980 Main StColville, WA 99114

Property Details for 980 Main St

Year built

1980

Lot size

1.16 AC

Property size (Sq ft)

32,092 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

118800

APU

118800

Description

This fee-simple retail property in Colville, WA, offers a compelling investment opportunity. The 2.27-acre site houses a Grocery Outlet, a well-established, high-growth retailer, under a 15-year lease (expiring March 1, 2033) with 8.3 years remaining. The lease includes 10.4% rental increases every five years, ensuring consistent NOI growth and inflation protection. The property boasts 91 parking spaces and benefits from excellent visibility and access on S. Main Street, a major retail thoroughfare with 12,500 vehicles per day. The strong tenant, Grocery Outlet, Inc., is part of a network of over 480 stores, 74 of which are in Washington. The property's location provides access to a substantial consumer base, including residents of numerous single-family homes and the Spokane Community College Colville Campus. Seasonal tourism related to the nearby Colville National Forest further enhances the property's appeal. The 5-mile trade area has over 8,400 residents and 5,500 employees, with an average household income of $82,115. The property features a C-3 (General Commercial) zoning designation and was built in 2017. The asking price is $4,659,000, representing a 6.50% cap rate with a current NOI of $302,854. The property includes an additional 4,174 square feet of vacant space. APN: 0118800, 0119326, 0119325. This is a corporate-guaranteed investment with significant upside potential.

Location Insight

City

Colville

County

Stevens

State

Washington

Latitude

48.5358

Longitude

-117.906

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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