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    422 S Whitcomb Ave, Tonasket, WA 98855

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    Multi-tenant retail property in downtown Tonasket, Washington.

    Type:Retail
    Property size:
    7,404 SF
    Lot size:
    0.32 Acres
    Price / SF:
    $128/SF
    Added:
    Jan 29, 2026
    Days on Market:
    103
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 422 S Whitcomb Ave

    General Information

    Standard status
    Active
    Size
    7,404 SF
    Lot size
    0.32 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1938

    We can help!

    Listing Contact
    Jesse Fox
    Jesse Fox

    Listing agent Jesse Fox License #WA23158

    Listing office Marcus & Millichap - Seattle

    Listing date Jan 29, 2026

    Source Crexi

    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 Marcus & Millichap - Seattle

    HighLights

    • Fully leased multi‑tenant retail property providing immediate income.
    • Located directly along Highway 97 in Tonasket's downtown corridor, offering excellent exposure and accessibility.
    • Anchored by Subway, a national brand, ensuring consistent customer traffic.
    • Dedicated 25‑space parking lot located directly behind the structure.
    • High visibility with an average daily traffic count of approximately 7,300 vehicles.
    • Located in Tonasket, a retail and service hub for surrounding agricultural communities and travelers.

    Overview

    The property at 422 S Whitcomb Avenue in Tonasket, Washington, is a 7,404-square-foot, fully leased, multi-tenant retail building situated on 0.32 acres across two contiguous parcels. The building, located in Tonasket’s downtown corridor, benefits from a dedicated 25-space parking lot directly behind the structure, offering strong visibility and accessibility within the city’s main district. Positioned directly along Highway 97, the property provides exposure in Downtown Tonasket. The corridor sees an average daily traffic count of approximately 7,300 vehicles. The building is anchored by Subway. Tonasket is located in north-central Washington’s Okanogan County, roughly 45 minutes north of Omak and 20 minutes south of the Canadian border. The city serves as a retail and service hub for nearby agricultural communities and travelers along Highway 97. Surrounded by farmland and outdoor recreation, Tonasket’s small-town character and steady year-round activity create a stable environment for long-term investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tonasket
    County
    Okanogan
    State
    Washington
    Longitude
    -119.43968
    Latitude
    48.704552

    Nearby Similar for Sale

    • $950,000
      7,404 SF

      Fully Leased Retail Property

      Multi-tenant retail property in downtown Tonasket, Washington.
      422 S Whitcomb Ave, Tonasket, WA 98855
      View Details
    • $2,100,000
      1,000 SF

      Pine Creek Equestrian Facility

      114.7-acre equestrian facility with barns, arena, and irrigation.
      2034 Pine Creek Road, Tonasket, WA 98855
      View Details

    FAQs

    What type of property is this?
    Strip mall - Multi-tenant retail property in downtown Tonasket, Washington.
    Where is this strip mall located?
    The property is located at 422 S Whitcomb Ave Tonasket, WA.
    What is the asking price?
    The asking price for this property is $950,000.
    What are key features of this property?
    This property features: Fully leased multi‑tenant retail property providing immediate income.; Located directly along Highway 97 in Tonasket's downtown corridor, offering excellent exposure and accessibility.; Anchored by Subway, a national brand, ensuring consistent customer traffic.
    (509) 850-2805 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jesse Fox
    Jesse Fox
    Real Estate License ID: WA23158
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    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.

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