Historic Tavern with
For Sale
Contact for pricing
2926 N MONROE ST, Spokane, WA 99205
Well-maintained tavern sale includes a separate, renovated upstairs one-bedroom, one-bath apartment.
Property Size2,816 SF
Price / SF$234.38
Days on Market70
Property Features for 2926 N MONROE ST
General Information
Standard status
Active
Size
2,816 SF
Property subtype
Retail, Business for Sale
Zoning
CC2
Building Details
Year Built
1933
Year Renovated
2020
Stories
2
Listing Agency:
Windermere Valley Liberty Lake
(509) 263-5645
Listed By:
Haley Busby · License #WA 21015569
Source:
Crexi
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 9 at 11:50AM
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 Windermere Valley Liberty Lake
Investment Insights
Based on property information with market context.
Offered for sale is Spokane’s second-oldest tavern, The Hub Tavern. The property has been meticulously maintained and thoughtfully updated in recent years, preserving its character while enhancing its appeal.
The tavern is located in the Monroe District, which has been recently revitalized.
In addition to the tavern space, the property includes separate, renovated living quarters upstairs with a one-bedroom, one-bath apartment, providing additional income potential.
The tavern is located in the Monroe District, which has been recently revitalized.
In addition to the tavern space, the property includes separate, renovated living quarters upstairs with a one-bedroom, one-bath apartment, providing additional income potential.
Key Highlights
- Year built 1933—Spokane’s second‑oldest tavern, The Hub Tavern
- Well‑maintained tavern in the recently revitalized Monroe District
- Meticulously maintained with thoughtful updates in recent years while preserving its character
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
$34,176
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
5.18%
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%
$683,520
$683.5K
Cap Rate 7%
$488,229
$488.2K
Cap Rate 9%
$379,733
$379.7K
Market Conditions
NOI Build-Up for 2,816 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
$49.0K $17.40/SF
− Vacancy
−$3.4K −$1.22/SF
EGI
$45.6K $16.18/SF
− OpEx
−$11.4K −$4.05/SF
NOI
$34.2K $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 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%
$683,520
Cap Rate 7%
$488,229
Cap Rate 9%
$379,733
Alternative Uses
Best Use
Specialty Retail
$488.2K
$427.2K – $569.6K
NOI $34,176 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,857 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
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.
Similar Off Market Nearby
- Vettore — 2010 n madison st, spokane, wa 99205
- PJS PUB — 1717 N Monroe St, Spokane, WA 99205
- Prohibition Gastropub — 1914 N Monroe St, Spokane, WA 99205
- Four-Eyed Guys Brewing Co. — 910 W Indiana Ave, Spokane, WA 99205
- 7th Rail — 1911 N Maple St, Spokane, WA 99205
Frequently Asked Questions
What type of property is this?
Bar & Pub - Well-maintained tavern sale includes a separate, renovated upstairs one-bedroom, one-bath apartment.
Where is this bar & pub located?
The property is located at 2926 N MONROE ST Spokane, WA.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Year built 1933—Spokane’s second‑oldest tavern, The Hub Tavern; Well‑maintained tavern in the recently revitalized Monroe District; Meticulously maintained with thoughtful updates in recent years while preserving its character
