216 Marcy AveMontesano, WA 98563

For Sale
$475,000

High-yield mixed-use property, great location.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 3,576 square foot mixed-use property located at 216 W Marcy Ave, Montesano, WA 98563. Built in 1926, this single-story building sits on a 9,583 square foot lot and boasts 17 units, including two commercial retail/office spaces and fifteen storage/garage units, each approximately 9' x 18' and currently renting for $120 per month. The property offers ample off-street parking with eight spaces and is conveniently located adjacent to Fleet Park. The asking price is $475,000, representing a price per square foot of $132.83 and a price per unit of $27,941.18. The property generates a Net Operating Income (NOI) of $22,284, resulting in a 4.69% capitalization rate. The asphalted area covers 4,665 square feet. Significant potential exists to increase rental income, thereby enhancing the return on investment. Please note that tenants should not be disturbed without an accepted offer. The property's APN is 071600401700.

Highlights

  • Exceptional 3,576 SF mixed-use investment opportunity in Montesano, WA.
  • 17-unit property (2 retail/office, 15 storage/garage units) on a 9,583 SF lot.
  • Asking price: $475,000 ($132.83/SF, $27,941.18/unit).
  • Generates $22,284 NOI, 4.69% cap rate.
  • Features 8 off-street parking spaces and adjacency to Fleet Park.

Property Details for 216 Marcy Ave

Property type
Other mixed-use properties, Self storage facilities
Square Feet
3,576 SF
Year Built
1926
Buildings
1
Stories
1
Units
17

Location Insight

City
Montesano
County
Grays Harbor
State
Washington
Latitude
46.9802623
Longitude
-123.6027834
216 Marcy Ave, Montesano, Washington

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216 Marcy Ave
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