Historic Brick Storefront with
For Sale
$980,000
302 N Tower Ave, Centralia, WA 98531
Brick commercial building combines showroom space with an updated second-level office and en suite bath.
Property Size3,000 SF
Price / SF$326.67
Days on Market54
Property Features for 302 N Tower Ave
General Information
Standard status
Active
Size
3,000 SF
Additional Details
Corner Location
Yes
Building Details
Year Built
1943
Buildings
1
Construction
brick
Listing Agency:
COMPASS
Listed By:
Chris Murphy · License #111144
(253) 752-7777
Source:
Nfrrealty
Added: Aug 22
Changed: Oct 5
Last Checked: Oct 7 at 5:11PM
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 COMPASS
Investment Insights
Based on property information with market context.
This 4,500-square-foot storefront property occupies the corner of N Tower Avenue and E Magnolia Street in downtown Centralia. The brick building includes approximately 3,000 feet of open showroom floor, along with an updated second-level office and en suite bath. A slab-on-grade foundation and remaining bank-vault elements reflect the structure’s former civic and banking uses.
The property’s existing drop ceiling and metal-clad window coverings can be removed to create taller ceilings and increase natural light, subject to the owner’s plans and approvals. Its corner setting, open showroom area, and dedicated upper-level office provide a flexible commercial layout within a historic downtown building.
The property’s existing drop ceiling and metal-clad window coverings can be removed to create taller ceilings and increase natural light, subject to the owner’s plans and approvals. Its corner setting, open showroom area, and dedicated upper-level office provide a flexible commercial layout within a historic downtown building.
Key Highlights
- 4,500‑square‑foot storefront property
- Approximately 3,000 feet of open showroom floor
- Updated second‑level office with en suite bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,227
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$964,540
$964.5K
Cap Rate 7%
$688,957
$689.0K
Cap Rate 9%
$535,856
$535.9K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$82.4K $27.48/SF
− Vacancy
−$18.1K −$6.05/SF
EGI
$64.3K $21.43/SF
− OpEx
−$16.1K −$5.36/SF
NOI
$48.2K $16.08/SF
Area
Lewis County, WA
Vacancy
22.00%
Lease Rate
$27.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$964,540
Cap Rate 7%
$688,957
Cap Rate 9%
$535,856
Alternative Uses
Best Use
Office B
$689.0K
$602.8K – $803.8K
NOI $48,227 @ 7.0% cap · market cap 4.92%
Second Best
Retail
$554.0K
$484.8K – $646.4K
NOI $38,781 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$915.0K
$800.6K – $1.07M
NOI $64,051 @ 7.0% cap · market cap 6.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 98531, WA
26,669
Population
11,070
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
88%
High-School Grad
129.2 sq mi
ZIP Area
206
Density / Sq Mi
$61,963
Median Household Income
$37,330
Median Earnings
$1,068
Median Rent
$285,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Fern Ridge Floral & Design — 107 W Main St, Centralia, WA 98531
Frequently Asked Questions
What type of property is this?
Storefront property - Brick commercial building combines showroom space with an updated second-level office and en suite bath.
Where is this storefront property located?
The property is located at 302 N Tower Ave Centralia, WA.
What is the asking price?
The asking price for this property is $980,000.
What are key features of this property?
This property features: 4,500‑square‑foot storefront property; Approximately 3,000 feet of open showroom floor; Updated second‑level office with en suite bath
