Salon Opportunity in Grand
For Sale
$220,000
217 Main St, Grand Coulee, WA 99133
Commercial building with salon infrastructure in a high-visibility location.
Property Size2,000 SF
Lot Size0.06 Acres
Price / SF$110
Days on Market661
Property Features for 217 Main St
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.06 Acres
Taxes and HOA fees
Annual Taxes
$1,451
Listing Agency:
Best Choice Realty LLC
(206) 886-3986
Listed By:
Monica Desautel · License #91849
(206) 886-3986
Source:
Exprealty
Added: Nov 1, 2024
Changed: Aug 20
Last Checked: Aug 23 at 4:41AM
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 Best Choice Realty LLC
Investment Insights
Based on property information with market context.
This commercial building, constructed in 1984, offers 2,000 square feet of space on a 2,562 square foot lot. The property benefits from high visibility and accessibility, potentially ensuring consistent customer traffic. Previously operated as a salon for decades, the space includes five salon stations, two wash stations, three drying stations, a manicure chair station with a pedicure spa chair, and a private facial/massage room. Additional features include an employee break room, a utility room, and an ADA-accessible bathroom. The property also offers room for business expansion and benefits from ample street parking. The building is located in Grand Coulee and is suitable for a salon or other retail business.
Key Highlights
- High visibility and accessibility in a great location.
- Equipped salon ready for immediate operation.
- Rare opportunity to own a commercial building in the heart of Grand Coulee.
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
$18,144
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
8.25%
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%
$362,880
$362.9K
Cap Rate 7%
$259,200
$259.2K
Cap Rate 9%
$201,600
$201.6K
Market Conditions
NOI Build-Up for 2,000 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 $14.40/SF
− Vacancy
−$2.9K −$1.44/SF
EGI
$25.9K $12.96/SF
− OpEx
−$7.8K −$3.89/SF
NOI
$18.1K $9.07/SF
Area
Grant County, WA
Vacancy
10.00%
Lease Rate
$14.40 /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%
$362,880
Cap Rate 7%
$259,200
Cap Rate 9%
$201,600
Alternative Uses
Best Use
Retail
$259.2K
$226.8K – $302.4K
NOI $18,144 @ 7.0% cap · market cap 8.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$434.5K
$380.2K – $506.9K
NOI $30,413 @ 7.0% cap · market cap 13.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
12k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 74%
Shops & Services 18%
Dining 8%
Safeway
Groceries
8,990 visits/mo
0.2 miles
Hometown Pizza
Dining
1,004 visits/mo
0.4 miles
Les Schwab Tire Center
Shops & Services
990 visits/mo
0.1 miles
Jess Ford
Shops & Services
637 visits/mo
0.3 miles
Napa Auto Parts
Shops & Services
584 visits/mo
0.1 miles
Demographics for 99133, WA
1,476
Population
847
Households
1.7
Avg Household Size
52
Median Age
30%
College-Educated
90%
High-School Grad
182.5 sq mi
ZIP Area
8
Density / Sq Mi
$49,625
Median Household Income
$48,011
Median Earnings
$703
Median Rent
$221,100
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.
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with salon infrastructure in a high-visibility location.
Where is this storefront property located?
The property is located at 217 Main St Grand Coulee, WA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: High visibility and accessibility in a great location.; Equipped salon ready for immediate operation.; Rare opportunity to own a commercial building in the heart of Grand Coulee.
