Fully Leased Retail
For Sale
Contact for pricing
1221 17th Ave, Longview, WA 98632
Retail building with five separate suites, fully leased to salon, massage, daycare, and barber tenants.
Property Size4,266 SF
Lot Size0.12 Acres
Price / SF$138.98
Days on Market199
Property Features for 1221 17th Ave
General Information
Standard status
Active
Size
4,266 SF
Class
C
Lot size
0.12 Acres
Property subtype
Retail
Zoning
C02
Occupancy
100%
Net Operating Income
$33,476
Building Details
Year Built
1958
Year Renovated
2020
Buildings
1
Stories
1
Units
5
Tenancy
Multi
Listing Agency:
John L Scott Inc
Listed By:
Diane Lokan · License #96432
(360) 425-5815
Source:
Crexi
Added: Feb 18
Changed: Sep 4
Last Checked: Sep 1 at 5:19AM
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 John L Scott Inc
Investment Insights
Based on property information with market context.
This fully leased retail building is configured with five separate spaces, occupied by long-term tenants including a salon, massage therapist, daycare (two spaces), and a barber. The suites have had recent updates, supporting a maintained, move-in-ready tenant experience.
The property includes street parking and also benefits from the current owner leasing part of an adjacent parking lot. It is described as having a great downtown location, and the building is offered for sale as an investment opportunity.
The building totals 4,266 square feet, situated on a 5,401 square foot lot.
The property includes street parking and also benefits from the current owner leasing part of an adjacent parking lot. It is described as having a great downtown location, and the building is offered for sale as an investment opportunity.
The building totals 4,266 square feet, situated on a 5,401 square foot lot.
Key Highlights
- Fully leased retail building built in 1958
- 5 separate retail spaces with long‑term tenants including a salon, massage therapist, two daycare spaces, and a barber
- Building size is 4,266 SF on a 5,401 SF lot
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
$51,494
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
8.69%
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%
$1,029,880
$1.0M
Cap Rate 7%
$735,629
$735.6K
Cap Rate 9%
$572,156
$572.2K
Market Conditions
NOI Build-Up for 4,266 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
$76.8K $18.00/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$73.6K $17.24/SF
− OpEx
−$22.1K −$5.17/SF
NOI
$51.5K $12.07/SF
Area
Cowlitz County, WA
Vacancy
4.20%
Lease Rate
$18.00 /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%
$1,029,880
Cap Rate 7%
$735,629
Cap Rate 9%
$572,156
Alternative Uses
Best Use
Retail
$735.6K
$643.7K – $858.2K
NOI $51,494 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,387 @ 7.0% cap · market cap 16.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,487
Businesses Nearby
140k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 31%
Shops & Services 31%
Groceries 22%
Apparel 9%
Safeway
Groceries
30,948 visits/mo
0.1 miles
Dutch Bros. Coffee
Dining
18,882 visits/mo
0.4 miles
Safeway Gas
Shops & Services
16,977 visits/mo
0.2 miles
Goodwill
Apparel
12,890 visits/mo
0.3 miles
Jack in the Box
Dining
11,944 visits/mo
0.3 miles
Demographics for 98632, WA
50,721
Population
21,787
Households
2.3
Avg Household Size
41
Median Age
16%
College-Educated
90%
High-School Grad
121.4 sq mi
ZIP Area
418
Density / Sq Mi
$64,705
Median Household Income
$40,928
Median Earnings
$1,142
Median Rent
$355,200
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Retail building with five separate suites, fully leased to salon, massage, daycare, and barber tenants.
Where is this retail space located?
The property is located at 1221 17th Ave Longview, WA.
What is the asking price?
The asking price for this property is $592,900.
What are key features of this property?
This property features: Fully leased retail building built in 1958; 5 separate retail spaces with long‑term tenants including a salon, massage therapist, two daycare spaces, and a barber; Building size is 4,266 SF on a 5,401 SF lot
