Tenino Commercial Stone
297 Sussex Avenue W Tenino, WA 98589
297 Sussex Avenue W, Tenino, WA, 98589
$495,000
For Sale
$495,000
Prime commercial location with high visibility and flexible configuration.
Property Size3,500 SF
Lot Size0.10 Acres
Price / SF$141.43
Days on Market181
Property Features for 297 Sussex Avenue W
General Information
- Standard status
- Active
- Size
- 3,500 SF
- Lot size
- 0.10 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1966
Listing agency
CASTLE REALTY INC
(360) 455-1100
Listed by
DAVE CHAMPAGNE
Source
Corcoran
Added: Jan 22 Updated: Jul 10 at 3:47PM Checked: Jul 22 at 10:34AM
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 CASTLE REALTY INC
Investment Insights
Based on property information with market context.
This commercial property is located in a prime location in downtown Tenino, offering high visibility on a business corner that benefits from weekend activity. The stone building features over 3500 square feet and is currently configured into 3 separate units, which can be combined into one. The property includes high 15-foot ceilings and hardwood floors, with ample windows on two sides providing natural light, suitable for retail purposes. The left side of the building features a commercial kitchen, offering potential for café options. A new HVAC system has been installed on the right side, valued at $23,000, and a new HVAC system will be installed on the left unit by closing. Designated parking spaces are available, along with street and public parking options. The property is within walking distance of Tenino Park and the quarry pool. The property is subject to existing leases.
Key Highlights
- Prime downtown Tenino commercial location with high visibility.
- Large 3500+ sq ft stone building configurable as 3 separate units or one large space.
- New HVAC systems (one new, one to be installed by closing).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.0k | $18.00 |
| − Vacancy | −$2.6k | −$0.76 |
| EGI | $60.4k | $17.24 |
| − OpEx | −$18.1k | −$5.17 |
| NOI | $42.2k | $12.07 |
3,500 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$603.5K
$528.1K – $704.1K
NOI $42,248 @ 7.0% cap · market cap 8.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$896.7K – $1.20M
NOI $71,736 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Stone City Farm
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Storefront property - Prime commercial location with high visibility and flexible configuration.
Where is this storefront property located?
The property is located at 297 Sussex Avenue W Tenino, WA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime downtown Tenino commercial location with high visibility.; Large 3500+ sq ft stone building configurable as 3 separate units or one large space.; New HVAC systems (one new, one to be installed by closing).
