Morton Commercial Building For
For Sale
Contact for pricing
812 Westlake Ave, Morton, WA
3,200 SF commercial building in Morton, Washington.
Property Size3,132 SF
Lot Size0.52 Acres
Price / SF$207.54
Days on Market390
Property Features for 812 Westlake Ave
General Information
Standard status
Active
Size
3,132 SF
Lot size
0.52 Acres
Property subtype
RETAIL
Listing Agency:
Colliers International WA, LLC
(425) 586-5646
Listed By:
Ryan Olson · License #WA 19573
(425) 586-5646
Source:
Moodyscre
Added: Jul 29, 2025
Changed: Aug 8
Last Checked: Aug 21 at 5:48AM
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 Colliers International WA, LLC
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 = 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
$40,487
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
6.23%
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%
$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
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
$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 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%
$809,740
Cap Rate 7%
$578,386
Cap Rate 9%
$449,856
Alternative Uses
Best Use
Retail
$578.4K
$506.1K – $674.8K
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
NOI $66,869 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.
