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    4211 Westwood Ave Chattaroy, WA 99003

    Sponsored
    For Sale
    $899,000

    6,400 SF Multi-Tenant Retail Building

    Property size:
    6,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional investment opportunity in Chattaroy, WA, featuring a 6,400 square foot multi-tenant retail building situated on a generous 2.37-acre lot. Currently housing Whiskey Glasses Restaurant and Bar and Sienna Studio Salon, both under new five-year NNN leases with 3% annual rent increases, this property boasts a strong 100% occupancy rate and a current NOI of $61,800, translating to a 6.87% cap rate. The asking price is $899,000, or $140.47 per square foot. Built in 1982, the property benefits from a high-traffic location just off Highway 2 and features a large pylon sign for excellent visibility. Deed restrictions ensure no future development of convenience stores, gas stations, or coffee drive-thrus, protecting the long-term value of the investment. This is a rare opportunity to acquire a well-positioned, multi-tenant retail property with significant upside potential in a desirable location. The property's size and location offer considerable flexibility for future growth and development. The existing tenants provide a stable income stream, making this an attractive investment for both seasoned and new investors.

    Property Features for 4211 Westwood Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    6,400 SF
    Lot Size
    103,237 SF

    Building Details

    Year Built
    1982

    HighLights

    • Exceptional investment opportunity: 6,400 SF multi‑tenant retail building on 2.37 acres in Chattaroy, WA.
    • 100% occupancy with Whiskey Glasses & Sienna Studio under new 5‑year NNN leases (3% annual increases).
    • $899,000 asking price ($140.47/SF), $61,800 NOI (6.87% cap rate).
    • High‑traffic location off Highway 2 with large pylon sign; deed restrictions protect long‑term value.
    Property Profile Location Intelligence

    Current Use by Public Records

    Bars

    Suggested Use

    Restaurant Spa & Massage Auto Repair Shop Hair Salon Clothing Store Nail Salon Kitchen & Bath Bar & Pub Plumbing Service Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Chattaroy
    County
    Spokane
    State
    Washington
    Longitude
    -117.34974026
    Latitude
    47.91398411

    Nearby Comparable

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    Nearby Similar for Sale

    • $799,000
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    FAQs

    What type of property is this?
    Individual retail property - 6,400 SF Multi-Tenant Retail Building
    Where is this individual retail property located?
    The property is located at 4211 Westwood Ave Chattaroy, WA.
    What is the asking price?
    The asking price for this property is $899,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 6,400 SF multi-tenant retail building on 2.37 acres in Chattaroy, WA.; 100% occupancy with Whiskey Glasses & Sienna Studio under new 5-year NNN leases (3% annual increases).; $899,000 asking price ($140.47/SF), $61,800 NOI (6.87% cap rate).
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4211 Westwood Ave Chattaroy, WA 99003
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