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    24380 Us-101 Hoodsport, WA 98548

    • Retail properties
    • 1,090 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 24380 Us-101

    Year built
    1967
    Property size
    1,090 SF
    Property type
    Retail properties
    Property subtype
    Retail space

    Description

    This exceptional storefront property, located at 24380 US-101 in Hoodsport, Washington, presents a unique investment opportunity. The 1,090 square foot building, constructed in 1967, sits on a 3,485 square foot lot and is currently vacant, offering immediate occupancy. Its prime location on Highway 101 ensures high visibility and significant foot traffic, making it ideal for a variety of retail businesses. The asking price is $300,000, translating to $275.23 per square foot. The building features an open floor plan bathed in natural light, allowing for flexible space configuration to suit individual business needs. A significant advantage is the inclusion of a fully equipped studio apartment located downstairs, offering versatile use as owner's quarters, additional rental income, or staff accommodation. The property boasts captivating views of Hood Canal and convenient proximity to public beach access, enhancing its appeal and potential for attracting customers. This combination of prime location, versatile space, and attractive features makes this a compelling investment opportunity in the vibrant Hoodsport market. The property's zip code is 98548, and it is situated in Mason County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hoodsport
    County
    Mason
    State
    Washington
    Longitude
    -123.14
    Latitude
    47.4076

    Comparable in this City

    • Value Estimation by Request
      854 SF

      39 Lk Cushman Rd

      RETAIL STORES (PERSONAL SERVICES) • 854 SF
      39 Lk Cushman Rd, Hoodsport, WA 98548-9576
      View Details
    • Value Estimation
      $580,000
      2,240 SF

      24230 Us Hwy 101

      NURSERY, GREENHOUSE, FLORIST • 2,240 SF
      24230 Us Hwy 101, Hoodsport, WA 98548-9456
      View Details
    • Value Estimation
      $655,000
      1,200 SF

      24080 Us Hwy 101

      NURSERY, GREENHOUSE, FLORIST • 1,200 SF
      24080 Us Hwy 101, Hoodsport, WA 98548-2201
      View Details
    • Value Estimation by Request
      992 SF

      81 Lk Cushman Rd

      NURSERY, GREENHOUSE, FLORIST • 992 SF
      81 Lk Cushman Rd, Hoodsport, WA 98548-9576
      View Details
    • Value Estimation by Request
      984 SF

      24252 Us Hwy 101

      NURSERY, GREENHOUSE, FLORIST • 984 SF
      24252 Us Hwy 101, Hoodsport, WA 98548-9456
      View Details
    • Value Estimation by Request
      1,680 SF

      50 Lk Cushman Rd

      NURSERY, GREENHOUSE, FLORIST • 1,680 SF
      50 Lk Cushman Rd, Hoodsport, WA 98548-4529
      View Details

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    24380 Us-101
    Hoodsport, WA 98548
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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