$4,350,000
 $23,352 est/mo Sourced by Back At You

101 S 1st Street,Shelton, WA 98584

Shelton, WA 98584

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Description

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 local movie theater, and a range of downtown amenities. Importantly, Shelton offers a more affordable cost of living and rental environment relative to nearby Olympia and other South Sound markets, supporting consistent demand from residents seeking value without sacrificing access or convenience. With walkable access to the transit center and strong visibility along South 1st Street, the property is well positioned to capture stable, long-term tenant demand from both local renters and those priced out of higher cost surrounding areas.

Details

MLS #2580482
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1908
Days On Site19
Listing Provided ByWestlake Associates, Inc. | Reid Jones

Features

SQ Feet21,879
Story(s)3
Units42
ZoningCommercial,Multi-Family
Acreage0.33

Taxes

Property27140

Area Information

StateWA
CountyMason
CityShelton
Zip Code98584
Area175 Shelton
Community NameDowntown
Listing VS Median (in Downtown)
Price:
$4,350,000
low | high
Med:
$799,000
100% of Average
sqft:
21,879
low | high
Med:
1,037
100% of Average
$ / sqft:
$199
low | high
Med:
$770
100% of Average
On site:
19
low | high
Med:
41
46.341463414634% of Average
Sourced by Back At You

Market Activity 98584

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Learn More About This Property

StateWA
CountyMason
CityShelton
Zip Code98584
Area175 Shelton
Community NameDowntown
Listing VS Median (in Downtown)
Price:
$4,350,000
low | high
Med:
$799,000
100% of Average
sqft:
21,879
low | high
Med:
1,037
100% of Average
$ / sqft:
$199
low | high
Med:
$770
100% of Average
On site:
19
low | high
Med:
41
46.341463414634% of Average
Sourced by Back At You
Listing Updated: September 29, 2026 at 3:35:00 AM PDT