Downtown Office/Retail
For Sale
$350,000
D-809 W Main St, Monroe, WA 98272
Remodeled office/retail condo with forced-air heating and cooling, leased within an HOA-managed downtown building.
Property Size1,100 SF
Price / SF$318.18
Days on Market52
Property Features for D-809 W Main St
General Information
Standard status
Active
Size
1,100 SF
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$2,156
Amenities
laminate hardwood flooring
forced-air heating and cooling
Building Details
Construction
brick and concrete
Listing Agency:
Equality Realty
Listed By:
Karim Ali
(206) 420-7490
Source:
Exprealty
Added: Jul 24
Changed: Aug 20
Last Checked: Sep 12 at 11:17AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Equality Realty
Investment Insights
Based on property information with market context.
This office/retail condo is located within a downtown building and totals approximately 1,100 SF across Units D and G. The interior has been remodeled with laminate hardwood flooring, and the property includes forced-air heating and cooling. The building exterior features brick and concrete construction. Public water and sewer are available, along with electric and natural gas.
The property is situated just off Main Street in downtown Monroe, next to Frank Wagner Elementary. HOA responsibilities include building exterior, grounds, and parking, and the HOA covers water, sewer, garbage, and building insurance.
The space is currently leased, offering an investor or buyer an income-producing commercial unit in an owner-managed condo building.
The property is situated just off Main Street in downtown Monroe, next to Frank Wagner Elementary. HOA responsibilities include building exterior, grounds, and parking, and the HOA covers water, sewer, garbage, and building insurance.
The space is currently leased, offering an investor or buyer an income-producing commercial unit in an owner-managed condo building.
Key Highlights
- Office/retail condo in downtown Monroe, just off Main Street next to Frank Wagner Elementary
- Approximately 1,100 SF across Units D and G with a remodeled interior
- Laminate hardwood flooring and brick/concrete exterior
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,592
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$391,840
$391.8K
Cap Rate 7%
$279,886
$279.9K
Cap Rate 9%
$217,689
$217.7K
Market Conditions
NOI Build-Up for 1,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.1K $27.36/SF
− Vacancy
−$4.0K −$3.61/SF
EGI
$26.1K $23.75/SF
− OpEx
−$6.5K −$5.94/SF
NOI
$19.6K $17.81/SF
Area
Snohomish County, WA
Vacancy
13.20%
Lease Rate
$27.36 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$391,840
Cap Rate 7%
$279,886
Cap Rate 9%
$217,689
Alternative Uses
Best Use
Office B
$279.9K
$244.9K – $326.5K
NOI $19,592 @ 7.0% cap · market cap 5.60%
Second Best
Retail
$221.4K
$193.8K – $258.4K
NOI $15,501 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$306.8K
$268.4K – $357.9K
NOI $21,474 @ 7.0% cap · market cap 6.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,245
Businesses Nearby
Explore this area
Business Placement
Demographics for 98272, WA
31,127
Population
10,313
Households
3
Avg Household Size
38
Median Age
29%
College-Educated
92%
High-School Grad
106.3 sq mi
ZIP Area
293
Density / Sq Mi
$115,894
Median Household Income
$51,879
Median Earnings
$1,902
Median Rent
$638,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Remodeled office/retail condo with forced-air heating and cooling, leased within an HOA-managed downtown building.
Where is this office units located?
The property is located at D-809 W Main St Monroe, WA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Office/retail condo in downtown Monroe, just off Main Street next to Frank Wagner Elementary; Approximately 1,100 SF across Units D and G with a remodeled interior; Laminate hardwood flooring and brick/concrete exterior
