704 1St AveRitzville, WA 99169

Property Details for 704 1St Ave

Year built

1947

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.79 AC

Property size (Sq ft)

1,500 SF

Property type

Auto shops

APN

1-935-23-056-4801

APU

1935230564801

Description

This expansive commercial property, located at 704 W 1st Avenue in Ritzville, Washington, presents a significant investment opportunity. Situated on five contiguous lots, this substantial building offers considerable versatility and high potential for a variety of commercial uses. Currently configured and utilized as a contracting base and swap meet venue, the property's adaptability allows for a wide range of future applications. Its strategic location next to a grocery store ensures high visibility and convenient access for customers and employees. The building's size (exact square footage not provided) provides ample space for expansion or subdivision, catering to diverse business needs. The five-lot configuration offers significant potential for future development or expansion of existing operations. This property is priced at $500,000 and represents a rare chance to acquire a substantial commercial asset in a thriving community. Further details regarding the building's specifications and layout are available upon request. Serious inquiries only. This is a unique opportunity to acquire a substantial commercial property in a prime location. Don't miss out on this exceptional investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $449,306

  6.5%

  $414,744

  7%

  $385,119

• Comparable approach

  Method

  Valuation

  Relative Method

  $805,934

  Geo Method

  $805,934

• Alternative Use

  Use

  Valuation

  Residential

  $349,852

  Hospitality

  $320,463

  Educational

  $266,621

  Medical

  $275,791

  Retail

  $414,744

Location Insight

City

Ritzville

County

Adams

State

Washington

Latitude

47.1222

Longitude

-118.383

CBSA code

36830

CBSA name

OTHELLO, WA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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