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1241-1261 Harrison Ave 9,282 SF 100% Leased Retail Building Centralia, WA 98531 $2,200,000 ($237.02/SF) 6.59% Cap Rate
INVESTMENT HIGHLIGHTS
- Lots of Parking
- Fully Leased
- High Traffic
EXECUTIVE SUMMARY
Fully leased, multi-tenant retail building with tons of parking. Tenants include Domino's Pizza (25 year plus), La Perla Grocery, Beauty Nails, Farmers Insurance, and WA State DSHS. Pylon sign on Harrison Ave and easy access from Interstate 5.
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$193,154
|
$20.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$193,154
|
$20.81
|
| Taxes |
$6,800
|
$0.73
|
| Operating Expenses |
$41,352
|
$4.46
|
| Total Expenses |
$48,152
|
$5.19
|
| Net Operating Income |
$145,002
|
$15.62
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $193,154 |
| Annual Per SF | $20.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $193,154 |
| Annual Per SF | $20.81 |
| Taxes | |
|---|---|
| Annual | $6,800 |
| Annual Per SF | $0.73 |
| Operating Expenses | |
|---|---|
| Annual | $41,352 |
| Annual Per SF | $4.46 |
| Total Expenses | |
|---|---|
| Annual | $48,152 |
| Annual Per SF | $5.19 |
| Net Operating Income | |
|---|---|
| Annual | $145,002 |
| Annual Per SF | $15.62 |
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
9,282 SF
Building Class
C
Year Built
1986
Price
$2,200,000
Price Per SF
$237.02
Cap Rate
6.59%
NOI
$145,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
0.96 AC
Zoning
C1
Parking
43 Spaces (4.63 Spaces per 1,000 SF Leased)
Frontage
64’ on Harrison Ave
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Tenant Controlled HVAC
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 003475-006-012 | Total Assessment | $1,007,100 (2025) |
| Land Assessment | $417,500 (2025) | Annual Taxes | $6,800 ($0.73/SF) |
| Improvements Assessment | $589,600 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
003475-006-012
Land Assessment
$417,500 (2025)
Improvements Assessment
$589,600 (2025)
Total Assessment
$1,007,100 (2025)
Annual Taxes
$6,800 ($0.73/SF)
Tax Year
2026
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1241-1261 Harrison Ave
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