315 Main Ave E, Soap Lake, WA 98851

Listing Agency: Windermere K-2 Realty, LLC Show Phone

Listed By: Brandon Douglass · License #NWM133245 Show Phone

Source: Moodyscre

Added: Jan 23 Changed: Oct 25 Last Checked: Nov 6 at 9:31AM

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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

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Investment Insights

Based on property information with market context.

For sale at 315 Main Ave E in Soap Lake, this mixed-use live-work building is designed for flexible operations. The street-facing entrance includes an approximately 1,000 sq ft storefront suited for retail, office, or service use. At the rear, a separate entrance leads to a spa or massage-style layout with multiple rooms.

A separate basement space provides additional potential for expansion or future conversion. The property also includes two additional living quarters, creating a live-work configuration or residential rental income opportunity. Outdoor space adds flexibility for seating and gatherings.

The building’s combination of storefront frontage, dedicated rear guest/room layout, and separate basement and residential areas can support multiple ways to use the property within one address.

Key Highlights

• Street‑facing entrance includes an approximately 1,000 SF storefront for retail, office, or service use.
• Separate rear entrance leads to a spa/massage‑style layout with multiple rooms that can be leased individually or used as one business.
• Separate basement space offers additional potential for expansion or future conversion.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,461

Cap Rate

8.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$809,220 $809.2K

Cap Rate 7%

$578,014 $578.0K

Cap Rate 9%

$449,567 $449.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,460 SF

Gross rent

$64.2K $14.40/SF

− Vacancy

−$6.4K −$1.44/SF

EGI

$57.8K $12.96/SF

− OpEx

−$17.3K −$3.89/SF

NOI

$40.5K $9.07/SF

Area

Grant County, WA

Vacancy

10.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$809,220

Cap Rate 7%

$578,014

Cap Rate 9%

$449,567

Alternative Uses

Best Use

Office B

$682.4K

$597.1K – $796.1K (±1% cap)

NOI $47,767 @ 7.0% cap · market cap 10.06%

Second Best

Retail

$578.0K

$505.8K – $674.4K (±1% cap)

NOI $40,461 @ 7.0% cap · market cap 8.52%

Theoretical Best

Office A

$968.9K

$847.8K – $1.13M (±1% cap)

NOI $67,821 @ 7.0% cap · market cap 14.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Live-work space

Suggested Use

Top Pick Plumbing Service Electrical Service Storage Facility Carpet & Flooring Store (Bike/Boat/Book/etc) Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

139

Businesses Nearby

Explore this area Business Placement

Demographics for 98851, WA

4,472

Population

2,078

Households

2.2

Avg Household Size

46

Median Age

15%

College-Educated

86%

High-School Grad

146.1 sq mi

ZIP Area

31

Density / Sq Mi

$67,009

Median Household Income

$35,124

Median Earnings

$902

Median Rent

$240,500

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Live-work space - Multi-use building with a street-facing storefront, separate rear spa rooms, basement space, and two additional living quarters.

Where is this live-work space 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: Street‑facing entrance includes an approximately 1,000 SF storefront for retail, office, or service use.; Separate rear entrance leads to a spa/massage‑style layout with multiple rooms that can be leased individually or used as one business.; Separate basement space offers additional potential for expansion or future conversion.