151 1St AveColville, WA 99114

Property Details for 151 1St Ave

Year built

1911

Lot size

0.21 AC

Property size (Sq ft)

19,800 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

10600

APU

10600

Description

This impressive three-story commercial building, located at 151 W 1st Ave in Colville, WA, offers a unique investment opportunity. Boasting over 20,800 square feet on a 0.6-acre lot, the property is currently generating income from three established tenants: an Italian restaurant, a dance studio, and a bar. Each tenant pays a monthly rent of $1,000, providing a substantial monthly cash flow. Additional rentable space is available, presenting significant potential for increased revenue. The building's rich history adds to its character and appeal. The owner currently covers annual insurance costs (estimated at $5,000), electricity and gas for the studio and vacant floor space (estimated $60-$300 monthly), and water and sewer (estimated $300 monthly) for all three tenants. Tenants are responsible for their own garbage disposal. The restaurant and bar have separate utility meters. This property presents a rare chance to acquire a well-situated, income-producing commercial building with considerable upside potential. Owner financing options may be available. The building's size and versatile layout make it suitable for a variety of commercial uses, offering flexibility for future development and tenant diversification. Its prime location in Colville ensures high visibility and accessibility. This is an exceptional opportunity for a savvy investor seeking a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $5,693,904

  6.5%

  $5,255,912

  7%

  $4,880,490

• Comparable approach

  Method

  Valuation

  Relative Method

  $10,638,326

  Geo Method

  $10,638,326

• Alternative Use

  Use

  Valuation

  Residential

  $4,433,558

  Hospitality

  $4,061,116

  Educational

  $3,378,800

  Medical

  $3,495,003

  Retail

  $5,255,912

Location Insight

City

Colville

County

Stevens

State

Washington

Latitude

48.5441

Longitude

-117.907

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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