Operating Bar & Pub with Event
For Sale
$450,000
111 Shaffer, Springdale, WA 99173
Established neighborhood venue includes food-prep facilities, a walk-in cooler, stage, and two bathrooms.
Property Size1,218 SF
Price / SF$369.46
Days on Market30
Property Features for 111 Shaffer
General Information
Standard status
Active
Size
1,218 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$822
Amenities
Garage Spaces: 0
Building Details
Year Built
1910
Listing Agency:
Kelly Right Real Estate of Spokane
(509) 991-5636
Listed By:
Jennifer Shorts · License #26945
Source:
Clearwaterproperties
Added: Aug 1
Changed: Aug 30
Last Checked: Aug 30 at 8:13PM
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 Kelly Right Real Estate of Spokane
Investment Insights
Based on property information with market context.
The offering combines an operating bar business with its real estate at 111 Shaffer in Springdale, WA. The 1,218-square-foot building dates to 1910 and includes a kitchen area arranged for food preparation, two bathrooms, a 6' x 10' walk-in cooler, and a stage. Parking is available on the property, and the venue supports pool, darts, pull tabs, karaoke, sports viewing, and food service.
The property includes two lots, with a large attached lot configured for outdoor activities. Its walkable setting serves the immediate neighborhood. Ongoing programming has included pool and horseshoe tournaments, comedy shows, and live bands, providing established event-oriented uses for the venue.
The property includes two lots, with a large attached lot configured for outdoor activities. Its walkable setting serves the immediate neighborhood. Ongoing programming has included pool and horseshoe tournaments, comedy shows, and live bands, providing established event-oriented uses for the venue.
Key Highlights
- Operating bar business and real estate offered together
- 1,218‑square‑foot building constructed in 1910
- Two lots, including an attached lot for outdoor activities
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 - Established neighborhood venue includes food-prep facilities, a walk-in cooler, stage, and two bathrooms.
Where is this bar & pub located?
The property is located at 111 Shaffer 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: Operating bar business and real estate offered together; 1,218‑square‑foot building constructed in 1910; Two lots, including an attached lot for outdoor activities
