Brick Bar
For Sale
$450,000
111 W Shaffer Ave, Springdale, WA 99173
COMMERCIAL - Springdale, WA
Property Size1,218 SF
Lot Size0.27 Acres
Price / SF$369.46
Days on Market153
Property Features for 111 W Shaffer Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Real
Accessibility
Accessible Approach with Ramp
Subdivision
Springdale
Lot features
Level, Zero Lot Line, Fencing, Surveyed
View
Territorial
Elementary school
Springdale
Middle school
Springdale
High school
Springdale
Elementary school district
Springdale
Directions
Turn W on Hwy #231 - come into the town of Springdale and turn R onto Main St - go around the corner to the L and the establishment is on the L.
Standard status
Active
APN
0495000
Size
1,218 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
822
Building Details
Year built
1910
Floors in Building
1
Building materials
Brick, Masonite
Roof type
Metal
Listing Agency:
Kelly Right Real Estate of Spokane
(509) 489-7000
Listed By:
Jennifer Shorts · License #26945
(509) 489-7000
Added: Mar 6
Changed: Aug 4
Last Checked: Aug 6 at 6:06PM
MLS# 202613108
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Brick construction bar building with a metal roof on two lots. The property includes a kitchen area set up for food prep, two bathrooms, and a 6' x 10' walk-in cooler. The stage will stay with the property, supporting continued event-style entertainment.
Built in 1910, the building features an accessible approach with a ramp. An attached lot is set up for outdoor activities, and the property offers lots of parking. The business is fully operational, with continuing events described as pool tournaments, horseshoe tournaments, comedy shows, live bands, karaoke, and pull tabs.
The offering includes both the building and the land parcels, giving the operator a built-in entertainment venue setup alongside outdoor space and parking for neighborhood traffic.
Built in 1910, the building features an accessible approach with a ramp. An attached lot is set up for outdoor activities, and the property offers lots of parking. The business is fully operational, with continuing events described as pool tournaments, horseshoe tournaments, comedy shows, live bands, karaoke, and pull tabs.
The offering includes both the building and the land parcels, giving the operator a built-in entertainment venue setup alongside outdoor space and parking for neighborhood traffic.
Key Highlights
- Brick construction with metal roof
- 6' x 10' walk‑in cooler
- Two lots with 0.27‑acre lot size
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,782
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,640
$295.6K
Cap Rate 7%
$211,171
$211.2K
Cap Rate 9%
$164,244
$164.2K
Market Conditions
NOI Build-Up for 1,218 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.2K $17.40/SF
− Vacancy
−$1.5K −$1.22/SF
EGI
$19.7K $16.18/SF
− OpEx
−$4.9K −$4.05/SF
NOI
$14.8K $12.14/SF
Area
Stevens County, WA
Vacancy
7.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,640
Cap Rate 7%
$211,171
Cap Rate 9%
$164,244
Alternative Uses
Best Use
Specialty Retail
$211.2K
$184.8K – $246.4K
NOI $14,782 @ 7.0% cap · market cap 3.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.2K
$275.0K – $366.6K
NOI $21,997 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
50
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
3,677 visits/mo
0.4 miles
Demographics for 99173, WA
1,892
Population
747
Households
2.5
Avg Household Size
48
Median Age
25%
College-Educated
82%
High-School Grad
141.8 sq mi
ZIP Area
13
Density / Sq Mi
$53,227
Median Household Income
$25,036
Median Earnings
$850
Median Rent
$267,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Brothers Bar — 111 W Shaffer Ave, Springdale, WA 99173
- BnB by The Spring — 104 W Shaffer Ave, Springdale, WA 99173
Frequently Asked Questions
What type of property is this?
Bar & Pub - Brick bar building with metal roof, accessible ramp approach, and a kitchen area set up for food prep.
Where is this bar & pub located?
The property is located at 111 W Shaffer Ave Springdale, WA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Brick construction with metal roof; 6' x 10' walk‑in cooler; Two lots with 0.27‑acre lot size
