Building Details

Tenancy Multi

Listing Agency: BHGRE Commercial Premier NW Show Phone

Listed By: April Kelley Show Phone

Source: Moodyscre

Added: Aug 12 Changed: Oct 4 Last Checked: Oct 4 at 9:50AM

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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 BHGRE Commercial Premier NW

Investment Insights

Based on property information with market context.

This shopping center contains approximately 8,789 SF on 0.88 acres, combining occupied commercial space with approximately 4,225 SF formerly used by the owner. The available area can be occupied immediately or leased, with potential to divide it into approximately 2,000 SF. Existing businesses include 420 Grand Central and Mariachi Alegre, providing a combination of current tenant income and flexible occupancy options.

The property fronts Old Hwy 99 in the Grand Mound commercial corridor, where traffic is reported at approximately 24,000 VPD. Convenient access to I-5 supports regional connectivity. AC – Arterial Commercial zoning allows a wide variety of commercial uses, broadening the potential application of the center for an owner-user or an investor.

Key Highlights

• Approximately 8,789 SF shopping center on 0.88 acres
• Approximately 4,225 SF of former owner‑occupied space available
• Available area can be demised to approximately 2,000 SF

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$106,090

Cap Rate

3.66%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,121,800 $2.1M

Cap Rate 7%

$1,515,571 $1.5M

Cap Rate 9%

$1,178,778 $1.2M

Market Conditions

NOI Build-Up for 8,789 SF

Gross rent

$158.2K $18.00/SF

− Vacancy

−$6.6K −$0.76/SF

EGI

$151.6K $17.24/SF

− OpEx

−$45.5K −$5.17/SF

NOI

$106.1K $12.07/SF

Area

Thurston 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 Rate 5%

$2,121,800

Cap Rate 7%

$1,515,571

Cap Rate 9%

$1,178,778

Alternative Uses

Best Use

Retail

$1.52M

$1.33M – $1.77M (±1% cap)

NOI $106,090 @ 7.0% cap · market cap 3.66%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.57M

$2.25M – $3.00M (±1% cap)

NOI $180,139 @ 7.0% cap · market cap 6.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Shopping centers

Suggested Use

Top Pick Dental Office Hair Salon Parking Lot & Garage Auto Parts Store Veterinary Clinic Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24,000 VPD

Traffic count

Multi-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

155

Businesses Nearby

200k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 45% Shops & Services 29% Hotels & Casinos 21% Home Improvements & Furnishings 6%

Great Wolf Lodge Hotels & Casinos

37,557 visits/mo 0.5 miles

McDonald's Dining

30,943 visits/mo 0.3 miles

76 Shops & Services

19,677 visits/mo 0.4 miles

Chevron Shops & Services

18,186 visits/mo 0.4 miles

Starbucks Dining

15,227 visits/mo 0.3 miles

Demographics for 98579, WA

13,648

Population

5,005

Households

2.7

Avg Household Size

42

Median Age

19%

College-Educated

92%

High-School Grad

94.2 sq mi

ZIP Area

145

Density / Sq Mi

$94,284

Median Household Income

$47,834

Median Earnings

$1,222

Median Rent

$405,500

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this shopping centers located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Shopping center - Arterial Commercial zoning supports varied commercial uses with convenient interstate access.

Where is this shopping center located?

The property is located at 19939 Old Highway 99 SW Rochester, WA.

What is the asking price?

The asking price for this property is $2,900,000.

What are key features of this property?

This property features: Approximately 8,789 SF shopping center on 0.88 acres; Approximately 4,225 SF of former owner‑occupied space available; Available area can be demised to approximately 2,000 SF