Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    381 E Main St Monroe, WA 98272

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,100,000

    4992 sq ft commercial building in downtown Monroe.

    Lot size:
    0.18 Acres

    Property Features for 381 E Main St

    General Information

    Standard status
    Active
    Lot size
    0.18 Acres

    Building Details

    Year built
    2000

    We can help!

    Listing Contact
    Lance Otto
    Lance Otto
    Source: Corcoran

    Listing Agency: KW NORTH SOUND Listing Agent: Lance Otto

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Downtown Monroe Commercial Building Opportunity

    This 4,992 sq. ft. commercial building is located in downtown Monroe. The property features a large room upstairs and two separate downstairs spaces, along with two bathrooms on each floor. The vacant building is ready for redevelopment or renovation. Its location offers excellent Main Street visibility and steady traffic, making it suitable for retail, office, studio, or mixed-use possibilities. This property presents an opportunity to transform a building in a fast-growing area.
    Location Intelligence

    Current Use by Public Records

    El tijeras Hair ... Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Spa & Massage Center Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monroe
    County
    Snohomish
    State
    Washington
    Longitude
    -121.9676559
    Latitude
    47.8569681

    Nearby Similar for Sale

    • Contact for pricing
      19,196 SF

      Mixed-Use Building in Downtown Monroe

      Attractive mixed-use building with flexible lease terms in downtown Monroe.
      101 E Main St, Monroe, WA 98272
      View Details
    • Contact for pricing
      24,285 SF

      Retail Space in Monroe Center

      Retail space available in a high-traffic shopping center.
      Hwy 2 & Main St, Monroe, WA 98272
      View Details
    • $650,000
      4,685 SF

      Downtown Monroe Retail Opportunity

      Retail property in historic downtown Monroe, Washington.
      118 Lewis St, Monroe, WA 98272
      View Details
    • Contact for pricing

      Monroe Warehouse with Secured Yard

      11,300 SF warehouse with 18,000 SF secured yard.
      17120 Tye St Southeast, Monroe, WA 98272
      View Details
    • $1,100,000
      4,992 SF

      Downtown Monroe Commercial Building

      4,992 sq ft commercial building in downtown Monroe.
      381 Main St, Monroe, WA 98272
      View Details
    • $1,100,000
      4,992 SF

      Downtown Monroe Commercial Building

      4,992 SF commercial building in downtown Monroe for sale.
      381 E Main St, Monroe, WA 98272
      View Details
    • $3,600,000

      Monroe Warehouse with Secured Yard

      11,300 SF warehouse with 18,000 SF secured yard.
      17120 Tye St SE, Monroe, WA 98272
      View Details
    • Contact for pricing

      Downtown Monroe Commercial Property

      Prime commercial property in downtown Monroe with flexible configurations.
      123 N Lewis St, Monroe, WA 98272
      View Details
    • $1,910,000
      5,712 SF

      Monroe Multifamily Investment Opportunity

      Six-unit multifamily property in Monroe, WA, near Evergreen State Fair.
      356 Elizabeth St, Monroe, WA 98272
      View Details
    • $5,200,000

      Renovated Multifamily Community in Monroe

      18-unit multifamily property with renovated units and diverse floorplans.
      520 Kelsey St, Monroe, WA 98272
      View Details
    • $8,100,000
      26,400 SF

      29-Unit Multifamily Community in Monroe

      Well-maintained 29-unit apartment community with modern upgrades and strong performance.
      700 W Maple St, Monroe, WA 98272
      View Details
    • $6,210,000
      20,320 SF

      Renovated Multifamily Asset in Monroe

      High-quality, fully renovated multifamily property with immediate cash flow.
      524 Terrace St, Monroe, WA 98272
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4992 sq ft commercial building in downtown Monroe.
    Where is this commercial land located?
    The property is located at 381 E Main St Monroe, WA.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Prime downtown Monroe location with excellent Main Street visibility and steady traffic.; - Large 4,992 sq. ft. commercial building suitable for retail, office, studio, or mixed-use.; - Vacant and ready for redevelopment or renovation.
    (425) 330-1947
    Request Owner's contact information
    381 E Main St Monroe, WA 98272
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    381 E Main St
    Monroe, WA 98272
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    381 E Main St Monroe, WA 98272
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lance Otto
    Lance Otto
    (425) 330-1947 (360) 653-1884
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!