Renovated Mixed-Use
For Sale
$699,900
108 E Main Ave, Chewelah, WA 99109
Main-level offices accompany a furnished upstairs apartment in a fully renovated building.
Property Size2,400 SF
Price / SF$291.63
Days on Market45
Property Features for 108 E Main Ave
General Information
Standard status
Active
Size
2,400 SF
Space & Availability
Floor
Main Level
Furnished
Yes
Units
Multifamily Units
1
Office Units
2
Building Details
Year Built
9999
Buildings
1
Stories
2
Construction
brick
Listing Agency:
RE/MAX Select Associates, Inc.
(509) 690-1080
Listed By:
Sawyer Bardwell · License #23029623
Source:
Clemensregroup
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 25 at 4:21AM
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 RE/MAX Select Associates, Inc.
Investment Insights
Based on property information with market context.
This renovated mixed-use property contains two office suites on the main level, each measuring 600 sq ft, along with a 1,200 sq ft furnished apartment on the upper floor. The building totals 2,400 sq ft and combines commercial workspace with residential accommodation.
Recent improvements include new electrical panels, an insulated roof, and Mitsubishi mini-split systems serving every unit. The historic brick façade has been cleaned, repointed, and painted, preserving its established character while updating the building’s physical systems. The property is located in downtown Chewelah at 108 E Main Ave.
Recent improvements include new electrical panels, an insulated roof, and Mitsubishi mini-split systems serving every unit. The historic brick façade has been cleaned, repointed, and painted, preserving its established character while updating the building’s physical systems. The property is located in downtown Chewelah at 108 E Main Ave.
Key Highlights
- 2,400 sq ft mixed‑use building with office and residential components
- Two updated 600 sq ft office spaces on the main level
- 1,200 sq ft furnished apartment on the upper floor
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
$34,366
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
4.91%
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%
$687,320
$687.3K
Cap Rate 7%
$490,943
$490.9K
Cap Rate 9%
$381,844
$381.8K
Market Conditions
NOI Build-Up for 2,400 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
$53.3K $22.20/SF
− Vacancy
−$7.5K −$3.11/SF
EGI
$45.8K $19.09/SF
− OpEx
−$11.5K −$4.77/SF
NOI
$34.4K $14.32/SF
Area
Stevens County, WA
Vacancy
14.00%
Lease Rate
$22.20 /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%
$687,320
Cap Rate 7%
$490,943
Cap Rate 9%
$381,844
Alternative Uses
Best Use
Office B
$490.9K
$429.6K – $572.8K
NOI $34,366 @ 7.0% cap · market cap 4.91%
Second Best
Mixed Use
$409.5K
$358.3K – $477.8K
NOI $28,665 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$619.2K
$541.8K – $722.4K
NOI $43,344 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
1
Residential units
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
Business Placement
Demographics for 99109, WA
5,016
Population
2,610
Households
1.9
Avg Household Size
51
Median Age
22%
College-Educated
93%
High-School Grad
311.6 sq mi
ZIP Area
16
Density / Sq Mi
$61,354
Median Household Income
$38,715
Median Earnings
$890
Median Rent
$274,900
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Main-level offices accompany a furnished upstairs apartment in a fully renovated building.
Where is this mixed-use property located?
The property is located at 108 E Main Ave Chewelah, WA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,400 sq ft mixed‑use building with office and residential components; Two updated 600 sq ft office spaces on the main level; 1,200 sq ft furnished apartment on the upper floor
