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    Property profile & analytics

    500 Main St Centralia, WA 98531-4252

    • Retail properties & Spaces
    • 4,421 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    $650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-0566131
    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 properties & Spaces

    Property Details for 500 Main St

    Year built
    1940
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.31 lot acres
    Property size
    4,421 SF
    Property type
    Retail properties & Spaces
    APN
    295001000
    APU
    295001000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $955,000
      6.5%
      $880,000
      7%
      $815,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $893,000
      Market price range: $303k - $985k
      AI Estimate
      $525,000
      Market price range: $211k - $616k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $690,000
      Current use
      OFFICE BUILDING
      $910,000
      Change: +33% Conversion: Easy
      COMMERCIAL (GENERAL)
      $595,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Centralia
    County
    Lewis
    State
    Washington
    Longitude
    -122.959
    Latitude
    46.717
    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
    2024
    $4,983
    $212,800
    $549,000
    $761,800
    -
    $212,800
    $549,000
    $761,800

    Comparable in this City

    • Value Estimation
      $3,480,000
      28,660 SF

      515 Harrison Ave

      DEPARTMENT STORE • 28,660 SF
      515 Harrison Ave, Centralia, WA 98531-1300
      View Details
    • Value Estimation
      $675,000
      8,000 SF

      333 Fair St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 8,000 SF
      333 Fair St, Centralia, WA 98531-8906
      View Details
    • Value Estimation
      $1,050,000
      13,360 SF

      305 Tower Ave

      DEPARTMENT STORE • 13,360 SF
      305 Tower Ave, Centralia, WA 98531-4329
      View Details
    • Value Estimation
      $2,885,000
      15,731 SF

      1301 Lum Rd

      DEPARTMENT STORE • 15,731 SF
      1301 Lum Rd, Centralia, WA 98531-1817
      View Details
    • Value Estimation by Request
      1,339 SF

      609 Main St

      DEPARTMENT STORE • 1,339 SF
      609 Main St, Centralia, WA 98531-2844
      View Details
    • Value Estimation by Request
      2,720 SF

      1015 Caveness Dr

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 2,720 SF
      1015 Caveness Dr, Centralia, WA 98531-1701
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Professional Center on Main Corridor

      Well-maintained professional center with healthcare tenants and expansion potential.
      1611 Kresky Ave, Centralia, WA 98531
      View Details
    • Contact for pricing

      Updated Commercial Building on Main

      3800 sq.ft. commercial building on Main St. with high visibility.
      610 W Main St, Centralia, WA 98531
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    • $315,000
      17,000 SF

      Harrison Ave Retail Space

      Centralia, WA: 17,000 SF Vacant Retail
      646 Harrison Ave, Centralia, WA 98531
      View Details
    • Contact for pricing

      Centralia Mixed-Use Redevelopment Opportunity

      Historic Centralia building zoned for retail and housing redevelopment.
      827 N Tower Ave, Centralia, WA 98531
      View Details
    • Contact for pricing

      Versatile Commercial Building in Rochester

      7,600 SF commercial building with flexible zoning and high visibility.
      20411 Old Highway 99, Centralia, WA 98531
      View Details
    • Contact for pricing

      Historic Commercial Building on Tower Avenue

      Versatile commercial space in Centralia's vibrant downtown area.
      108 N Tower Ave, Centralia, WA 98531
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    Similar Nearby for Lease

    • $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
    • $11,520 /Mo
      12,000 SF

      Centralia Flex Space For Rent

      12,000 SF flex space with M-1 zoning available for rent.
      2920 Harrison Ave, Centralia, WA 98531
      View Details
    • Contact for pricing
      20,000 SF

      Versatile Commercial Space in Centralia

      18,500 SF property in Centralia's bustling center, zoned C-3.
      217 West Main St, Centralia, WA 98531
      View Details
    • $11,500 /Mo

      New Industrial Flex Space

      New development in fast-growing Lewis County submarket, ideal for various uses.
      2920 Harrison Ave, Centralia, WA 98531
      View Details
    • $1,547 /Mo
      18,560 SF

      Versatile Commercial Building For Lease

      Adaptable commercial space suitable for diverse business ventures.
      217 Main St, Centralia, WA 98531
      View Details
    • $4,000 /Mo
      1,000 SF

      Former Car Lot For Rent

      16,100 SF lot with 1,000 SF building available.
      1221 Mellen St, Centralia, WA 98531
      View Details
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    500 Main St
    Centralia, WA 98531-4252
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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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