5708 Ocean Beach HwyLongview, WA 98632

Property Details for 5708 Ocean Beach Hwy

Year built

1981

Lot size

3.80 AC

Property size (Sq ft)

4,230 SF

Property type

Retail space

APN

10607

APU

10607

Description

This exceptional commercial investment opportunity in West Longview boasts two buildings on a 3.8-acre lot with 250 feet of high-traffic Ocean Beach Highway frontage. The property includes a 3,360 square foot commercial building currently leased to an antique store and a 2,940 square foot commercial/residential building with a shop, also occupied by tenants on a mix of long-term and month-to-month leases. The expansive lot offers ample space for commercial, RV, and boat parking, with 25 new parking spaces available for lease at $75 per month, providing additional income potential. The property's prime location and substantial road frontage make it ideal for a variety of commercial uses, presenting significant opportunities for future development. Current tenants provide a stable income stream, making this a compelling investment for those seeking a strong return. The property's versatility allows for continued operation under the current lease agreements or redevelopment to suit a buyer's vision. This is a rare chance to acquire a well-situated, income-generating property with significant upside potential in a thriving area. The existing infrastructure and ample parking provide immediate value, while the expansive lot allows for future expansion or redevelopment.

• CAP approach

  CAP return

  Valuation

  6%

  $1,707,863

  6.5%

  $1,576,489

  7%

  $1,463,883

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,052,826

  Geo Method

  $2,052,826

• Alternative Use

  Use

  Valuation

  Residential

  $1,329,828

  Hospitality

  $1,218,115

  Educational

  $1,013,457

  Medical

  $1,048,312

  Retail

  $1,576,489

Location Insight

City

Longview

County

Cowlitz

State

Washington

Latitude

46.1734

Longitude

-123.017

CBSA code

31020

CBSA name

LONGVIEW, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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