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

    20940 Old Highway 99 SW Centralia, WA 98531

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $299,900

    1.38 acre commercial property with shop, home, and additional unit.

    Type:Commercial
    Property size:
    60,113 SF
    Added:
    Jun 18, 2025
    Days on Market:
    306
    Last Refresh:
    Apr 5 at 8:40 pm

    Property Features for 20940 Old Highway 99 SW

    General Information

    Standard status
    Active
    Size
    60,113 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1972

    We can help!

    Listing Contact
    QUINT NEWELL
    QUINT NEWELL

    Listing agent QUINT NEWELL License #113575

    Listing office GREENE COMMERCIAL

    Listing date Jun 18, 2025

    Source Corcoran

    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 GREENE COMMERCIAL

    Overview

    Versatile Commercial Property on Old Hwy

    This 1.38 acre commercial property is fully fenced and includes two parcels. Anchoring the site is a large 2-bay shop, suitable for storage, service operations, or trades. A 1,536 square foot 1972 manufactured home provides office space or on-site living quarters, while an additional 800 square foot, 1-bedroom unit adds flexibility for guest housing, rental income, or a private office. The property has high-traffic exposure and easy access to I-5, making it a location for a home-based business, contractor headquarters, or future development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Nail Salon Gym & Fitness Center Auto Parts Store Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Centralia
    County
    Lewis
    State
    Washington
    Longitude
    -123.011
    Latitude
    46.7842

    Nearby Similar for Sale

    • $350,000
      7,700 SF

      Centralia Mixed-Use Redevelopment Opportunity

      Historic Centralia building zoned for retail and housing redevelopment.
      827 N Tower, Centralia, WA 98531
      View Details
    • $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
    • $449,900
      1,800 SF

      Versatile Commercial Building with Warehouse

      Commercial building featuring office, retail, and warehouse space.
      1016 Mellen St, Centralia, WA 98531
      View Details
    • $389,000
      4,272 SF

      Commercial Buildings on Corner Lot

      Two commercial buildings on a fenced corner lot for sale.
      721 B St, Centralia, WA 98531
      View Details
    • $435,000
      1,800 SF

      Historic Commercial Building on Tower Avenue

      Versatile 1,800 sq ft commercial space in Centralia's heart.
      108 Tower, 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 Tower Ave, Centralia, WA 98531
      View Details
    • $550,000
      3,000 SF

      Professional Building Near Medical Facilities

      Well-maintained office building with two suites near I-5.
      1805 Cooks Hill Road, Centralia, WA 98531
      View Details
    • $550,000

      Centralia Commercial Property For Sale

      Commercial property with parking and potential for various uses.
      539 N Tower Avenue, Centralia, WA 98531
      View Details
    • $900,000
      42,253 SF

      Land Near Great Wolf Lodge

      42,253 sq ft site near Great Wolf Lodge.
      20341 Old Highway 99 , Centralia, WA
      View Details
    • $550,000

      Visible Commercial Property on Harrison

      Highly visible commercial property with excellent accessibility on a main corridor.
      1206 Harrison Ave, Centralia, WA 98531
      View Details
    • $904,305
      75,358 SF

      Centralia Land Adjacent to Business

      1.73 acres of land adjacent to Centralia Station Business Park.
      1119 South Yew Street, Centralia, WA 98531
      View Details
    • $950,000

      Commercial Property with Income Potential

      Three buildings, two leased, plus convenience store and food truck.
      20639 Old Hwy 99 SW, Centralia, WA 98531
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.38 acre commercial property with shop, home, and additional unit.
    Where is this commercial land located?
    The property is located at 20940 Old Highway 99 SW Centralia, WA.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: 1.38+/- acre commercial property with two parcels.; Large 2‑bay shop suitable for storage, service, or trades.; High‑traffic exposure and easy access to I‑5.
    (360) 688-8333
    We can help!
    Listing Contact
    QUINT NEWELL
    QUINT NEWELL
    Real Estate License ID: 113575
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!