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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    402 E Summa St Centralia, WA 98531

    • Retail space
    • 5,039 SF
    • 0.44 lot acres
    For Sale
    View listing
    $499,999
    Last Sale
    Feb 07, 2020
    $316,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3191909
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Retail space

    Property Details for 402 E Summa St

    Year built
    1950
    Construction
    WOOD
    Lot size
    0.44 lot acres
    Property size
    5,039 SF
    Property type
    Retail space
    APN
    8992001000
    APU
    8992001000

    Description

    This exceptional Centralia commercial property presents a rare opportunity for acquisition. Located at 402 E Summa Street, this 0.5-acre lot boasts a prime corner location offering considerable road frontage (125 x 155 feet) and excellent visibility. The property features a well-maintained building encompassing approximately 1039 square feet of office space and approximately 4000 square feet of warehouse space, ideal for a variety of light industrial uses. The expansive, fenced, and paved yard provides ample space for parking company trucks, heavy equipment, or outdoor storage. The property is zoned C-1, allowing for diverse commercial applications. Buyers are encouraged to conduct their own due diligence to confirm suitability for their intended use. The flat, paved yard is a significant advantage, offering ease of access and maneuverability. The seller is open to considering lease options as an alternative to outright sale. This property's combination of size, location, and zoning makes it a highly attractive investment opportunity with significant potential. The substantial road frontage and visibility ensure high exposure for any business operating from this location. The existing building provides a solid foundation for immediate occupancy or future expansion.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $415,000
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $399,000
      Market price range: $345k - $1.12M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $680,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Centralia
    County
    Lewis
    State
    Washington
    Longitude
    -122.954
    Latitude
    46.7058
    CBSA code
    16500
    CBSA name
    CENTRALIA, WA MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,796
    $116,300
    $224,700
    $341,000
    -
    $116,300
    $224,700
    $341,000

    Comparable in this City

    • Value Estimation
      $385,000
      1,036 SF

      203 Reynolds Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,036 SF
      203 Reynolds Ave, Centralia, WA 98531-3313
      View Details
    • Value Estimation
      $330,000
      3,378 SF

      1030 Gold St

      RETAIL STORES (PERSONAL SERVICES) • 3,378 SF
      1030 Gold St, Centralia, WA 98531-3712
      View Details
    • Value Estimation
      $395,000
      2,040 SF

      200 King St

      RETAIL STORES (PERSONAL SERVICES) • 2,040 SF
      200 King St, Centralia, WA 98531-2706
      View Details
    • Value Estimation
      $280,000
      8,000 SF

      2530 Kresky Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,000 SF
      2530 Kresky Ave, Centralia, WA 98531
      View Details
    • Value Estimation
      $350,000
      9,608 SF

      1212 Lum Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,608 SF
      1212 Lum Rd, Centralia, WA 98531-1848
      View Details
    • Value Estimation
      $330,000
      4,020 SF

      408 Main St

      RETAIL STORES (PERSONAL SERVICES) • 4,020 SF
      408 Main St, Centralia, WA 98531-4250
      View Details

    Similar Nearby for Sale

    • $499,999

      Versatile Retail/Warehouse Property For Sale

      C-1 Zoned retail/warehouse with office and fenced yard.
      402 E Summa St, Centralia, WA 98531
      View Details
    • $430,000

      Centralia Commercial Property on Main

      Established business and property on high-traffic Main Street.
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    • $315,000
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      Retail property with drive-thru, easy access, and pylon sign.
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    • $360,000
      5,056 SF

      Versatile Commercial Space For Sale

      5,056 sq ft commercial space suitable for retail/office.
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    • $995,000
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      Commercial Property with Income Potential

      Three buildings, two leased, plus food truck space for sale.
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      Versatile Commercial Building in Rochester

      7,600 SF commercial building with flexible zoning and high visibility.
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    Similar Nearby for Lease

    • $36 SF/Yr
      2,500 SF

      Retail Space in Centralia, WA

      Retail space available for lease in Centralia, Washington.
      1101-1161 Harrison Ave, Centralia, WA 98531
      View Details
    • $14 SF/Yr
      1,120 SF

      Fairway Shopping Center Office Suite

      Professional office suite in a busy retail center.
      1616-1744 S Gold St, Centralia, WA 98531
      View Details
    • $12 SF/Yr
      5,860 SF

      Fairway Center: Retail Opportunity

      Established shopping center; 5,860 sq ft available.
      1710 Gold St, Centralia, WA 98531
      View Details
    • $15,000 /Mo
      12,000 SF

      New Industrial Flex Space Available

      New 12,000 SF flex space in Centralia, WA for lease.
      2920 Harrison Ave, Centralia, WA 98531
      View Details
    • Contact for pricing

      Retail Pads Near WinCo Foods

      Retail pads available for ground lease near WinCo Foods.
      1208 Alder St, Centralia, WA 98531
      View Details
    • Contact for pricing
      604 SF

      New Industrial Warehouse Space Available

      604,854 SF warehouse on 33 acres, available for lease.
      2717 Harrison Ave, Centralia, WA 98531
      View Details
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    Centralia, WA 98531
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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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