Mixed-Use Building with Retail
For Sale
$668,000
328 PIONEER St, Ridgefield, WA 98642
CommercialSale, Ridgefield, WA
Property Size2,080 SF
Lot Size0.06 Acres
Price / SF$321.15
Days on Market41
Property Features for 328 PIONEER St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU
Directions
Exit 14 from I5, W Pioneer St, Cnr Pioneer & N 4th Ave
Subdivision
_50
Standard status
Active
APN
070930000
Size
2,080 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
GREELEYS ADDN #1 LOT 5 BLK 10 FOR ASSESSOR USE ONLY THE E 28 FT O
Tax Annual Amount
3135
Legal Description
GREELEYS ADDN #1 LOT 5 BLK 10 FOR ASSESSOR USE ONLY THE E 28 FT O
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1940
Floors in Building
1
Building materials
Block, Brick, Stucco
Roof type
Metal
Listing Agency:
MORE Realty, Inc
(360) 727-1077
Listed By:
Kerry-Ann Rylander
(360) 473-9168
Added: Jul 17
Changed: Jul 20
Last Checked: Aug 26 at 3:06AM
MLS# 266472398
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1940, this 2,080-square-foot mixed-use building combines a retail area at the front with a separate one-bedroom apartment toward the rear. The residential component includes an attached two-car carport, while separate entrances from Pioneer Street and N 4th Avenue provide distinct access points. Construction includes block, brick, and stucco, with a metal roof.
Recent improvements include exterior paint, awnings, a new HVAC system, and electrical work. The property occupies 0.06 acres in Ridgefield and offers access to Interstate 5, Vancouver, and Portland. Its existing retail-and-residential configuration provides a defined commercial component alongside an on-site apartment.
Recent improvements include exterior paint, awnings, a new HVAC system, and electrical work. The property occupies 0.06 acres in Ridgefield and offers access to Interstate 5, Vancouver, and Portland. Its existing retail-and-residential configuration provides a defined commercial component alongside an on-site apartment.
Key Highlights
- 2,080‑square‑foot mixed‑use building on 0.06 acres
- Front retail area with separate rear 1‑bedroom apartment
- Attached 2‑car carport serving the residential component
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,831
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$556,620
$556.6K
Cap Rate 7%
$397,586
$397.6K
Cap Rate 9%
$309,233
$309.2K
Market Conditions
NOI Build-Up for 2,080 SF
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.
Gross rent
$47.9K $23.04/SF
− Vacancy
−$3.4K −$1.63/SF
EGI
$44.5K $21.41/SF
− OpEx
−$16.7K −$8.03/SF
NOI
$27.8K $13.38/SF
Area
Clark County, WA
Vacancy
7.08%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$556,620
Cap Rate 7%
$397,586
Cap Rate 9%
$309,233
Alternative Uses
Best Use
Mixed Use
$397.6K
$347.9K – $463.9K
NOI $27,831 @ 7.0% cap · market cap 4.17%
Second Best
Retail
$358.3K
$313.5K – $418.0K
NOI $25,081 @ 7.0% cap · market cap 3.75%
Theoretical Best
Specialty Retail
$506.7K
$443.4K – $591.2K
NOI $35,472 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Explore this area
Business Placement
Demographics for 98642, WA
23,685
Population
9,736
Households
2.4
Avg Household Size
41
Median Age
41%
College-Educated
96%
High-School Grad
56.8 sq mi
ZIP Area
417
Density / Sq Mi
$119,316
Median Household Income
$62,710
Median Earnings
$1,938
Median Rent
$622,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Retail space and a separate one-bedroom apartment occupy a 1940 building with dual street access and recent system upgrades.
Where is this mixed-use property located?
The property is located at 328 PIONEER St Ridgefield, WA.
What is the asking price?
The asking price for this property is $668,000.
What are key features of this property?
This property features: 2,080‑square‑foot mixed‑use building on 0.06 acres; Front retail area with separate rear 1‑bedroom apartment; Attached 2‑car carport serving the residential component
