Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Granite Ave Granite Falls, WA 98252-8441

    • Grocery and convenience stores
    • 16,080 SF
    • 3.41 lot acres
    OFF-MARKET
    Last Sale
    Jun 14, 2022
    $5,500,000
    Value Estimations
    $5,055,000
    Show details
    Cap Rate Potential
    4.2%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US90-0811612
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Julie L. Musladin, RPH / Pharmacy
    • John G. Gordon, RPh / Pharmacy
    • S.H Home Staging & Design / Store / Interior Designer
    • Granite Falls IGA / Grocery Store / Supermarket

    Property Details for 115 Granite Ave

    Year built
    1993
    Construction
    WOOD
    Lot size
    3.41 lot acres
    Property size
    16,080 SF
    Zone code
    COMMUNITY BUSINESS
    Property type
    Grocery and convenience stores
    APN
    30071800315200
    APU
    30071800315200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,455,000
      ML approach
      $6,015,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,775,000
      6.5%
      $3,485,000
      7%
      $3,235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,236,000
      Market price range: $2.41M - $7.86M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $4,680,000
      Current use
      RESTAURANT
      $8,335,000
      Change: +78% Conversion: Easy
      AUTO REPAIR, GARAGE
      $6,975,000
      Change: +49% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $6,650,000
      Change: +42% Conversion: Difficult
      MEDICAL BUILDING
      $6,280,000
      Change: +34% Conversion: Difficult
      OFFICE BUILDING
      $5,735,000
      Change: +22% Conversion: Easy
      COMMERCIAL (GENERAL)
      $4,875,000
      Change: +4% Conversion: Easy
      WAREHOUSE, STORAGE
      $4,645,000
      Change: -1% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Granite Falls
    County
    Snohomish
    State
    Washington
    Longitude
    -121.968
    Latitude
    48.0845
    CBSA code
    42660
    CBSA name
    SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $34,216
    $1,137,100
    $3,061,500
    $4,198,600
    -
    $1,137,100
    $3,061,500
    $4,198,600

    Comparable in this City

    • Value Estimation
      $315,000
      7,380 SF

      111 Stanley St

      GROCERY, SUPERMARKET • 7,380 SF
      111 Stanley St, Granite Falls, WA 98252-8493
      View Details
    • Value Estimation
      $90,000
      2,900 SF

      105 Granite Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,900 SF
      105 Granite Ave, Granite Falls, WA 98252
      View Details
    • Value Estimation
      $955,000
      5,912 SF

      110 Granite Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,912 SF
      110 Granite Ave, Granite Falls, WA 98252
      View Details
    • Value Estimation
      $320,000
      2,160 SF

      106 Granite Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,160 SF
      106 Granite Ave, Granite Falls, WA 98252-8416
      View Details
    • Value Estimation
      $285,000
      1,056 SF

      107 Granite Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,056 SF
      107 Granite Ave, Granite Falls, WA 98252
      View Details
    • Value Estimation
      $250,000
      4,200 SF

      409 Stanley St

      RETAIL STORES (PERSONAL SERVICES) • 4,200 SF
      409 Stanley St, Granite Falls, WA 98252-8631
      View Details

    Similar Nearby for Sale

    • $4,000,000
      17,272 SF

      Former Rite Aid For Sale

      Former Rite Aid in Granite Falls, WA available for purchase.
      608 W Stanley St, Granite Falls, WA 98252
      View Details
    • $949,950
      4,216 SF

      Granite Falls Commercial Space For Sale

      4,216 SF commercial space with prime street frontage.
      101 S Granite Ave, Granite Falls, WA 98252
      View Details
    • $649,950

      Granite Falls Home on Acreage

      Custom home on 1.45 acres with commercial zoning.
      901 W Stanley St, Granite Falls, WA 98252
      View Details
    • Contact for pricing

      Granite Falls Acreage with Mountain Views

      40+ acres near town with panoramic mountain views.
      Menzel Lake Rd, Granite Falls, WA 98252
      View Details
    • $2,285,000

      Industrial Building on Large Lot

      Free-standing industrial building with heavy power and potential division.
      10913 Mountain Loop Hwy, Granite Falls, WA 98252
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      1,360 SF

      Turn-Key Restaurant Space Available

      Restaurant space for lease with fully operational kitchen.
      107 S Granite Ave, Granite Falls, WA 98252
      View Details
    • $10 SF/Yr
      3,104 SF

      Granite Falls Stand Alone Office

      Stand alone office building in Granite Fall's Downtown Business District.
      403 S Granite Ave, Granite Falls, WA 98252
      View Details

    Property Visit Statistics

    • Visits by month
      39.0k
    • Visitors by month
      16.3k
    • Avg Time on site
      16 min
    Request Owner's contact information
    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.
    115 Granite Ave
    Granite Falls, WA 98252-8441
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    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.