Flex Warehouse and Office
For Sale
Contact for pricing
1579 N National Ave, Chehalis, WA 98532
Two warehouses plus a recently updated office building offer combined warehouse, yard, and office/admin space.
Property Size14,264 SF
Lot Size2.20 Acres
Price / SF$168.19
Days on Market322
Property Features for 1579 N National Ave
General Information
Standard status
Active
Size
14,264 SF
Lot size
2.20 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Listing Agency:
The Rants Group
(360) 943-8060
Listed By:
Zeke Rehn · License #23295
(360) 915-5678
Source:
Moodyscre
Added: Oct 27, 2025
Changed: Sep 11
Last Checked: Sep 13 at 6:18AM
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.
The property includes two warehouse buildings totaling 12,960 sq ft and an adjacent recently updated office building with 1,304 sq ft. A grandfathered billboard is also on-site, currently generating $1,600 per month in rental revenue. The site is partially fenced and includes rail access, supporting a flexible setup for companies that want warehouse, yard, and office/admin space together.
The 2.2-acre site is conveniently located off I-5 exit 79 with excellent visibility on National Avenue.
Parcels include 005615002003, 005615001000, and 005615002004. Warehouses and the billboard are also available for purchase separately (005615002003 and 005615002004).
The 2.2-acre site is conveniently located off I-5 exit 79 with excellent visibility on National Avenue.
Parcels include 005615002003, 005615001000, and 005615002004. Warehouses and the billboard are also available for purchase separately (005615002003 and 005615002004).
Key Highlights
- Two warehouses totaling 12,960 sq ft plus an adjacent recently updated office building totaling 1,304 sq ft
- Grandfathered billboard currently generating $1,600 per month in rental revenue
- 2.2‑acre partially fenced site with rail access
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
$138,014
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
5.75%
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%
$2,760,280
$2.8M
Cap Rate 7%
$1,971,629
$2.0M
Cap Rate 9%
$1,533,489
$1.5M
Market Conditions
NOI Build-Up for 14,264 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
$174.6K $12.24/SF
− Vacancy
−$12.2K −$0.86/SF
EGI
$162.4K $11.38/SF
− OpEx
−$24.4K −$1.71/SF
NOI
$138.0K $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%
$2,760,280
Cap Rate 7%
$1,971,629
Cap Rate 9%
$1,533,489
Alternative Uses
Best Use
Office B
$3.28M
$2.87M – $3.82M
NOI $229,305 @ 7.0% cap · market cap 9.56%
Second Best
Warehouse
$1.97M
$1.73M – $2.30M
NOI $138,014 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$4.35M
$3.81M – $5.08M
NOI $304,542 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
442
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Crazy Cattle Coffee Co. — Chehalis, WA 98532
- Colony House — 49 NE Division St, Chehalis, WA 98532
Frequently Asked Questions
What type of property is this?
Flex space - Two warehouses plus a recently updated office building offer combined warehouse, yard, and office/admin space.
Where is this flex space located?
The property is located at 1579 N National Ave Chehalis, WA.
What is the asking price?
The asking price for this property is $2,399,000.
What are key features of this property?
This property features: Two warehouses totaling 12,960 sq ft plus an adjacent recently updated office building totaling 1,304 sq ft; Grandfathered billboard currently generating $1,600 per month in rental revenue; 2.2‑acre partially fenced site with rail access
