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    Commercial Building Near Spencer Lake Title is generated by Realmo AI

    2810 E Spencer Lake Road, Shelton, WA 98584

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    For Sale
    $769,950

    4,212 SF commercial building on one acre near Spencer Lake.

    Property size:
    4,212 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $182/SF
    Added:
    Mar 14, 2026
    Days on Market:
    60
    Last Refresh:
    Mar 16 at 11:02 am

    Property Features for 2810 E Spencer Lake Road

    General Information

    Standard status
    Active
    Size
    4,212 SF
    Lot size
    1.00 Acre

    Building Details

    Year Built
    1993

    We can help!

    Listing Contact
    MATT CLARK

    Listing agent MATT CLARK

    Listing office M4 REAL ESTATE GROUP

    Listing date Mar 14, 2026

    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 M4 REAL ESTATE GROUP

    HighLights

    • Established business location (Cara’s Corner Country Store) with over $533K in recent annual sales, demonstrating strong local demand.
    • High‑visibility location on E Pickering Rd near Hwy 3, capturing steady local and seasonal traffic from Spencer Lake and surrounding areas.
    • 4,212 sq ft commercial building on a full acre with ample parking, offering flexibility for future expansion.
    • Verified commercial septic capacity and approved city water connection, supporting higher‑volume food service or other commercial uses.
    • Includes commercial kitchen facilities and flexible interior space suitable for continued retail or repositioning.
    • Historical usage as restaurant/bar, commercial bakery, and laundromat, indicating suitability for diverse commercial operations.

    Overview

    This 4,212 sq ft commercial building, currently operating as Cara’s Corner Country Store, is situated on a one-acre lot with ample parking and visibility along E Pickering Rd, near Hwy 3. The location benefits from steady local traffic and seasonal recreation flow from Spencer Lake, Harstine Island, and surrounding communities. The business has generated over $533K in recent annual sales. Historically, the property has functioned as a restaurant/bar, commercial bakery, and laundromat, retaining infrastructure suitable for diverse commercial operations. The building features commercial kitchen facilities and flexible interior space suitable for continued retail use or repositioning. Commercial septic capacity has been verified, and city water connection has been approved and is available. The one-acre site and large parking area offer flexibility for future expansion. Located along a well-traveled corridor near Spencer Lake and just minutes from downtown Shelton, the property benefits from strong visibility and steady local traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Suggested Use

    Restaurant Auto Repair Shop Auto Parts Store Department Store Kitchen & Bath Showroom Food Market Storage Facility Grocery & Convenience Store Cafe & Coffee Shop Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelton
    County
    Mason
    State
    Washington
    Longitude
    -122.9661728
    Latitude
    47.2762324

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    FAQs

    What type of property is this?
    Grocery and convenience store - 4,212 SF commercial building on one acre near Spencer Lake.
    Where is this grocery and convenience store located?
    The property is located at 2810 E Spencer Lake Road Shelton, WA.
    What is the asking price?
    The asking price for this property is $769,950.
    What are key features of this property?
    This property features: Established business location (Cara’s Corner Country Store) with over $533K in recent annual sales, demonstrating strong local demand.; High‑visibility location on E Pickering Rd near Hwy 3, capturing steady local and seasonal traffic from Spencer Lake and surrounding areas.; **4,212 sq ft commercial building on a full acre with ample parking, offering flexibility for future expansion.**
    (360) 329-2911
    We can help!
    Listing Contact
    MATT CLARK
    Learn More
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    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.

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    2810 E Spencer Lake Road, Shelton, WA 98584
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