Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    120 Rock Island Rd East Wenatchee, WA 98802

    For Sale
    $1,199,000

    Iconic eatery, established 1954, fully renovated 2023.

    Property size:
    472 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional turnkey business opportunity presents the chance to acquire the well-established "Larry's Drive In" restaurant located at 120 Rock Island Rd, East Wenatchee, WA 98802. The property, encompassing 0.26 acres (11,326 sq ft), includes a 472 sq ft building that underwent a complete renovation in 2023. The restaurant boasts a strong history, operating successfully for nearly 70 years, and currently enjoys 100% occupancy. The sale includes both land parcels. The property is zoned for Business, Commercial, and Retail use, and features a newly added milkshake machine and expanded space, contributing to increased profitability. Financial highlights include an asking price of $1,199,000, a net operating income (NOI) of $119,300, and a 9.95% cap rate. The original list price was $1,375,000. This is a rare opportunity to own a thriving, iconic restaurant with significant potential for continued growth in a desirable location. The property's APN is 07300100401,90500100503. The lease type is gross, and the tenancy is single. The building was originally constructed in 1954.

    Property Features for 120 Rock Island Rd

    General Information

    Property type
    Restaurants
    Square Feet
    472 SF
    Lot Size
    11,326 SF

    Building Details

    Year Built/Renovated
    1954/2023

    HighLights

    • Asking Price: $1,375,000
    • Lot Size: 11,326 square feet (0.26 acres)
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    East Wenatchee
    County
    Douglas
    State
    Washington
    Longitude
    -120.2887227
    Latitude
    47.4032556

    Nearby Similar for Sale

    • $2,185,000

      East Wenatchee Retail Investment Opportunity

      12,000+ SF retail building in a vibrant commercial hub.
      300 Valley Mall Pkwy, East Wenatchee, WA 98802
      View Details
    • $419,900
      1,836 SF

      Spacious Single-Level Home with Upgrades

      Well-maintained home with fenced lot, deck, and RV parking.
      68 24Th St NE, East Wenatchee, WA 98802
      View Details
    • $389,000
      1,344 SF

      Gated Property with Two Suites

      Gated, updated home with two master suites and room to expand.
      715 10Th St NE, East Wenatchee, WA 98802
      View Details
    • $1,415,250

      East Wenatchee Industrial Property

      Industrial property available for sale in East Wenatchee, Washington.
      5541 Nelpar Dr, East Wenatchee, WA 98802
      View Details
    • $3,750,000

      East Wenatchee Industrial Property

      Industrial property available for sale in East Wenatchee, Washington.
      5545 Nelpar Dr, East Wenatchee, WA 98802
      View Details
    • $2,988,514
      46,488 SF

      East Wenatchee Retail Investment

      High-yield, Net Lease Storefront, strong tenant.
      611 Valley Mall Pkwy, East Wenatchee, WA 98802
      View Details

    FAQs

    What type of property is this?
    Restaurant - Iconic eatery, established 1954, fully renovated 2023.
    Where is this restaurant located?
    The property is located at 120 Rock Island Rd East Wenatchee, WA.
    What is the asking price?
    The asking price for this property is $1,199,000.
    What are key features of this property?
    This property features: Asking Price: $1,375,000; Lot Size: 11,326 square feet (0.26 acres);
    Request Owner's contact information
    120 Rock Island Rd East Wenatchee, WA 98802
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Rock Island Rd
    East Wenatchee, WA 98802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    120 Rock Island Rd East Wenatchee, WA 98802
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.