405 West MAIN STREET
47 years of local ownership. 100% occupancy entire time & rent hasn't been raised in 30+ years!
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Asking Price: $165,000
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Address
405 W Main St, Coulee City, WA 99115
Show on MapDate Added
Jun 6, 2024
Days on Market
292 days
Time Since Last Update
161 days
Details
Property TypeMixed Use, Office, Retail
SubtypeGrocery Store, Storefront, Traditional Office
TenancyMulti
Number of Tenants4
Square Footage5,016
Cap Rate6.50%
Occupancy100%
Year Renovated1985
Stories2
Lot Size (sq ft)3,872
APN070276000
Marketing Description
Invest in small town America w/ rare opportunity to own a piece of history, fully remodeled 1985. Strategic location on Main Street, this iconic building in the heart of this lakeside town ~ a popular Vacation Destination at Banks Lake. The Coulee Community adores this building w/ 47 years of local ownership. 100% occupancy entire time & rent hasn't been raised in 30+ years! Fitness Center upstairs *equipmt included* earned upwards of $1500/mo, but Owner cut back due to retirement (curr. rent @ $300/mo = easy to increase). Over 100+ years of life celebrated here; from a movie theatre, bakery/deli, grocery, retail, library, & more. Roof is 12 years new. Electricity in Grant County is among the least expensive power cost in the State of WA.
Investment Highlights
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Fully remodeled plumbing, electrical, walls, etc in 1985 and new roof 12 years ago
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47 years of ownership with 100% occupancy entire time!
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Iconic building, beloved by the entire Community
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Popular Vacation Destination of Banks Lake just a stone’s throw
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Fitness Center equipment can stay and monthly income in past has been upwards of $1500 just from this space
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Historic use has ranged from movie theatre, to bakery, deli, grocery, library, insurance office, massage clinic and more!
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