217 Elder St Moses Lake, WA 98837-1731
This exceptional mixed-use property, located at 217 N Elder St in Moses Lake, Washington, presents a unique investment opportunity. Priced at $1,750,000, this single-story building sits on a substantial 21,000 square foot lot (APN: 111154000) and boasts a highly desirable location—just one block from the bustling "5 Corner" intersection, arguably the busiest in Moses Lake. Currently operating as the well-established Porterhouse Restaurant, this turnkey business offers immediate income potential. The property features a recently updated, fully equipped kitchen, complete with walk-in cooler and freezer, ensuring operational efficiency. Outdoor patio seating adds to the restaurant's appeal and enhances its capacity. The ample parking available further contributes to the property's attractiveness. This is a rare chance to acquire an iconic local establishment with significant potential for growth and profitability. A complete list of equipment and recent updates is available upon request. This property is zoned for mixed use, offering flexibility for future development or expansion. Don't miss this opportunity to own a piece of Moses Lake's vibrant culinary scene.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.