Restaurant Building with Full
For Sale
$299,000
108 W MAIN Ave, Chewelah, WA 99109
Commercial, CHEWELAH, WA
Property Size1,654 SF
Lot Size0.43 Acres
Price / SF$180.77
Days on Market49
Property Features for 108 W MAIN Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Rooms
Basement
Parking features
Off Street, On Street
Exterior features
Handicap Access, Road Frontage
Basement
Partially Finished, Dirt Floor
Accessibility
Accessible Approach with Ramp
Directions
HWY 395 turn at the light , West to Property on Main St
Subdivision
S3 - Chewelah
Standard status
Active
APN
0205800
Size
1,654 SF
Lot size
0.43 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
CHEWELAH CHAWELAH 1 W 60' LOTS 6-10 BLK 1 CHEWELAH CHAWELAH FIRST & CHEWELAH TAX NUMBERS TAX #61
Tax Annual Amount
1822
Legal Description
CHEWELAH CHAWELAH 1 W 60' LOTS 6-10 BLK 1 CHEWELAH CHAWELAH FIRST & CHEWELAH TAX NUMBERS TAX #61
Utilities
Heating system
Natural Gas, Forced Air, Electric (Heating)
Water source
Public
Building Details
Flooring type
Tile - Ceramic, Carpet
Listing Agency:
WESTERGARD REAL ESTATE
(509) 738-9378
Listed By:
ROBYN M WESTERGARD · License #17565
(509) 675-5540
Added: Jul 23
Changed: Sep 3
Last Checked: Sep 9 at 2:06AM
MLS# 46231
Copyright © 2026 Northeast Washington Association of Realtor MLS. 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.
Located at 108 W Main Ave in downtown Chewelah, this 1,654-square-foot restaurant property occupies a 0.43-acre lot. The building includes a full kitchen, two dining areas, and a basement, with ceramic tile and carpet flooring. It was previously used as a Mexican restaurant.
The property offers both off-street and on-street parking, road frontage, and an accessible approach with ramp. Public water service is in place, while heating includes natural gas, forced air, and electric systems. Its existing restaurant layout provides a defined starting point for a future food-service operation.
The property offers both off-street and on-street parking, road frontage, and an accessible approach with ramp. Public water service is in place, while heating includes natural gas, forced air, and electric systems. Its existing restaurant layout provides a defined starting point for a future food-service operation.
Key Highlights
- 1,654‑square‑foot restaurant property on a 0.43‑acre lot
- Full kitchen with two dining areas
- Previously used as a Mexican restaurant
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
$20,074
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
6.71%
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%
$401,480
$401.5K
Cap Rate 7%
$286,771
$286.8K
Cap Rate 9%
$223,044
$223.0K
Market Conditions
NOI Build-Up for 1,654 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
$28.8K $17.40/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$26.8K $16.18/SF
− OpEx
−$6.7K −$4.05/SF
NOI
$20.1K $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%
$401,480
Cap Rate 7%
$286,771
Cap Rate 9%
$223,044
Alternative Uses
Best Use
Specialty Retail
$286.8K
$250.9K – $334.6K
NOI $20,074 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.7K
$373.4K – $497.9K
NOI $29,871 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
34k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Shops & Services 33%
Dining 13%
Home Improvements & Furnishings 11%
Safeway
Groceries
14,695 visits/mo
0.2 miles
Dollar General
Shops & Services
4,744 visits/mo
0.4 miles
Dollar Tree
Shops & Services
4,374 visits/mo
0.2 miles
Setys Ace Hardware
Home Improvements & Furnishings
3,776 visits/mo
0.1 miles
SUBWAY
Dining
3,587 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant property with a full kitchen, two dining areas, an accessible ramp, and public water service.
Where is this conventional restaurant located?
The property is located at 108 W MAIN Ave Chewelah, WA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,654‑square‑foot restaurant property on a 0.43‑acre lot; Full kitchen with two dining areas; Previously used as a Mexican restaurant
