Listing Agency: Colliers International WA, LLC Show Phone

Listed By: Ryan Olson · License #WA 19573 Show Phone

Source: Moodyscre

Added: Jul 29, 2025 Changed: Oct 2 Last Checked: Oct 5 at 8:52PM

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Investment Insights

Based on property information with market context.

This commercial property, located at 812 Westlake Avenue in Morton, WA, presents a unique opportunity for acquisition. Constructed in 1990, the 3,200 square foot building is situated on a 3,132 square foot lot and is zoned "Commercial," offering potential for various uses, including service providers, restaurants, and multifamily or mixed-use developments. The property can be redeveloped or the existing building can be repurposed. The City of Morton is actively seeking economic growth and revitalization. The property benefits from its proximity to Westlake Avenue, a key thoroughfare, and high visibility from US Hwy 12, enhancing its accessibility.

Key Highlights

• Commercial zoning allows for diverse uses like service, restaurant, or multifamily/mixed‑use.
• Redevelopment or repurposing potential of the existing 3,200 SF building.
• High visibility from US Hwy 12.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,487

Cap Rate

6.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$809,740 $809.7K

Cap Rate 7%

$578,386 $578.4K

Cap Rate 9%

$449,856 $449.9K

Market Conditions

NOI Build-Up for 3,132 SF

Gross rent

$59.4K $18.96/SF

− Vacancy

−$1.5K −$0.49/SF

EGI

$57.8K $18.47/SF

− OpEx

−$17.4K −$5.54/SF

NOI

$40.5K $12.93/SF

Area

Lewis County, WA

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$809,740

Cap Rate 7%

$578,386

Cap Rate 9%

$449,856

Alternative Uses

Best Use

Retail

$578.4K

$506.1K – $674.8K (±1% cap)

NOI $40,487 @ 7.0% cap · market cap 6.23%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$955.3K

$835.9K – $1.11M (±1% cap)

NOI $66,869 @ 7.0% cap · market cap 10.29%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Brown Mortuary Service Social Service Agency

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Building Supply Bakery (Bike/Boat/Book/etc) Store Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

213

Businesses Nearby

16k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Chevron Shops & Services

14,139 visits/mo 0.4 miles

KeyBank Shops & Services

1,502 visits/mo 0.5 miles

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail properties & spaces located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail property - 3,200 SF commercial building in Morton, Washington.

Where is this retail property located?

The property is located at 812 Westlake Ave Morton, WA.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Commercial zoning allows for diverse uses like service, restaurant, or multifamily/mixed‑use.; Redevelopment or repurposing potential of the existing 3,200 SF building.; High visibility from US Hwy 12.