Building Details

Building Size 3,482 SF

Year Built 1942

Listing Agency: Black Commercial, Inc.

Listed By: John Powers · License #100306 Show Phone

Source: Naiblack

Added: Sep 26 Last Checked: Sep 26 at 2:58PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Black Commercial, Inc.

Investment Insights

Based on property information with market context.

This storefront property was built in 1942 and occupies a lot of approximately 42,030 SF. It is located at 10013 W Charles Rd in Nine Mile Falls, Washington.

Key Highlights

• ± 42,030 SF lot
• Built in 1942
• Located at 10013 W Charles Rd, Nine Mile Falls, WA 99026

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

$38,268

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

6.43%

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%

$765,360 $765.4K

Cap Rate 7%

$546,686 $546.7K

Cap Rate 9%

$425,200 $425.2K

Market Conditions

NOI Build-Up for 3,482 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

$57.2K $16.44/SF

− Vacancy

−$2.6K −$0.74/SF

EGI

$54.7K $15.70/SF

− OpEx

−$16.4K −$4.71/SF

NOI

$38.3K $10.99/SF

Area

Spokane County, WA

Vacancy

4.50%

Lease Rate

$16.44 /SF/Yr

Expense Ratio

30.00%

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%

$765,360

Cap Rate 7%

$546,686

Cap Rate 9%

$425,200

Alternative Uses

Best Use

Retail

$546.7K

$478.4K – $637.8K (±1% cap)

NOI $38,268 @ 7.0% cap · market cap 6.43%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$804.6K

$704.0K – $938.7K (±1% cap)

NOI $56,321 @ 7.0% cap · market cap 9.47%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

The Tin Cup Restaurant

Suggested Use

Top Pick Cafe & Coffee Shop Pet Store & Service Restaurant Bed & Breakfast Real Estate Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 99026, WA

9,347

Population

3,623

Households

2.6

Avg Household Size

48

Median Age

28%

College-Educated

97%

High-School Grad

63.1 sq mi

ZIP Area

148

Density / Sq Mi

$98,125

Median Household Income

$48,693

Median Earnings

$1,110

Median Rent

$477,300

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - The building dates to 1942 and sits on a substantial parcel.

Where is this storefront property located?

The property is located at 10013 W Charles Rd Nine Mile Falls, WA.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: ± 42,030 SF lot; Built in 1942; Located at 10013 W Charles Rd, Nine Mile Falls, WA 99026