Longstanding Restaurant Business
For Sale
$625,000
1618 W 3rd Ave, Spokane, WA 99201
Established restaurant business offered for sale at a long-time location in Spokane.
Property Size1,900 SF
Days on Market149
Property Features for 1618 W 3rd Ave
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Retail
Site & Location
Neighborhood
Brownes Addition
Additional Details
Business Included
Yes
Building Details
Building Size
1,900 SF
Year Built
1929
Listing Agency:
Black Commercial, Inc.
Listed By:
John Powers · License #100306
(509) 622-3563
Source:
Naiblack
Added: Jun 2
Changed: Oct 26
Last Checked: Oct 26 at 2:27PM
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 Black Commercial, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering presents a long-time, successful restaurant business at its current location. The opportunity is structured as a for-sale transaction and is supported by the property’s public remarks emphasizing the business’s continued success at the site. For buyers looking for an operating restaurant rather than a start-from-scratch concept, this can provide an immediate foundation centered on an established foodservice operation.
The restaurant is located at 1618 W 3rd Ave in Spokane, Washington. While additional site specifics are not provided here, the key takeaway is that the business has remained in place and operating successfully over time at this address, which may be attractive to entrepreneurs and investor-operators seeking continuity.
Prospective buyers should view this as a hands-on restaurant opportunity where business continuity is a primary value driver. Because no details are included regarding the interior layout, seating capacity, equipment, lease terms, or financial performance, due diligence should focus on verifying the operating history, reviewing all transfer and licensing requirements, and confirming the terms that govern occupancy and ongoing operation at the location.
The restaurant is located at 1618 W 3rd Ave in Spokane, Washington. While additional site specifics are not provided here, the key takeaway is that the business has remained in place and operating successfully over time at this address, which may be attractive to entrepreneurs and investor-operators seeking continuity.
Prospective buyers should view this as a hands-on restaurant opportunity where business continuity is a primary value driver. Because no details are included regarding the interior layout, seating capacity, equipment, lease terms, or financial performance, due diligence should focus on verifying the operating history, reviewing all transfer and licensing requirements, and confirming the terms that govern occupancy and ongoing operation at the location.
Key Highlights
- Established restaurant business offered for sale at a long‑time location in Spokane
- Building year built: 1929
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,059
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,180
$461.2K
Cap Rate 7%
$329,414
$329.4K
Cap Rate 9%
$256,211
$256.2K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$33.1K $17.40/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$30.7K $16.18/SF
− OpEx
−$7.7K −$4.05/SF
NOI
$23.1K $12.14/SF
Area
Spokane, 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 Rate 5%
$461,180
Cap Rate 7%
$329,414
Cap Rate 9%
$256,211
Alternative Uses
Best Use
Specialty Retail
$329.4K
$288.2K – $384.3K
NOI $23,059 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$490.2K
$428.9K – $571.9K
NOI $34,314 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,376
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Established restaurant business offered for sale at a long-time location in Spokane.
Where is this conventional restaurant located?
The property is located at 1618 W 3rd Ave Spokane, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Established restaurant business offered for sale at a long‑time location in Spokane; Building year built: 1929
