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Property profile

218 Main Ave E Soap Lake, WA 98851

FOR LEASE
Turn key restaurants
Property ID
US90-0679985
1,350 SF 0.75 ac lot Built 2018
Entity Owned 10-yr Hold Absentee Owner Free & Clear

Property summary

AI-generated overview

This exceptional restaurant opportunity in Soap Lake, WA presents a unique chance to acquire a thriving culinary landmark. Located at 218 Main Ave E, this free-standing, 1,450 square foot building boasts an assignable NNN lease with favorable terms. The property includes four on-site parking spaces, plus ample street parking. The restaurant features a custom-made wood-fired oven, an outdoor patio, and all equipment is included in the sale. Known for its Italian-Brazilian fusion cuisine, including exquisite pizzas and steaks, the business enjoys a loyal customer base and has generated gross sales exceeding $650,000 in 2023, with a remarkable 45% profitability. Significant growth potential exists due to currently limited operating hours and the absence of a takeout service (2020 sales were $375,000). A 1,200+ square foot commissary is conveniently located across the street on Highway 17. The property is zoned commercial (APN: 080482000, Grant County) and has been successfully operating since 2018. The current owner is considering a silent partnership arrangement. Detailed financial information is available upon execution of a non-disclosure agreement. This is a truly turnkey operation in a popular tourist destination.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 2018
Total area 1,350 SF
Lot 0.75 ac (32,670 SF)
APN 80482000
UPID US90-0679985

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$320k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$335k

Owner & transaction history

since 2016
1 recorded transaction
2016
$150,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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