Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    20639 Old Highway 99 SW Centralia, WA 98531

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $995,000

    Three-building commercial property with existing leases and high visibility.

    Property Features for 20639 Old Highway 99 SW

    General Information

    Standard status
    Active

    Building Details

    Year built
    1967

    We can help!

    Listing Contact
    Jason Meierhofer
    Source: Corcoran

    Listing Agency: NORTHFORK REALTY Listing Agent: Jason Meierhofer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Property with Income Potential

    This commercial property features three buildings, each equipped with its own power supply and restroom facilities. Two of the buildings are currently leased, generating immediate income. A convenience store, established for a long time, serves as an anchor tenant, ensuring consistent customer traffic. Additionally, a designated space for a food truck contributes to lease revenue and attracts shoppers. The property offers high visibility and easy accessibility, making it suitable for various business operations, including retail, office, or service-based businesses. The store inventory and non-lease equipment are included in the sale. This property presents an investment opportunity with built-in income and versatile use potential.
    Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Centralia
    County
    Lewis
    State
    Washington
    Longitude
    -123.0119384
    Latitude
    46.7883322

    Nearby Similar for Sale

    • $899,000
      1,038 SF

      Dual Drive-Thru Restaurant Opportunity

      Existing dual drive-thru restaurant off I-5's main Centralia exit.
      812 Harrison Ave, Centralia, WA 98531
      View Details
    • $360,000
      5,056 SF

      Versatile Commercial Space For Sale

      5,056 sq ft commercial space suitable for retail/office.
      700 S Tower Ave, Centralia, WA 98531
      View Details
    • $899,000
      1,038 SF

      Restaurant with Dual Drive-Thru

      Restaurant with dual drive-thru, equipment, and excellent visibility for sale.
      812 Harrison Ave, Centralia, WA 98531
      View Details
    • $389,000

      Commercial Buildings on Corner Lot

      Two commercial buildings on a fenced corner lot for sale.
      721 B St, Centralia, WA 98531
      View Details
    • Contact for pricing

      Centralia Commercial Property on Main

      Established business and property on high-traffic Main Street in Centralia.
      816 W Main St, Centralia, WA 98531
      View Details
    • $430,000

      Centralia Commercial Property on Main

      Established business and property on high-traffic Main Street.
      816 W Main St, Centralia, WA 98531
      View Details
    • Contact for pricing
      107,125 SF

      Centralia Industrial Warehouse with Office

      Industrial warehouse with office space and easy I-5 access.
      3705 Northpark Dr, Centralia, WA 98531
      View Details
    • Contact for pricing
      4,174 SF

      Commercial Property with Income Potential

      Three buildings, two leased, plus food truck space for sale.
      20639 Old Highway 99 SW, Centralia, WA 98531
      View Details
    • Contact for pricing

      Historic Commercial Building on Tower Avenue

      Versatile commercial space in Centralia's vibrant downtown area.
      108 N Tower Ave, Centralia, WA 98531
      View Details
    • Contact for pricing

      Commercial Property on Harrison Avenue

      Visible commercial property with accessibility on a main corridor.
      1206 Harrison Ave, Centralia, WA 98531
      View Details
    • $1,950,000

      Modern Commercial Building with Expansion

      Built in 2019, ideal for business or investment.
      1418 Mahoney Dr, Centralia, WA 98531
      View Details
    • Contact for pricing

      Versatile Commercial Building with Warehouse

      Commercial building with office, retail, and warehouse space.
      1016 Mellen St, Centralia, WA 98531
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Three-building commercial property with existing leases and high visibility.
    Where is this grocery and convenience store located?
    The property is located at 20639 Old Highway 99 SW Centralia, WA.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: - Immediate income from 2 leased buildings and a food truck space.; - High visibility and easy accessibility for customers.; - Versatile use potential for retail, office, or service-based businesses.
    Request Owner's contact information
    20639 Old Highway 99 SW Centralia, WA 98531
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20639 Old Highway 99 SW
    Centralia, WA 98531
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    20639 Old Highway 99 SW Centralia, WA 98531
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jason Meierhofer
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!