Equipped Conventional
For Sale
Contact for pricing
249 E Main St, Monroe, WA 98272
Restaurant space includes a Type-1 hood, walk-in freezer, bar, and two separate bathrooms.
Property Size2,870 SF
Price / SF$452.96
Days on Market104
Property Features for 249 E Main St
General Information
Standard status
Active
Size
2,870 SF
Property subtype
RETAIL
Restaurant
Seating Capacity
91
Hood Type
Type I
Commercial Hood
Yes
Additional Details
Business Included
Yes
Listing Agency:
John L. Scott - Renton
(206) 779-0630
Listed By:
Kevin Ksor
(206) 779-0630
Source:
Moodyscre
Added: Apr 28
Changed: Aug 8
Last Checked: Aug 8 at 9:50AM
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 John L. Scott - Renton
Investment Insights
Based on property information with market context.
This 2,870-square-foot conventional restaurant is located at 249 E Main St in downtown Monroe. The space accommodates up to 91 guests and includes a dining area, fully equipped kitchen, Type-1 hood, walk-in freezer, bar, and two separate bathrooms.
Currently operating as a Vietnamese restaurant, the property offers an established restaurant layout with dedicated customer and service areas. Its downtown setting and existing restaurant improvements support continued food-service use, subject to applicable requirements.
Currently operating as a Vietnamese restaurant, the property offers an established restaurant layout with dedicated customer and service areas. Its downtown setting and existing restaurant improvements support continued food-service use, subject to applicable requirements.
Key Highlights
- 2,870‑square‑foot restaurant space at 249 E Main St, Monroe, WA 98272
- Accommodates up to 91 guests
- Fully equipped kitchen with Type‑1 hood
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
$44,669
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
3.44%
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%
$893,380
$893.4K
Cap Rate 7%
$638,129
$638.1K
Cap Rate 9%
$496,322
$496.3K
Market Conditions
NOI Build-Up for 2,870 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
$63.0K $21.96/SF
− Vacancy
−$3.5K −$1.21/SF
EGI
$59.6K $20.75/SF
− OpEx
−$14.9K −$5.19/SF
NOI
$44.7K $15.56/SF
Area
Snohomish County, WA
Vacancy
5.50%
Lease Rate
$21.96 /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%
$893,380
Cap Rate 7%
$638,129
Cap Rate 9%
$496,322
Alternative Uses
Best Use
Specialty Retail
$638.1K
$558.4K – $744.5K
NOI $44,669 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$800.4K
$700.4K – $933.8K
NOI $56,028 @ 7.0% cap · market cap 4.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
344k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Shops & Services 29%
Groceries 18%
Home Improvements & Furnishings 12%
Safeway
Groceries
50,406 visits/mo
0.2 miles
McDonald's
Dining
42,737 visits/mo
0.1 miles
Lowe's
Home Improvements & Furnishings
32,607 visits/mo
0.5 miles
Dollar Tree
Shops & Services
23,138 visits/mo
0.2 miles
Taco Bell
Dining
20,638 visits/mo
0.5 miles
Demographics for 98272, WA
31,127
Population
10,313
Households
3
Avg Household Size
38
Median Age
29%
College-Educated
92%
High-School Grad
106.3 sq mi
ZIP Area
293
Density / Sq Mi
$115,894
Median Household Income
$51,879
Median Earnings
$1,902
Median Rent
$638,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Restaurant space includes a Type-1 hood, walk-in freezer, bar, and two separate bathrooms.
Where is this conventional restaurant located?
The property is located at 249 E Main St Monroe, WA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: 2,870‑square‑foot restaurant space at 249 E Main St, Monroe, WA 98272; Accommodates up to 91 guests; Fully equipped kitchen with Type‑1 hood
