Two-Story Live-Work
New
For Sale
Contact for pricing
301 W Main St, Monroe, WA 98272
Mixed Use–Neighborhood zoning supports professional offices and other commercial services.
Property Size1,573 SF
Lot Size0.15 Acres
Price / SF$381.40
Days on Market3
Property Features for 301 W Main St
General Information
Standard status
Active
Size
1,573 SF
Lot size
0.15 Acres
Property subtype
OFFICE
Zoning
Mixed Use–Neighborhood
Additional Details
Highway Access
Yes
Amenities
accessibility ramp
covered front porch
bay windows
Building Details
Year Built
1903
Buildings
2
Stories
2
Building Size
1,573 SF
Listing Agency:
Coldwell Banker Commercial Danforth
(206) 971-8800
Listed By:
Heidi Ihde · License #21025621
(425) 478-7546
Source:
Moodyscre
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 2 at 1:18PM
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 Coldwell Banker Commercial Danforth
Investment Insights
Based on property information with market context.
This two-story live-work property at 301 W Main St combines approximately 1,573 SF of building area with a 6,534 SF lot. Originally built in 1903, the building includes multiple rooms suitable for offices, reception, meetings, or shared work areas, along with two bathrooms, a kitchen, laundry, and additional upper-level space. Modern improvements include commercial-grade heating and air conditioning, an accessibility ramp, updated kitchen finishes, and paved off-street parking. A covered porch and bay windows contribute to the building’s street-facing character.
A detached approximately 221 SF outbuilding adds separate space for an office, studio, storage, or accessory use. The property occupies the corner of W Main Street and Madison Street and is walkable to downtown Monroe shops, restaurants, and services, with access to US-2 and SR-522. Mixed Use–Neighborhood zoning permits professional offices and various other commercial uses. Existing residential occupancy is in place, and proposed use, change-of-use approval, certificate of occupancy, and code requirements should be verified with the City of Monroe and applicable agencies.
A detached approximately 221 SF outbuilding adds separate space for an office, studio, storage, or accessory use. The property occupies the corner of W Main Street and Madison Street and is walkable to downtown Monroe shops, restaurants, and services, with access to US-2 and SR-522. Mixed Use–Neighborhood zoning permits professional offices and various other commercial uses. Existing residential occupancy is in place, and proposed use, change-of-use approval, certificate of occupancy, and code requirements should be verified with the City of Monroe and applicable agencies.
Key Highlights
- Approximately 1,573 SF two‑story building on a 6,534 SF lot
- 1903 construction with commercial‑grade heating and air conditioning
- Detached approximately 221 SF outbuilding for office, studio, storage, or accessory use
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
$28,017
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
4.67%
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%
$560,340
$560.3K
Cap Rate 7%
$400,243
$400.2K
Cap Rate 9%
$311,300
$311.3K
Market Conditions
NOI Build-Up for 1,573 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
$43.0K $27.36/SF
− Vacancy
−$5.7K −$3.61/SF
EGI
$37.4K $23.75/SF
− OpEx
−$9.3K −$5.94/SF
NOI
$28.0K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /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%
$560,340
Cap Rate 7%
$400,243
Cap Rate 9%
$311,300
Alternative Uses
Best Use
Office B
$400.2K
$350.2K – $467.0K
NOI $28,017 @ 7.0% cap · market cap 4.67%
Second Best
Mixed Use
$253.3K
$221.7K – $295.5K
NOI $17,732 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$438.7K
$383.9K – $511.8K
NOI $30,708 @ 7.0% cap · market cap 5.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,345
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed Use–Neighborhood zoning supports professional offices and other commercial services.
Where is this live-work space located?
The property is located at 301 W Main St Monroe, WA.
What is the asking price?
The asking price for this property is $599,950.
What are key features of this property?
This property features: Approximately 1,573 SF two‑story building on a 6,534 SF lot; 1903 construction with commercial‑grade heating and air conditioning; Detached approximately 221 SF outbuilding for office, studio, storage, or accessory use
