Downtown Mixed-Use
For Sale
$1,200,000
319 North Sanders Street, Chelan, WA 98816
Property is situated within the Chelan DMU downtown mixed-use designation.
Property Size4,200 SF
Days on Market69
Property Features for 319 North Sanders Street
General Information
Standard status
Active
Size
4,200 SF
Property subtype
Retail/Office
Zoning
Downtown Mixed Use Zone (Chelan DMU)
Building Details
Building Size
4,200 SF
Year Built
1980
Listing Agency:
Black Commercial, Inc.
(509) 202-5458
Listed By:
Clayton Crockett · License ##24003030
(509) 202-5458
Source:
Naiblack
Added: Jun 23
Changed: Aug 29
Last Checked: Aug 29 at 6:24PM
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 Black Commercial, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property was constructed in 1980 and is located at 319 North Sanders Street in Chelan, Washington.
The site falls within the Chelan DMU zoning designation, identified as a downtown mixed-use zone.
The site falls within the Chelan DMU zoning designation, identified as a downtown mixed-use zone.
Key Highlights
- Chelan DMU downtown mixed‑use zoning designation
- 1980 construction year
- 319 North Sanders Street, Chelan, WA 98816
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
$54,243
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
4.52%
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%
$1,084,860
$1.1M
Cap Rate 7%
$774,900
$774.9K
Cap Rate 9%
$602,700
$602.7K
Market Conditions
NOI Build-Up for 4,200 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
$88.2K $21.00/SF
− Vacancy
−$15.9K −$3.78/SF
EGI
$72.3K $17.22/SF
− OpEx
−$18.1K −$4.31/SF
NOI
$54.2K $12.92/SF
Area
Chelan County, WA
Vacancy
18.00%
Lease Rate
$21.00 /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%
$1,084,860
Cap Rate 7%
$774,900
Cap Rate 9%
$602,700
Alternative Uses
Best Use
Office B
$774.9K
$678.0K – $904.1K
NOI $54,243 @ 7.0% cap · market cap 4.52%
Second Best
Retail
$603.5K
$528.1K – $704.1K
NOI $42,248 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.10M
$963.9K – $1.29M
NOI $77,112 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Explore this area
Business Placement
Demographics for 98816, WA
7,067
Population
5,398
Households
1.3
Avg Household Size
47
Median Age
24%
College-Educated
81%
High-School Grad
494.2 sq mi
ZIP Area
14
Density / Sq Mi
$73,807
Median Household Income
$40,565
Median Earnings
$1,332
Median Rent
$450,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Property is situated within the Chelan DMU downtown mixed-use designation.
Where is this mixed-use property located?
The property is located at 319 North Sanders Street Chelan, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Chelan DMU downtown mixed‑use zoning designation; 1980 construction year; 319 North Sanders Street, Chelan, WA 98816
