120 Rock Island RdEast Wenatchee, WA 98802

Property Details for 120 Rock Island Rd

Year built

1954

Construction

WOOD

Lot size

0.15 AC

Property size (Sq ft)

258 SF

Zone code

2

Property type

Drive through restaurants

APN

7300100401

APU

7300100401

Description

This exceptional turnkey business opportunity presents the chance to acquire the well-established "Larry's Drive In" restaurant located at 120 Rock Island Rd, East Wenatchee, WA 98802. The property, encompassing 0.26 acres (11,326 sq ft), includes a 472 sq ft building that underwent a complete renovation in 2023. The restaurant boasts a strong history, operating successfully for nearly 70 years, and currently enjoys 100% occupancy. The sale includes both land parcels. The property is zoned for Business, Commercial, and Retail use, and features a newly added milkshake machine and expanded space, contributing to increased profitability. Financial highlights include an asking price of $1,199,000, a net operating income (NOI) of $119,300, and a 9.95% cap rate. The original list price was $1,375,000. This is a rare opportunity to own a thriving, iconic restaurant with significant potential for continued growth in a desirable location. The property's APN is 07300100401,90500100503. The lease type is gross, and the tenancy is single. The building was originally constructed in 1954.

• CAP approach

  CAP return

  Valuation

  6%

  $80,041

  6.5%

  $73,884

  7%

  $68,607

• Comparable approach

  Method

  Valuation

  Relative Method

  $167,495

  Geo Method

  $138,621

• Alternative Use

  Use

  Valuation

  Residential

  $62,324

  Hospitality

  $57,089

  Educational

  $47,497

  Medical

  $49,130

  Retail

  $73,884

Location Insight

City

East Wenatchee

County

Douglas

State

Washington

Latitude

47.4033

Longitude

-120.289

CBSA code

48300

CBSA name

WENATCHEE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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