601 W Railroad Avenue, Shelton, WA 98584
- $625,000
Listing courtesy of Windermere RE/Himlie. Selling Office: Voetberg Hansen Real Estate.
- Sold Price
- $625,000
- List Price
- $649,500
- Status
- SOLD
- MLS#
- 2316381
- Closing Date
- Mar 31, 2025
- Days on Market
- 68
- Annual Tax Ammount
- 8270
Property Description
This is a great investment opportunity in the heart of downtown Shelton, WA with a good history and with very little vacancy. Property has been well maintained and is turn key. Prime corner location with additional alley access. Zoned "Downtown" that may allow for additional expansion as onsite parking is not required under this zoning. All four suites are fully serviced and lease rates include all utilites being paid by the owner. Even being fully serviced, the Net Operating Income indicates a 6 to 7% Capitalization Rate at the asking price. The photos should speak for themselves but we are happy to arrainge "off hour" tours for you and your Broker. Easy walking to banks, post office, several good restaurants, Court House and City Hall.
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Additional Information
- Community
- Shelton
- Building Condition
- Good
- Style
- 73 - Office
- Year Built
- 1965
- # of Assigned Spaces
- 16
- Roof
- Composition
- Tax Year
- 2024
- Potential Terms
- Cash Out, Conventional
- Flooring
- Vinyl, Carpet
- Driving Directions
- Southwest corner of 6th and Railroad - Downtown Shelton
- Electric Expenses
- 5084
- Other Expenses
- 5768
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $43,322
- Gross Adjusted Income
- $72,912
- Gross Scheduled Income
- $72,912
- Water/Sewer/Garbage Expenses
- $4,856
- Cap Rate
- 7
- Total Expenses
- $29,590
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.