117 Howard StSpokane, WA 99201
- Turn key restaurants
- 1,000 SF
Property Details for 117 Howard St
- Year built
- 1890
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.03 AC
- Property size (Sq ft)
- 1,000 SF
- Property type
- Turn key restaurants
- APN
- 35184.2501
- APU
- 351842501
Description
This fully renovated, three-story mixed-use building in Spokane's central business district presents a unique investment opportunity. Boasting 5,520 square feet, the property includes a ground-floor retail space currently leased to Soulful Soups (lease expiring November 30, 2025), and two upper-level luxury apartments/VRBO suites, one with a king bed, murphy bed, and 1.5 bathrooms (currently owner-occupied), and the other with one bathroom, a golf simulator, and a steam room. Each apartment sleeps up to seven guests. The building also features a spacious 1,380 square foot basement storage area and a rooftop patio accessible from the second and third floors. All furniture is potentially included in the sale (contact for details). The property benefits from a 10-year property tax exemption extending through 2029, and seller financing may be available (contact for details). The asking price is $2,500,000 ($452.90 per square foot). The building was renovated in 2018 and is zoned for commercial use. This prime location offers breathtaking views and significant potential for rental income and appreciation. The property's APN is 35184.2501. This is a turn-key operation ready for a new owner.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $255,223
- 6.5%
- $235,590
- 7%
- $218,762
-
Comparable approach
- Method
- Valuation
- Relative Method
- $537,289
- Geo Method
- $537,289
-
Alternative Use
- Use
- Valuation
- Residential
- $198,729
- Hospitality
- $182,035
- Educational
- $151,451
- Medical
- $156,659
- Retail
- $235,590
Location Insight
- City
- Spokane
- County
- Spokane
- State
- Washington
- Latitude
- 47.6585
- Longitude
- -117.421
- CBSA code
- 44060
- CBSA name
- SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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- Please email our support team at [email protected] and they will add the team member.
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