Listing Agency: Kiemle Hagood Show Phone

Listed By: Tim Kestell · License #84800 Show Phone

Source: Moodyscre

Added: Sep 10 Changed: Sep 19 Last Checked: Sep 22 at 8:15PM

Report an Issue

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 Kiemle Hagood

Investment Insights

Based on property information with market context.

This 4,278-square-foot commercial property was previously operated as a bar and grill, providing an existing foundation for continued bar or food-service use. The asset is also associated with prior RV park and campground operations, expanding its documented operating history beyond the building itself.

Located at 37011 N Newport Hwy in Chattaroy, Washington, the property fronts Newport Highway in a roadside setting. Its combination of established bar-and-grill history, highway positioning, and former campground use creates a flexible commercial profile for an owner-operator or investor.

Key Highlights

• 4,278‑square‑foot bar and grill property
• Previously operated as a bar and grill
• Former RV park and campground operations

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

$44,123

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

8.82%

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%

$882,460 $882.5K

Cap Rate 7%

$630,329 $630.3K

Cap Rate 9%

$490,256 $490.3K

Market Conditions

NOI Build-Up for 4,278 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

$61.6K $14.40/SF

− Vacancy

−$2.8K −$0.65/SF

EGI

$58.8K $13.75/SF

− OpEx

−$14.7K −$3.44/SF

NOI

$44.1K $10.31/SF

Area

Spokane County, WA

Vacancy

4.50%

Lease Rate

$14.40 /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%

$882,460

Cap Rate 7%

$630,329

Cap Rate 9%

$490,256

Alternative Uses

Best Use

Specialty Retail

$630.3K

$551.5K – $735.4K (±1% cap)

NOI $44,123 @ 7.0% cap · market cap 8.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$988.5K

$865.0K – $1.15M (±1% cap)

NOI $69,197 @ 7.0% cap · market cap 13.84%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Bars & Pubs

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Storage Facility Tech Support Center Restaurant Daycare Center

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

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 99005, WA

10,253

Population

3,656

Households

2.8

Avg Household Size

42

Median Age

36%

College-Educated

97%

High-School Grad

39.6 sq mi

ZIP Area

259

Density / Sq Mi

$123,259

Median Household Income

$49,775

Median Earnings

$1,185

Median Rent

$488,100

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this bars & pubs located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Bar & Pub - Roadside bar-and-grill property with prior RV park and campground operations.

Where is this bar & pub located?

The property is located at 37011 N Newport Hwy Chattaroy, WA.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: 4,278‑square‑foot bar and grill property; Previously operated as a bar and grill; Former RV park and campground operations