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    218 Main Ave Soap Lake, WA 98851

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    For Lease
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    Established Italian-Brazilian eatery, high profitability.

    Lot size:
    1,450 SF

    Property Features for 218 Main Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,450 SF

    Spaces For Lease

    at 218 Main Ave, Soap Lake, WA 98851 Contact us

    We can help!

    Listing Contact
    Raymond Gravelle
    Raymond Gravelle

    Listing Agency: Realty Executives Listing Agent: Raymond Gravelle

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional restaurant opportunity in Soap Lake, WA presents a unique chance to acquire a thriving culinary landmark. Located at 218 Main Ave E, this free-standing, 1,450 square foot building boasts an assignable NNN lease with favorable terms. The property includes four on-site parking spaces, plus ample street parking. The restaurant features a custom-made wood-fired oven, an outdoor patio, and all equipment is included in the sale. Known for its Italian-Brazilian fusion cuisine, including exquisite pizzas and steaks, the business enjoys a loyal customer base and has generated gross sales exceeding $650,000 in 2023, with a remarkable 45% profitability. Significant growth potential exists due to currently limited operating hours and the absence of a takeout service (2020 sales were $375,000). A 1,200+ square foot commissary is conveniently located across the street on Highway 17. The property is zoned commercial (APN: 080482000, Grant County) and has been successfully operating since 2018. The current owner is considering a silent partnership arrangement. Detailed financial information is available upon execution of a non-disclosure agreement. This is a truly turnkey operation in a popular tourist destination.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Real Estate Agency Restaurant Law Firm Auto Repair Shop Hair Salon Gym & Fitness Center Nail Salon Spa & Massage Center Skin Care Clinic Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Soap Lake
    County
    Grant
    State
    Washington
    Longitude
    -119.4866932
    Latitude
    47.3895576

    FAQs

    What type of property is this?
    Restaurant - Established Italian-Brazilian eatery, high profitability.
    Where is this restaurant located?
    The property is located at 218 Main Ave Soap Lake, WA.
    What are key features of this property?
    This property features: Thriving Italian-Brazilian fusion restaurant in Soap Lake, WA, generating over $650,000 in gross sales in 2023 with 45% profitability.; Turnkey operation including all equipment, inventory, goodwill, and beer & wine license; asking price $1,300,000.; 1,450 sq ft free-standing building with four on-site parking spaces and ample street parking; located at 218 Main Ave E.
    (509) 764-8200 Call to check price and availability
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    218 Main Ave Soap Lake, WA 98851
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    Soap Lake, WA 98851
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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.

    More about this property
    218 Main Ave Soap Lake, WA 98851
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Raymond Gravelle
    Raymond Gravelle
    Real Estate License ID: 104264
    (509) 764-8200 (509) 498-2055 (509) 771-0027
    Learn more
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