233 Market Blvd Chehalis, WA 98532-3039
This exceptional 1.73-acre property located at 233 S Market Boulevard in Chehalis, Washington, presents a unique redevelopment opportunity. Priced at $2,750,000, the property boasts a rich history as the R.E. Bennett School, offering a compelling blend of character and potential. The existing structure includes a full gymnasium and the stunning Rhoades Auditorium, both ready for immediate use. Significant infrastructure improvements have already been completed, including a new paved parking lot and attractive landscaping, providing ample off-street parking. Engineering work for the planned redevelopment is nearing completion. The current conceptual plan envisions a mixed-use development incorporating apartments, commercial spaces, and storage facilities. However, the property's versatility allows for a wide range of alternative uses, making it an ideal investment for creative developers seeking a landmark project in a thriving community. The substantial size of the lot, combined with the existing buildings and infrastructure, offers significant flexibility and potential for substantial returns. This is a rare chance to acquire a piece of Chehalis history and shape its future. The property is offered as-is. Serious inquiries only.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2024Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.