1596 7Th StNewport, WA 99156

Property Details for 1596 7Th St

Year built

2003

Construction

FRAME

Lot size

0.77 AC

Property size (Sq ft)

3,644 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

453124530006

APU

453124530006

Description

This exceptional opportunity presents a thriving restaurant business and its accompanying real estate for sale in Newport, WA. The property boasts a 3,644 square foot building, featuring a banquet room, spacious dining area, and a fully equipped chef's kitchen. A sizable 1,100 square foot basement adds significant storage or expansion potential. Situated on a large 33,600 square foot lot, the property includes a newly paved and striped parking lot, ensuring ample customer parking. The location is highly visible, benefiting from 160 feet of frontage on Highway 2, at the entrance to Newport, providing excellent exposure to traffic traveling north from Spokane. This well-maintained property has undergone recent upgrades and features a 30-year successful business history, with the current owners operating in the same location for 20 years. Financial information is available upon request. The property's versatility allows for continued operation as a restaurant or presents a compelling redevelopment opportunity for a drive-thru restaurant, medical building, or office space. The asking price is $1,850,000, translating to $507.68 per square foot. The property is currently operating at 100% occupancy. This is a rare chance to acquire a turnkey business and prime real estate in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,091,514

  6.5%

  $1,007,551

  7%

  $935,583

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,957,882

  Geo Method

  $1,957,882

• Alternative Use

  Use

  Valuation

  Residential

  $849,907

  Hospitality

  $778,510

  Educational

  $647,712

  Medical

  $669,987

  Retail

  $1,007,551

Location Insight

City

Newport

County

Pend Oreille

State

Washington

Latitude

48.1758

Longitude

-117.063

Property Tax & Assessments

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