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    106 Lefevre St Medical Lake, WA 99022

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    For Lease
    Contact for pricing

    Prime Retail Space, High Visibility

    Lot size:
    1,680 SF

    Property Features for 106 Lefevre St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,680 SF
    Total Rate
    1499.4

    Building Details

    Year Built/Renovated
    1959/1974
    Buildings
    1

    Spaces For Lease

    at 106 Lefevre St, Medical Lake, WA 99022 Contact us
    Unit

    $10 /Mo

    Size
    1,680 SF
    Contact us

    We can help!

    Listing Contact
    Jay Carson
    Jay Carson

    Listing Agency: Kiemle Hagood Listing Agent: Jay Carson

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

    Learn more

    Property Insight Report

    Overview

    This exceptional 1,680 square foot commercial property, located at 106 N Lefevre St in Medical Lake, WA 99022, presents a unique investment opportunity. The building, constructed in 1959 and renovated in 1974, sits on a spacious 14,384 square foot lot and is ideally suited for a variety of retail uses, including a coffee shop or restaurant. The single-tenant building offers excellent visibility and is enhanced by a monument sign. The property's zoning allows for flexible use, making it an attractive option for entrepreneurs seeking a high-traffic location. The estimated monthly lease rate is $1,500, with estimated net, net, net (NNN) expenses of approximately $5.00 per square foot. The property consists of one building and includes two parcels, APN 14181.4804 & 14181.4816. This former gas and service station offers a blank canvas for a creative business owner to transform into a thriving enterprise. Its prime location and ample space make it a compelling investment opportunity in the growing Medical Lake market. The property's history as a gas station provides a unique character, while its recent renovations ensure a functional and modern space ready for immediate occupancy. Don't miss this chance to acquire a versatile commercial property with significant potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Hair Salon Food Market Grocery & Convenience Store Furniture & Home Goods Grocery & Convenience Store Cafe & Coffee Shop Wine and Liquor Store Daycare Center Acupuncture

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

    Location Insight

    • Map
    • Local Demand
    City
    Medical Lake
    County
    Spokane
    State
    Washington
    Longitude
    -117.6823276
    Latitude
    47.5731296

    Nearby Similar for Lease

    • $11 SF/Yr
      12,528 SF

      Medical Office Building, Medical Lake

      Prime Medical Office Space Available
      725 Stanley St, Medical Lake, WA 99022
      View Details
    • Contact for pricing
      50,000 SF

      Medical Lake Industrial Build-to-Suit

      Industrial property available for rent in Medical Lake, Washington.
      10219 Highway 2 W, Medical Lake, WA
      View Details

    FAQs

    What type of property is this?
    Restaurant - Prime Retail Space, High Visibility
    Where is this restaurant located?
    The property is located at 106 Lefevre St Medical Lake, WA.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: 1,680 SF commercial building on a 14,384 SF lot in Medical Lake, WA.; Built in 1959, renovated in 1974, suitable for retail (e.g., coffee shop, restaurant).; Excellent visibility, monument signage, and flexible zoning.
    (509) 862-5454 Call to check price and availability
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    Medical Lake, WA 99022
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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
    106 Lefevre St Medical Lake, WA 99022
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jay Carson
    Jay Carson
    (509) 862-5454 (509) 838-6541
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