101 S 1st St
Shelton WA 98584
First & Railroad Building
101 S 1st St Shelton WA 98584
Listing #: 707581 | Status: Available | Last Modified: 4/15/2026 |
For Sale
- Phone:(206) 250-9655
- Email:reid@westlakeassociates.com
- Office Name:Westlake Associates, Inc.
- Office Phone:(206) 505-9400
- Office Website:
- Agent Phone:(206) 909-4347
- Agent Email:aj@westlakeassociates.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 4,350,000.0
- $/SF$ 202.8
- $/Unit$ 4,350,000.0
- Listing StatusAvailable
- Days on Market99
- Asset ClassRetail, Multi-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income640,581
- Vacancy Factor %4.00%
- Operating Expenses288,428
- Net Operating Income326,529
- CAP Rate 8.10 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- Crane Count
- Crane Tonnage0
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Second Road Front
- Grade Level Door Count
- Tennant Improvement Allowance
- CAP Rate 8.10 %
- Building StatusExisting
- # of Buildings1
- # of Floors3
- # of Units42
- # of Elevators1
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF21879
- Net Rentable Area21450
- Total Office SF
- Largest Contiguous SF
- Lot SF14447
- Acres0.33
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyMason
- Vicinity
- Location Description
- Second Address
- Cross StreetRailroad
- Market AreaMason County
- Tax ID #32019-00-60010|1
- Additional Parcels32019-50-15008, 32019-51-11001, 320195015008
- ZoningDT
- # Covered Spaces0
- # Uncovered Spaces8
- Total Parking Spots8
- Parking Ratio
- Year Built1908
- Year Renovated2000
- Completion Date
- Roof Type
- Construction TypeMasonry
Shelton 42-Unit Mixed-Use For Sale
101 First offers a unique mixed-use investment in the heart of downtown Shelton, widely regarded as the gateway to Hood Canal and the Olympic Peninsula. The property features 28 studio units, 10 one-bedroom apartments, and four retail spaces positioned along the city’s primary commercial corridor. A second 5,000 square-foot parcel at the corner of 1st and Cota Street serves as dedicated parking for the property and is connected to the main building via a permanent skybridge. Retrofitted in 2000 with building improvements, including electrical upgrades, the property continues to benefit from professional on-site management and efficient operations. Tenants enjoy off-street parking, controlled access, community garden space, and convenient access to schools, grocery stores, shopping, the l
