Retail Space For
For Sale
Contact for pricing
1241-1261 Harrison Ave, Centralia, WA 98531
Retail space available for purchase.
Property Size10,967 SF
Price / SF$200.60
Days on Market193
Property Features for 1241-1261 Harrison Ave
General Information
Standard status
Active
Size
10,967 SF
Class
C
Property subtype
Retail
Zoning
C1
Building Details
Year Built
1986
Stories
1
Tenancy
Multi
Listing Agency:
Keller Williams-PDX Central
(503) 548-4848
Listed By:
Brandon King · License #OR 201231154
Source:
Crexi
Added: Jan 30
Changed: Aug 9
Last Checked: Aug 11 at 9:11AM
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 Keller Williams-PDX Central
Investment Insights
Based on property information with market context.
This commercial real estate offering consists of retail space available for sale. The property encompasses a total area of 10967 square feet.
Key Highlights
- For sale
- Year built: 1986
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
$141,770
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
6.44%
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%
$2,835,400
$2.8M
Cap Rate 7%
$2,025,286
$2.0M
Cap Rate 9%
$1,575,222
$1.6M
Market Conditions
NOI Build-Up for 10,967 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
$207.9K $18.96/SF
− Vacancy
−$5.4K −$0.49/SF
EGI
$202.5K $18.47/SF
− OpEx
−$60.8K −$5.54/SF
NOI
$141.8K $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%
$2,835,400
Cap Rate 7%
$2,025,286
Cap Rate 9%
$1,575,222
Alternative Uses
Best Use
Retail
$2.03M
$1.77M – $2.36M
NOI $141,770 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.34M
$2.93M – $3.90M
NOI $234,150 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
490
Businesses Nearby
404k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 28%
Shops & Services 27%
Apparel 25%
Groceries 16%
Safeway
Groceries
65,385 visits/mo
0.2 miles
Nike Factory Store
Apparel
49,352 visits/mo
0.5 miles
Safeway Gas
Shops & Services
45,354 visits/mo
0.2 miles
McDonald's
Dining
31,536 visits/mo
0.3 miles
Starbucks
Dining
15,765 visits/mo
0.2 miles
Demographics for 98531, WA
26,669
Population
11,070
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
129.2 sq mi
ZIP Area
206
Density / Sq Mi
$61,963
Median Household Income
$37,330
Median Earnings
$1,068
Median Rent
$285,700
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 space available for purchase.
Where is this retail space located?
The property is located at 1241-1261 Harrison Ave Centralia, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: For sale; Year built: 1986
