Mixed-Use Building with
New
For Sale
$989,000
135 E 1ST Ave, Colville, WA 99114
Multi Family, Contemporary, COLVILLE, WA
Property Size8,400 SF
Lot Size0.10 Acres
Price / SF$117.74
Days on Market2
Property Features for 135 E 1ST Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street, Covered, Parking Lot
Basement
Unfinished, Walk-Out Access
Lot features
Paved, Level
Directions
From Main St go east on 1st. Building on North side of 1st. Plenty of street parking.
Subdivision
S1 - Colville
Standard status
Active
APN
0006800
Size
8,400 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
COLVILLE ORIGINAL S 5' LOT 9 BLK 8; LOT 10 BLK 8 COLVILLE ORIGINAL
Legal Description
COLVILLE ORIGINAL S 5' LOT 9 BLK 8; LOT 10 BLK 8 COLVILLE ORIGINAL
Utilities
Heating system
Natural Gas, Heat Pump (Heating), Forced Air, Electric (Heating), Baseboard
Cooling system
Electric, Window Unit(s), Central Air
Building Details
Year built
1909
Floors in Building
4
Roof type
Flat
Architectural style
Contemporary
Listing Agency:
Ken Barcus Realty
(509) 685-1100
Listed By:
Alexandra Matthews · License #17462
(206) 229-2049
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 21 at 4:06PM
MLS# 46336
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.
Built in 1909, this mixed-use property contains 8,400 square feet on a 0.1-acre parcel. The building includes four apartments occupied by long-term tenants, three commercial units, and additional owner-operator space spanning the main floor and mezzanine. A basement, flat roof, and period storefront elements contribute to the building’s established commercial character.
Located at 135 E 1ST Ave in Colville, Washington, the property includes off-street parking, covered parking, and a parking lot. Building systems include natural gas, heat pump, forced-air, electric, and baseboard heating, along with electric, window-unit, and central air-conditioning options. The contemporary-style structure offers a combination of residential and commercial occupancy within a single downtown address.
Located at 135 E 1ST Ave in Colville, Washington, the property includes off-street parking, covered parking, and a parking lot. Building systems include natural gas, heat pump, forced-air, electric, and baseboard heating, along with electric, window-unit, and central air-conditioning options. The contemporary-style structure offers a combination of residential and commercial occupancy within a single downtown address.
Key Highlights
- 8,400‑square‑foot mixed‑use building on a 0.1‑acre parcel
- Four apartments with long‑term tenants
- Three commercial units plus owner‑operator space on the main floor and mezzanine
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
$87,159
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
8.81%
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%
$1,743,180
$1.7M
Cap Rate 7%
$1,245,129
$1.2M
Cap Rate 9%
$968,433
$968.4K
Market Conditions
NOI Build-Up for 8,400 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
$136.1K $16.20/SF
− Vacancy
−$11.6K −$1.38/SF
EGI
$124.5K $14.82/SF
− OpEx
−$37.4K −$4.45/SF
NOI
$87.2K $10.38/SF
Area
Stevens County, WA
Vacancy
8.50%
Lease Rate
$16.20 /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%
$1,743,180
Cap Rate 7%
$1,245,129
Cap Rate 9%
$968,433
Alternative Uses
Best Use
Mixed Use
$1.43M
$1.25M – $1.67M
NOI $100,328 @ 7.0% cap · market cap 10.14%
Second Best
Retail
$1.25M
$1.09M – $1.45M
NOI $87,159 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,704 @ 7.0% cap · market cap 15.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
801
Businesses Nearby
Explore this area
Business Placement
Demographics for 99114, WA
12,649
Population
6,154
Households
2.1
Avg Household Size
49
Median Age
23%
College-Educated
91%
High-School Grad
718.5 sq mi
ZIP Area
18
Density / Sq Mi
$61,891
Median Household Income
$45,164
Median Earnings
$916
Median Rent
$268,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic downtown building combines residential occupancy with multiple commercial units and dedicated owner-operator space.
Where is this mixed-use property located?
The property is located at 135 E 1ST Ave Colville, WA.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: 8,400‑square‑foot mixed‑use building on a 0.1‑acre parcel; Four apartments with long‑term tenants; Three commercial units plus owner‑operator space on the main floor and mezzanine
