Longview Office Building For
For Sale
$3,499,999
1953 7th Ave, Longview, WA 98632
Two-story office building with long-term tenants and strong income.
Property Size13,950 SF
Lot Size1.18 Acres
Price / SF$250.90
Days on Market539
Property Features for 1953 7th Ave
General Information
Standard status
Active
Size
13,950 SF
Lot size
1.18 Acres
Taxes and HOA fees
Annual Taxes
$17,103
Listing Agency:
Woodford Commercial RE
(360) 501-5500
Listed By:
Chris Roewe · License #23495
(360) 501-5500
Source:
Exprealty
Added: Feb 27, 2025
Changed: Aug 20
Last Checked: Aug 20 at 1:57PM
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 Woodford Commercial RE
Investment Insights
Based on property information with market context.
Pioneer Plaza is a two-story office complex in Longview, Washington, offering 13,950 square feet of space with elevator access. The property is situated on 51,130 square feet of land, comprising four separate tax parcels. Significant renovations were completed in 2004 and 2019, with multiple interior upgrades performed over the years. The building is occupied by long-term tenants and provides a consistent income stream.
Key Highlights
- Strong, consistent income stream with an attractive 7.6% Cap Rate/Return
- Benefit from reliable long‑term tenants
- Significant renovations completed in 2004 and 2019
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
$228,702
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
6.53%
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%
$4,574,040
$4.6M
Cap Rate 7%
$3,267,171
$3.3M
Cap Rate 9%
$2,541,133
$2.5M
Market Conditions
NOI Build-Up for 13,950 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
$368.3K $26.40/SF
− Vacancy
−$63.3K −$4.54/SF
EGI
$304.9K $21.86/SF
− OpEx
−$76.2K −$5.46/SF
NOI
$228.7K $16.39/SF
Area
Cowlitz County, WA
Vacancy
17.20%
Lease Rate
$26.40 /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%
$4,574,040
Cap Rate 7%
$3,267,171
Cap Rate 9%
$2,541,133
Alternative Uses
Best Use
Office B
$3.27M
$2.86M – $3.81M
NOI $228,702 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.60M
$4.02M – $5.36M
NOI $321,729 @ 7.0% cap · market cap 9.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,676
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with long-term tenants and strong income.
Where is this office building located?
The property is located at 1953 7th Ave Longview, WA.
What is the asking price?
The asking price for this property is $3,499,999.
What are key features of this property?
This property features: Strong, consistent income stream with an attractive 7.6% Cap Rate/Return; Benefit from reliable long‑term tenants; Significant renovations completed in 2004 and 2019
