Retail Building with Monument
New
For Sale
$625,000
209 Yelm Ave W, Yelm, WA 98597
A dance studio currently occupies the building, with owner occupancy available in July 2027.
Property Size3,000 SF
Price / SF$208.33
Days on Market1
Property Features for 209 Yelm Ave W
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Retail
Amenities
monument signage
Building Details
Building Size
3,000 SF
Year Built
1974
Buildings
1
Tenancy
Single
Listing Agency:
Lee & Associates Commercial Real Estate Services
Listed By:
Rachel Corp · License #WA 41623
(253) 686-7474
Source:
Lee-associates
Added: Oct 16
Last Checked: Oct 16 at 2:25PM
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 Lee & Associates Commercial Real Estate Services
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,000-square-foot retail building was constructed in 1974 and is currently occupied by a dance studio. Owner occupancy is available in July 2027.
The property shares a common parking area with adjacent retail buildings and has monument signage on Yelm Ave W.
The property shares a common parking area with adjacent retail buildings and has monument signage on Yelm Ave W.
Key Highlights
- 3,000‑square‑foot retail building, built in 1974
- Currently leased to a dance studio
- Owner occupancy available in July 2027
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,212
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,240
$724.2K
Cap Rate 7%
$517,314
$517.3K
Cap Rate 9%
$402,356
$402.4K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$54.0K $18.00/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$51.7K $17.24/SF
− OpEx
−$15.5K −$5.17/SF
NOI
$36.2K $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%
$724,240
Cap Rate 7%
$517,314
Cap Rate 9%
$402,356
Alternative Uses
Best Use
Retail
$517.3K
$452.7K – $603.5K
NOI $36,212 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$878.4K
$768.6K – $1.02M
NOI $61,488 @ 7.0% cap · market cap 9.84%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 98597, WA
27,233
Population
10,108
Households
2.7
Avg Household Size
35
Median Age
23%
College-Educated
91%
High-School Grad
111.0 sq mi
ZIP Area
245
Density / Sq Mi
$92,120
Median Household Income
$50,829
Median Earnings
$1,441
Median Rent
$423,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - A dance studio currently occupies the building, with owner occupancy available in July 2027.
Where is this retail space located?
The property is located at 209 Yelm Ave W Yelm, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,000‑square‑foot retail building, built in 1974; Currently leased to a dance studio; Owner occupancy available in July 2027
