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105 E Steuben 105 Steuben st 7,500 SF 100% Leased Retail Building Bingen, WA 98605 $875,000 ($116.67/SF) 7.32% Cap Rate
Investment Highlights
- Prominent corner
- Simple design and durable materials create a blank slate for many configurations and uses
- Easy access to both levels
- Lower level offers strong upside potential
Executive Summary
-Prominent corner commercial building Downtown Bingen
-High visibility corner on HWY 14
-Turn key restaurant with 100+ seats
-Large lower level ready for multiple uses
-Ample on-site parking & alley access
-Flexible commercial zoning
The building is approximately 4,000 SF of main-level commercial space plus a nearly full lower level that adds substantial functional utility. The main level is currently configured as a restaurant with a full kitchen, bar, and seating area, and includes furniture, fixtures, and equipment.
It was built in 1960 using concrete block construction, with a concrete floor on both levels. Plumbing and electrical have been recently upgraded. The membrane roof was installed in 2018. Its rectangular footprint and durable materials make it well suited for a variety of commercial uses, including restaurant, retail, showroom, fitness, studio, service, office, or other business concepts. LOTS of power here. New roof in 2018.
The unfinished lower level offers significant value as flex, storage, workshop, or back-of-house space. The approximately 12-foot ceiling heights, alley access, and garage-door/loading, plumbing and electrical, expand options for multiple uses.
-High visibility corner on HWY 14
-Turn key restaurant with 100+ seats
-Large lower level ready for multiple uses
-Ample on-site parking & alley access
-Flexible commercial zoning
The building is approximately 4,000 SF of main-level commercial space plus a nearly full lower level that adds substantial functional utility. The main level is currently configured as a restaurant with a full kitchen, bar, and seating area, and includes furniture, fixtures, and equipment.
It was built in 1960 using concrete block construction, with a concrete floor on both levels. Plumbing and electrical have been recently upgraded. The membrane roof was installed in 2018. Its rectangular footprint and durable materials make it well suited for a variety of commercial uses, including restaurant, retail, showroom, fitness, studio, service, office, or other business concepts. LOTS of power here. New roof in 2018.
The unfinished lower level offers significant value as flex, storage, workshop, or back-of-house space. The approximately 12-foot ceiling heights, alley access, and garage-door/loading, plumbing and electrical, expand options for multiple uses.
Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
7,500 SF
Year Built/Renovated
1960/2000
Price
$875,000
Price Per SF
$116.67
Cap Rate
7.32%
NOI
$64,050
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.01
Lot Size
0.17 AC
Zoning
C - The C district is intended to provide an area for the existing and potential wholesale and retail commercial activities associated with the central bu
Parking
7 Spaces (0.93 Spaces per 1,000 SF Leased)
Amenities
- Restaurant
- Signage
- Tenant Controlled HVAC
- Storage Space
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
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105 E Steuben | 105 Steuben st
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