Building Details

Year built 1972

Building materials Steel Frame

Roof type Metal

Additional Structures Workshop

Listing Agency: Real Estate Marketplace NW,Inc m***@aol.com Show Phone

Listed By: Jason Cartee · License #25006733 Show Phone

Added: Jun 23 Changed: Aug 4 Last Checked: Aug 11 at 9:06PM

Report an Issue

MLS# 202619724

Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This insulated storefront property includes approximately 1,374 square feet within a steel-frame building constructed in 1972. The building has a metal roof, propane heating, and 200-amp electrical service. Water and sewer are available at the property, and the parcel encompasses 0.3 acres.

The property is approximately 300 feet from the roundabout connecting Hwy 395 and Hwy 292. WADOT vehicle counts for 2025 report Hwy 395 averaging over 8000 vehicles per day and Hwy 292 averaging over 4000 vehicles per day.

Key Highlights

• Approximately 1,374 square feet of insulated commercial space
• 0.3‑acre parcel with water and sewer available at the property
• 200‑amp electrical service

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

$14,257

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

3.56%

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%

$285,140 $285.1K

Cap Rate 7%

$203,671 $203.7K

Cap Rate 9%

$158,411 $158.4K

Market Conditions

NOI Build-Up for 1,374 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

$22.3K $16.20/SF

− Vacancy

−$1.9K −$1.38/SF

EGI

$20.4K $14.82/SF

− OpEx

−$6.1K −$4.45/SF

NOI

$14.3K $10.38/SF

Area

Stevens County, WA

Vacancy

8.50%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

30.00%

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%

$285,140

Cap Rate 7%

$203,671

Cap Rate 9%

$158,411

Alternative Uses

Best Use

Retail

$203.7K

$178.2K – $237.6K (±1% cap)

NOI $14,257 @ 7.0% cap · market cap 3.56%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$354.5K

$310.2K – $413.6K (±1% cap)

NOI $24,814 @ 7.0% cap · market cap 6.20%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 99148, WA

2,324

Population

2,099

Households

1.1

Avg Household Size

54

Median Age

30%

College-Educated

95%

High-School Grad

70.6 sq mi

ZIP Area

33

Density / Sq Mi

$74,732

Median Household Income

$41,932

Median Earnings

$900

Median Rent

$415,600

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 storefront properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar For Sale Nearby

Cannabis Retail Building

3948 3RD Ave, Loon Lake, WA 99148

$299,000

0.26 Acres

View details

Insulated Retail Shop

3941 Highway 292, Loon Lake, WA 99148

$400,000

1,374 SF

View details

Frequently Asked Questions

What type of property is this?

Storefront property - Insulated commercial space with 200-amp service and water and sewer available at the property.

Where is this storefront property located?

The property is located at 3941 292 Hwy Loon Lake, WA.

What is the asking price?

The asking price for this property is $400,000.

What are key features of this property?

This property features: Approximately 1,374 square feet of insulated commercial space; 0.3‑acre parcel with water and sewer available at the property; 200‑amp electrical service