Shopping Center with Available
For Sale
Contact for pricing
19939 Old Highway 99 SW, Rochester, WA 98579
Arterial Commercial zoning supports varied commercial uses with convenient interstate access.
Property Size8,789 SF
Lot Size0.88 Acres
Price / SF$329.96
Days on Market9
Property Features for 19939 Old Highway 99 SW
General Information
Standard status
Active
Size
8,789 SF
Lot size
0.88 Acres
Property subtype
RETAIL
Zoning
AC
Site & Location
Traffic Count
24,000 vehicles/day
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
BHGRE Commercial Premier NW
(360) 508-2502
Listed By:
April Kelley
(360) 508-2502
Source:
Moodyscre
Added: Aug 12
Changed: Aug 17
Last Checked: Aug 20 at 1:54PM
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.
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 = 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
$106,090
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
3.66%
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%
$2,121,800
$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
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
$158.2K $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 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%
$2,121,800
Cap Rate 7%
$1,515,571
Cap Rate 9%
$1,178,778
Alternative Uses
Best Use
Retail
$1.52M
$1.33M – $1.77M
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
NOI $180,139 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Similar Off Market Nearby
- Trailer Town — 5732 Ivan Way SW, Rochester, WA 98579
- Grand Mound Center — 19949 Old Hwy 99 SW, Rochester, WA 98579
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
