Live-Work Mixed-Use Office
654 W Main St Monroe, WA 98272
For Sale
Contact for pricing
Updated live-work property on a half-acre with office space, multiple rooms, and an on-site garage with plumbing.
Property Size3,074 SF
Lot Size0.46 Acres
Price / SF$305.77
Days on Market80
Property Features for 654 W Main St
General Information
- Standard status
- Active
- Size
- 3,074 SF
- Lot size
- 0.46 Acres
- Property subtype
- OFFICE
Listing Agency:
Windermere R.E./J.S.
(425) 356-9177
Listed By:
Debra Barger Smith
(425) 356-9177
Source:
Moodyscre
Added: May 8
Changed: Jul 25
Last Checked: Jul 26 at 1:45PM
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 Windermere R.E./J.S.
Investment Insights
Based on property information with market context.
This updated live-work mixed-use office building sits on approximately 0.46 acres and is configured to support both work and residential use. The main floor includes a wraparound covered porch, living and dining rooms, a bedroom, office, kitchen, and a family/conference room. Upstairs features a spacious suite with a 3/4 bath, walk-in closet, two bonus rooms, and a private deck. The lower level offers additional office or living space, a bathroom, bedroom, storage, and a mechanical room, with separate-entry basement access. An additional garage is approximately 768 square feet and includes plumbing and a separate room for flexible use.
The property is located at 654 W Main St in Monroe, WA 98272. The site is described as having flexible Multi-Use Neighborhood zoning, and the existing home has previously operated as offices for a private company with live-in external housing for more than 20 years. Updates called out include maple flooring, a remodeled kitchen with granite countertops, renovated bathrooms, an updated electrical panel, furnace, hot water tank, roof and gutters, paint, and decking.
Overall, the layout provides multiple room options and separate areas that can be adapted for combined live/work setups within the flexibility described for the zoning.
The property is located at 654 W Main St in Monroe, WA 98272. The site is described as having flexible Multi-Use Neighborhood zoning, and the existing home has previously operated as offices for a private company with live-in external housing for more than 20 years. Updates called out include maple flooring, a remodeled kitchen with granite countertops, renovated bathrooms, an updated electrical panel, furnace, hot water tank, roof and gutters, paint, and decking.
Overall, the layout provides multiple room options and separate areas that can be adapted for combined live/work setups within the flexibility described for the zoning.
Key Highlights
- 0.46‑acre live/work property with flexible Multi‑Use Neighborhood zoning allowing 4–7 dwelling units including the existing home
- Previously operated as private‑company offices for 20+ years with live‑in external housing
- Updated interior including maple flooring, remodeled kitchen with granite countertops, renovated bathrooms, and updated electrical panel
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.1k | $27.36 |
| − Vacancy | −$11.1k | −$3.61 |
| EGI | $73.0k | $23.75 |
| − OpEx | −$18.3k | −$5.94 |
| NOI | $54.8k | $17.81 |
3,074 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$782.2K
$684.4K – $912.5K
NOI $54,752 @ 7.0% cap · market cap 5.82%
Second Best
Mixed Use
$495.0K
$433.2K – $577.5K
NOI $34,652 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$857.3K
$750.1K – $1.00M
NOI $60,010 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Northwest Zoopath
Laboratory
FAQs
What type of property is this?
Live-work space - Updated live-work property on a half-acre with office space, multiple rooms, and an on-site garage with plumbing.
Where is this live-work space located?
The property is located at 654 W Main St Monroe, WA.
What is the asking price?
The asking price for this property is $939,950.
What are key features of this property?
This property features: 0.46‑acre live/work property with flexible Multi‑Use Neighborhood zoning allowing 4–7 dwelling units including the existing home; Previously operated as private‑company offices for 20+ years with live‑in external housing; Updated interior including maple flooring, remodeled kitchen with granite countertops, renovated bathrooms, and updated electrical panel
