Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    323 E Main St Soap Lake, WA 98851

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    3,575 SF building ready for renovation in Soap Lake.

    Lot size:
    0.08 Acres

    Property Features for 323 E Main St

    General Information

    Standard status
    Active
    Lot size
    0.08 Acres

    Building Details

    Year built
    1948

    We can help!

    Listing Contact
    Theresa Bennett Scheib
    Source: Corcoran

    Listing Agency: UNITED COUNTRY RE - PATRICK RE Listing Agent: Theresa Bennett Scheib

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Soap Lake Retail Opportunity

    The property features a 3,575 square foot building situated on a 3,600 square foot lot. The interior has been stripped down to concrete block walls and trusses, presenting a blank canvas for customization. A new 60MIL TPO Membrane Roof was installed in July 2024.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Map

    City
    Soap Lake
    County
    Grant
    State
    Washington
    Longitude
    -119.486
    Latitude
    47.4314

    Nearby Similar for Sale

    • $475,000
      4,460 SF

      Versatile Mixed-Use Building in Soap Lake

      Multi-use building with storefront, spa layout, and living quarters.
      315 Main Ave E, Soap Lake, WA 98851
      View Details
    • Contact for pricing

      Retail Building in Soap Lake

      3200 SF retail building on 4800 SF lot.
      327 E Main St, Soap Lake, WA 98851
      View Details
    • Contact for pricing

      Versatile Mixed-Use Building in Soap Lake

      Multi-use building with storefront, spa layout, and living quarters.
      315 E Main St, Soap Lake, WA 98851
      View Details
    • Contact for pricing
      4,091 SF

      Soap Lake Waterfront Multifamily Opportunity

      Waterfront property with multiple units and potential for expansion.
      21058 Hwy N, Soap Lake, WA
      View Details
    • Contact for pricing
      1,440 SF

      152.5-Acre Farm with Irrigation

      Farm with tillable acres, home, shop, and irrigation equipment.
      17866 B.5 Rd, Soap Lake, WA 98851
      View Details
    • Contact for pricing

      Highway 28 Income Property

      1.82-acre property with income potential near Soap Lake.
      1176 Soap Lake Way, Soap Lake, WA 98851
      View Details
    • Contact for pricing
      1,512 SF

      Spacious Home with Dream Workshop

      1993 Marlette home featuring a large workshop on a corner lot.
      115 4Th Ave SE, Soap Lake, WA 98851
      View Details

    FAQs

    What type of property is this?
    Storefront property - 3,575 SF building ready for renovation in Soap Lake.
    Where is this storefront property located?
    The property is located at 323 E Main St Soap Lake, WA.
    What are key features of this property?
    This property features: - 3,575 sq ft building offers substantial space.; - Blank canvas interior ready for complete customization.; - New 60MIL TPO Membrane Roof installed July 2024.
    (509) 754-3511
    Request Owner's contact information
    323 E Main St Soap Lake, WA 98851
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    323 E Main St
    Soap Lake, WA 98851
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    323 E Main St Soap Lake, WA 98851
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Theresa Bennett Scheib
    (509) 754-3511
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!