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Property profile & analytics
OFF-MARKET Estimated value $1,360,000
Turn key restaurants

217 Elder St Moses Lake, WA 98837-1731

5,904 SF 0.08 ac lot Built 1955
Individually Owned 1-yr Hold Free & Clear
Property ID
US90-2514418
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1955
Total area 5,904 SF
Lot 0.08 ac (3,500 SF)
APN 111154000
UPID US90-2514418
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.52M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$1.36M
Owner & transaction history
Moses Lake Elks Lodge · 1 yrs held
Moses Lake Elks Lodge
since 2025
Last sale
$1.2M
6 recorded transactions
2025
$1.2M
2009
Price N/A
2009
$900,000
2007
$800,000
2005
$215,000
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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