • $999,990
      9,160 SF

      Versatile Commercial Building on Large Lot

      9,160 SF commercial building on 1.6 acres ready for business.
      21 Adonai Court, Shelton, WA 98584
      View Details
    • $995,000
      18,860 SF

      Versatile Commercial Property Near Highway 101

      2.96-acre commercial property with cold storage and processing capabilities.
      200 SE Clearwater Ridge, Shelton, WA 98584
      View Details
    • $615,000

      85 Acres Timberland Near Shelton

      85 acres of timberland zoned RR10 near Hood Canal.
      1 XX West California Road, Shelton, WA 98584
      View Details
    • $940,800

      Mason County Land Opportunity

      120.06 acres near Shelton with timber and development potential.
      10 XX E Shetland Road, Shelton, WA 98584
      View Details
    • $235,000

      Harstine Island Level Acreage

      Ten level acres on Harstine Island with development potential.
      2561 E Harstine Island Road N, Shelton, WA 98584
      View Details
    • $7,960,000
      62,006 SF

      Shelton Shopping Center For Sale

      Fully occupied shopping center anchored by long-term tenants.
      2505 Olympic Hwy N, Shelton, WA 98584
      View Details
    • $1,460,000
      3,900 SF

      Shelton Multifamily Investment Opportunity

      Two well-maintained 4-plexes with income potential in a prime location.
      1125 13th St, Shelton, WA 98584
      View Details

    FAQs

    What type of property is this?
    Auto shop - Commercial land and buildings in downtown Shelton, Washington.
    Where is this auto shop located?
    The property is located at 117 E Grove Street Shelton, WA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: Prime Commercial Land: Over 3/4 acre in Downtown Shelton.; Highway 3 Frontage: Excellent advertising opportunity.; Former Les Schwab Location: Shop built for Les Schwab.
    (206) 354-4586
    We can help!
    Listing Contact
    Gretchen Miller
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!