Storefront with Security
For Sale
$299,000
3948 3RD Ave, Loon Lake, WA 99148
Commercial, LOON LAKE, WA
Property Size1,156 SF
Lot Size0.26 Acres
Price / SF$258.65
Days on Market98
Property Features for 3948 3RD Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Parking features
On Street, Off Street
Security features
Security System
Exterior features
Security System
Directions
US-395 S to Loon Lake Take Colville Rd to 3rd Ave Turn left onto 3rd Ave Destination will be on the right
Subdivision
S11 - Southeast County
Standard status
Active
APN
0631000
Size
1,156 SF
Lot size
0.26 Acres
Additional Details
Currently Operating
Yes
Taxes and HOA fees
Tax Year
2026
Tax Description
LOON LAKE CHRISTENSEN SUB LOT 3 BLK 3 CHRISTENSEN SUB LOON LAKE
Legal Description
LOON LAKE CHRISTENSEN SUB LOT 3 BLK 3 CHRISTENSEN SUB LOON LAKE
Utilities
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
1996
Listing Agency:
WESTERGARD REAL ESTATE
(509) 738-9378
Listed By:
ROBYN M WESTERGARD · License #17565
(509) 675-5540
Added: Jul 23
Changed: Oct 27
Last Checked: Oct 28 at 3:06AM
MLS# 46228
Copyright © 2026 Northeast Washington Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,156-square-foot storefront, built in 1996, is currently used as a cannabis outlet. A security system is installed, and the building has electric heating and public water. The property occupies a 0.26-acre lot and includes both on-street and off-street parking.
The site is near the Loon Lake roundabout and Hwy 395, with access from 3rd Avenue.
The site is near the Loon Lake roundabout and Hwy 395, with access from 3rd Avenue.
Key Highlights
- 1,156‑square‑foot storefront on a 0.26‑acre lot
- Currently used as a cannabis outlet
- Security system, electric heating, and public water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,995
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$239,900
$239.9K
Cap Rate 7%
$171,357
$171.4K
Cap Rate 9%
$133,278
$133.3K
Market Conditions
NOI Build-Up for 1,156 SF
Gross rent
$18.7K $16.20/SF
− Vacancy
−$1.6K −$1.38/SF
EGI
$17.1K $14.82/SF
− OpEx
−$5.1K −$4.45/SF
NOI
$12.0K $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 Rate 5%
$239,900
Cap Rate 7%
$171,357
Cap Rate 9%
$133,278
Alternative Uses
Best Use
Retail
$171.4K
$149.9K – $199.9K
NOI $11,995 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$298.2K
$261.0K – $348.0K
NOI $20,877 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
66
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Storefront property - On-street and off-street parking serve the property, with electric heat and public water.
Where is this storefront property located?
The property is located at 3948 3RD Ave Loon Lake, WA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,156‑square‑foot storefront on a 0.26‑acre lot; Currently used as a cannabis outlet; Security system, electric heating, and public water
