Retail Space with Upstairs and Two Downstairs
For Sale
$995,000
381 E Main Street, Monroe, WA 98272
Vacant retail space with heating and air conditioning, public water, and uncovered parking for up to 20 vehicles.
Property Size4,992 SF
Price / SF$199.32
Days on Market479
Property Features for 381 E Main Street
General Information
Standard status
Active
Size
4,992 SF
Property subtype
Commercial
Additional Details
Road Access
Yes
Amenities
Vinyl,Carpet
Yes
No
Electric
6
Public
117
0.18
Wood
Slab
20
Building Details
Year Built
2000
Buildings
1
Building Size
4,992 SF
Listing Agency:
Sonya DeAngelo Real Estate
(916) 671-0327
Listed By:
Alexander Altomare · License #200403006
(916) 671-0327
Source:
Premierepropertygroup
Added: Apr 18, 2025
Changed: Aug 8
Last Checked: Aug 9 at 6:25AM
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 Sonya DeAngelo Real Estate
Investment Insights
Based on property information with market context.
This vacant retail space presents a redevelopment or renovation opportunity in a 4,992 SF commercial building. The layout includes a huge room upstairs plus two separate downstairs spaces. There are 2 bathrooms upstairs and 2 bathrooms downstairs, supporting flexible use for a retail, office, studio, or mixed-use concept.
Located at 381 E Main Street in downtown Monroe, the property is described as offering Main Street visibility and steady traffic. Site frontage is 117, set on a 0.18-acre lot with public water and a slab foundation.
Built in 2000, the building includes heating and air conditioning and electric power production. Interior finishes include vinyl and carpet flooring, and exterior finishes include wood. Uncovered parking totals 20 spaces.
Located at 381 E Main Street in downtown Monroe, the property is described as offering Main Street visibility and steady traffic. Site frontage is 117, set on a 0.18-acre lot with public water and a slab foundation.
Built in 2000, the building includes heating and air conditioning and electric power production. Interior finishes include vinyl and carpet flooring, and exterior finishes include wood. Uncovered parking totals 20 spaces.
Key Highlights
- 4,992 SF commercial building with a huge upstairs room
- Two separate downstairs spaces
- 2 bathrooms upstairs and 2 bathrooms downstairs
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
$88,914
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
8.94%
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%
$1,778,280
$1.8M
Cap Rate 7%
$1,270,200
$1.3M
Cap Rate 9%
$987,933
$987.9K
Market Conditions
NOI Build-Up for 4,992 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
$136.6K $27.36/SF
− Vacancy
−$18.0K −$3.61/SF
EGI
$118.6K $23.75/SF
− OpEx
−$29.6K −$5.94/SF
NOI
$88.9K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /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%
$1,778,280
Cap Rate 7%
$1,270,200
Cap Rate 9%
$987,933
Alternative Uses
Best Use
Office B
$1.27M
$1.11M – $1.48M
NOI $88,914 @ 7.0% cap · market cap 8.94%
Second Best
Retail
$1.00M
$879.3K – $1.17M
NOI $70,346 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,453 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 98272, WA
31,127
Population
10,313
Households
3
Avg Household Size
38
Median Age
29%
College-Educated
92%
High-School Grad
106.3 sq mi
ZIP Area
293
Density / Sq Mi
$115,894
Median Household Income
$51,879
Median Earnings
$1,902
Median Rent
$638,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Vacant retail space with heating and air conditioning, public water, and uncovered parking for up to 20 vehicles.
Where is this retail space located?
The property is located at 381 E Main Street Monroe, WA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,992 SF commercial building with a huge upstairs room; Two separate downstairs spaces; 2 bathrooms upstairs and 2 bathrooms downstairs
