4020 57th Ave Spokane, WA 99223
- Drive through restaurants
- 407 SF
- 0.40 lot acres
Oct 18, 2021
Current Use by Public Records
- Bloom Coffee Co. / Coffee Shop
Property Details for 4020 57th Ave
- Year built
- 2022
- Lot size
- 0.40 lot acres
- Property size
- 407 SF
- Property type
- Drive through restaurants
- APN
- 34034.0210
- APU
- 340340210
Description
This exceptional Class A, 900 sq ft coffee stand, located at 4020 E 57th Ave, Spokane, WA 99223, is offered for sale at $385,000. Built in 2022, this single-story building boasts a 10-year gross lease (commencing October 1, 2022, with 7.9 years remaining) and includes all furniture, fixtures, and equipment, including a brand-new Franke automatic espresso machine. The property features five parking spaces and benefits from a prime location in a high-traffic area, serving as the sole coffee stand in the immediate vicinity. Currently operating six days a week (5 AM to 5 PM), the business generates $430,000 in annual sales and a current NOI of $50,000, with a pro-forma NOI of $88,000 and a pro-forma cap rate of 22.86%. The property is situated in a rapidly growing area with new housing developments and a new YMCA under construction nearby. The ground lease expires October 1, 2032, with rent bumps tied to the CPI. Seller financing is available. This is a unique opportunity to acquire a thriving, established business with significant growth potential in a high-demand market. The property is zoned commercial and has one lease option remaining. The 100% occupancy began September 1, 2022.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $305,000
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Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.35
- Latitude
- 47.6018
- CBSA code
- 44060
- CBSA name
- SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
