Versatile Mixed-Use Building in Soap
315 Main Ave E Soap Lake, WA 98851
315 Main Ave E, Soap Lake, WA, 98851
$475,000
For Sale
$475,000
Multi-use building with storefront, spa layout, and living quarters.
Property Size4,460 SF
Price / SF$106.50
Days on Market179
Property Features for 315 Main Ave E
General Information
- Standard status
- Active
- Size
- 4,460 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2001
Listing agency
WINDERMERE K-2 REALTY, LLC
Listed by
BRANDON DOUGLASS
Source
Corcoran
Added: Jan 23 Updated: Jul 10 at 3:46PM Checked: Jul 21 at 5:11AM
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 K-2 REALTY, LLC
Investment Insights
Based on property information with market context.
Located in downtown Soap Lake, this multi-use building offers a versatile opportunity near the lake, restaurants, resorts, and local entertainment. The street-facing entrance features an approximately 1,000 sq ft storefront suitable for retail, office, or service use. The rear of the building, accessible via a separate entrance, has a spa or massage-style layout with multiple rooms that could be leased individually or utilized as part of a single business. A separate basement space provides additional potential for expansion or future conversion. The property also includes two additional living quarters suitable for residential tenants, creating a live-work or income-producing opportunity. Outdoor space adds even more flexibility. The property has a total size of 4,460 square feet.
Key Highlights
- Prime downtown Soap Lake location near the lake, restaurants, resorts, and entertainment.
- Versatile multi‑use building suitable for retail, office, service, or spa/massage businesses.
- Income‑producing potential with two separate living quarters for residential tenants.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.2k | $14.40 |
| − Vacancy | −$6.4k | −$1.44 |
| EGI | $57.8k | $12.96 |
| − OpEx | −$17.3k | −$3.89 |
| NOI | $40.5k | $9.07 |
4,460 SF · lease $14.40/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$578.0K
$505.8K – $674.4K
NOI $40,461 @ 7.0% cap · market cap 8.52%
Second Best
Mixed Use
$488.8K
$427.7K – $570.3K
NOI $34,219 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$968.9K
$847.8K – $1.13M
NOI $67,821 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Storefront properties
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FAQs
What type of property is this?
Mixed-use property - Multi-use building with storefront, spa layout, and living quarters.
Where is this mixed-use property located?
The property is located at 315 Main Ave E Soap Lake, WA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Prime downtown Soap Lake location near the lake, restaurants, resorts, and entertainment.; Versatile multi‑use building suitable for retail, office, service, or spa/massage businesses.; Income‑producing potential with two separate living quarters for residential tenants.
