Warehouses and Land with
For Sale
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1579 N National Ave, Chehalis, WA 98532
1.95-acre property with warehouses, rail access, and billboard.
Property Size12,960 SF
Lot Size1.95 Acres
Price / SF$169.68
Days on Market198
Property Features for 1579 N National Ave
General Information
Standard status
Active
Size
12,960 SF
Lot size
1.95 Acres
Property subtype
Industrial, Land
Zoning
IH/GC
Building Details
Year Renovated
1945
Buildings
2
Stories
2
Tenancy
Single
Listing Agency:
The Rants Group
(360) 352-7822
Listed By:
Zeke Rehn · License #23295
Source:
Crexi
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 10 at 8:25AM
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 The Rants Group
Investment Insights
Based on property information with market context.
This 1.95-acre property includes two warehouses totaling 12,960 square feet and a grandfathered billboard generating $1,600 per month in rental revenue. The property is located off I-5 Exit 79 with visibility on National Avenue. The partially fenced site has rail access and is suitable for contractors or any business requiring warehouse space and yard space in one location. The zoning is Heavy Industrial (IH) / General Commercial (CG). The property is currently occupied by Heritage Restoration.
Key Highlights
- Two warehouses totaling 12,960 sq ft on 1.95 acres.
- Billboard generating $1,600 per month in rental revenue.
- Excellent visibility and location off I‑5 Exit 79 on National Avenue.
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
$125,397
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
5.70%
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%
$2,507,940
$2.5M
Cap Rate 7%
$1,791,386
$1.8M
Cap Rate 9%
$1,393,300
$1.4M
Market Conditions
NOI Build-Up for 12,960 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
$158.6K $12.24/SF
− Vacancy
−$11.1K −$0.86/SF
EGI
$147.5K $11.38/SF
− OpEx
−$22.1K −$1.71/SF
NOI
$125.4K $9.68/SF
Area
Lewis County, WA
Vacancy
7.00%
Lease Rate
$12.24 /SF/Yr
Expense Ratio
15.00%
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%
$2,507,940
Cap Rate 7%
$1,791,386
Cap Rate 9%
$1,393,300
Alternative Uses
Best Use
Warehouse
$1.79M
$1.57M – $2.09M
NOI $125,397 @ 7.0% cap · market cap 5.70%
Second Best
Industrial
$1.48M
$1.29M – $1.72M
NOI $103,268 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$3.95M
$3.46M – $4.61M
NOI $276,701 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Well-served
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.
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Frequently Asked Questions
What type of property is this?
Warehouse - 1.95-acre property with warehouses, rail access, and billboard.
Where is this warehouse located?
The property is located at 1579 N National Ave Chehalis, WA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Two warehouses totaling 12,960 sq ft on 1.95 acres.; Billboard generating $1,600 per month in rental revenue.; Excellent visibility and location off I‑5 Exit 79 on National Avenue.
