Mixed-Use Property with Commercial
For Sale
$629,000
24635 Highway 243 S, Mattawa, WA 99349
Live-work property with dedicated kitchen infrastructure, residential zoning, and river-corridor setting.
Property Size5,374 SF
Price / SF$117.05
Days on Market65
Property Features for 24635 Highway 243 S
General Information
Standard status
Active
Size
5,374 SF
Total Parking Spaces
8
Property subtype
Commercial
Zoning
Residential
Taxes and HOA fees
Annual Taxes
$3,912
Amenities
commercial kitchen
mountain views
park-like landscaping
wisteria-covered pergola patio
Building Details
Year Built
1945
Listing Agency:
Nick McLean Real Estate Group
(509) 670-5532
Listed By:
Susan Wall
(509) 670-5532
Source:
Multifamilyspecialist
Added: Jun 8
Changed: Aug 10
Last Checked: Aug 10 at 12:08PM
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 Nick McLean Real Estate Group
Investment Insights
Based on property information with market context.
This mixed-use property combines 5,374 sq ft of live-work or retreat-style space with a full commercial kitchen. The kitchen includes a commercial sink, reach-in cooler, dedicated power, and its own electrical meter. Residential zoning applies to the property. The building offers 5 bedrooms, 5 baths, main-floor living, and a basement that sleeps 10.
Set along the Columbia River corridor, the property occupies 2+ park-like acres with mountain views, mature landscaping, and a patio featuring a wisteria-covered pergola. Built in 1945, the improvements bring together residential accommodations and commercial kitchen infrastructure in one property.
Set along the Columbia River corridor, the property occupies 2+ park-like acres with mountain views, mature landscaping, and a patio featuring a wisteria-covered pergola. Built in 1945, the improvements bring together residential accommodations and commercial kitchen infrastructure in one property.
Key Highlights
- 5,374 sq ft of live‑work or retreat‑style space
- Full commercial kitchen with commercial sink and reach‑in cooler
- Dedicated power and separate electrical meter for the kitchen
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
$57,556
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
9.15%
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%
$1,151,120
$1.2M
Cap Rate 7%
$822,229
$822.2K
Cap Rate 9%
$639,511
$639.5K
Market Conditions
NOI Build-Up for 5,374 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
$90.3K $16.80/SF
− Vacancy
−$13.5K −$2.52/SF
EGI
$76.7K $14.28/SF
− OpEx
−$19.2K −$3.57/SF
NOI
$57.6K $10.71/SF
Area
Grant County, WA
Vacancy
15.00%
Lease Rate
$16.80 /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%
$1,151,120
Cap Rate 7%
$822,229
Cap Rate 9%
$639,511
Alternative Uses
Best Use
Specialty Retail
$851.8K
$745.3K – $993.8K
NOI $59,626 @ 7.0% cap · market cap 9.48%
Second Best
Office B
$822.2K
$719.5K – $959.3K
NOI $57,556 @ 7.0% cap · market cap 9.15%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,719 @ 7.0% cap · market cap 12.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 99349, WA
7,960
Population
2,754
Households
2.9
Avg Household Size
28
Median Age
13%
College-Educated
54%
High-School Grad
267.4 sq mi
ZIP Area
30
Density / Sq Mi
$62,851
Median Household Income
$28,864
Median Earnings
$1,181
Median Rent
$409,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Live-work property with dedicated kitchen infrastructure, residential zoning, and river-corridor setting.
Where is this mixed-use property located?
The property is located at 24635 Highway 243 S Mattawa, WA.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: 5,374 sq ft of live‑work or retreat‑style space; Full commercial kitchen with commercial sink and reach‑in cooler; Dedicated power and separate electrical meter for the kitchen
