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    151 1St Ave Colville, WA 99114

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    151 1St Ave Colville, WA 99114

    View on Map
    • Drive through restaurants
    • 19,800 SF
    • 0.21 lot acres
    For Sale
    $699,000
    View Listing →
    Historical Commercial Building in Colville For Sale
    $699,000
    19,800 SF

    Historical Commercial Building in Colville

    Impressive 19,800 SF mixed-use building with multiple rental spaces.

    151 1ST AVE, Colville, WA 99114
    View Listing
    Property ID
    US90-2038525
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Cowboy's n Angel's / Bar & Pub
    • Northern Dance Theatre / Training Center
    • Cafe' Italiano / Restaurant

    Property Details for 151 1St Ave

    Year built
    1911
    Lot size
    0.21 lot acres
    Property size
    19,800 SF
    Property type
    Drive through restaurants
    APN
    10600
    APU
    10600

    Description

    This impressive three-story commercial building, located at 151 W 1st Ave in Colville, WA, offers a unique investment opportunity. Boasting over 20,800 square feet on a 0.6-acre lot, the property is currently generating income from three established tenants: an Italian restaurant, a dance studio, and a bar. Each tenant pays a monthly rent of $1,000, providing a substantial monthly cash flow. Additional rentable space is available, presenting significant potential for increased revenue. The building's rich history adds to its character and appeal. The owner currently covers annual insurance costs (estimated at $5,000), electricity and gas for the studio and vacant floor space (estimated $60-$300 monthly), and water and sewer (estimated $300 monthly) for all three tenants. Tenants are responsible for their own garbage disposal. The restaurant and bar have separate utility meters. This property presents a rare chance to acquire a well-situated, income-producing commercial building with considerable upside potential. Owner financing options may be available. The building's size and versatile layout make it suitable for a variety of commercial uses, offering flexibility for future development and tenant diversification. Its prime location in Colville ensures high visibility and accessibility. This is an exceptional opportunity for a savvy investor seeking a strong return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Colville
    County
    Stevens
    State
    Washington
    Longitude
    -117.907
    Latitude
    48.5441
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, 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
    $3,884
    $45,000
    $515,704
    $560,704
    -
    $45,000
    $515,704
    $560,704

    Comparable in this City

    • Value Estimation
      $1,615,000
      32,092 SF

      980 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 32,092 SF
      980 Main St, Colville, WA 99114-2533
      View Details
    • Value Estimation by Request
      3,600 SF

      151 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,600 SF
      151 Main St, Colville, WA 99114-2305
      View Details
    • Value Estimation by Request
      3,300 SF

      153 2nd Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,300 SF
      153 2nd Ave, Colville, WA 99114-2301
      View Details
    • Value Estimation
      $1,975,000
      45,433 SF

      391 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 45,433 SF
      391 Main St, Colville, WA 99114-2309
      View Details
    • Value Estimation by Request
      1,492 SF

      202 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,492 SF
      202 Main St, Colville, WA 99114-2308
      View Details
    • Value Estimation by Request
      1,992 SF

      1145 Main St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,992 SF
      1145 Main St, Colville, WA 99114-9503
      View Details

    Similar Nearby for Sale

    • $699,000
      19,800 SF

      Historical Commercial Building in Colville

      Impressive 19,800 SF mixed-use building with multiple rental spaces.
      151 1St Ave, Colville, WA 99114
      View Details
    • New
      $249,000
      2,389 SF

      Downtown Colville Commercial Building

      Commercial building in downtown Colville with business opportunity.
      153 Wynne St, Colville, WA 99114
      View Details
    • New
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      2,078 SF

      Main Street Commercial Space

      2,190 SF commercial space in historic downtown Colville.
      130 Main St, Colville, WA 99114
      View Details
    • New
      $219,000
      2,389 SF

      Downtown Colville Commercial Building

      Downtown Colville building with shop/garage and alley access.
      153 Wynne St, Colville, WA 99114
      View Details
    • Contact for pricing

      Grocery Outlet Investment Opportunity

      Grocery Outlet property in Colville, Washington with lease extension.
      980 S Main St, Colville, WA 99114
      View Details
    • $355,000
      14.04 Acres

      Colville Acreage with Development Potential

      14.04 acres suitable for residential or multi-family development.
      2XX Hwy 395 Hwy N, Colville, WA 99114
      View Details
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    Colville, WA 99114
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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.

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    151 1St Ave, Colville, WA, 99114

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