$2,500,000
Est. $12,853/mo203 2nd Avenue S, Okanogan, WA 98840
• Listed 2026-06-18•43 days on market
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Rare investment opportunity in the heart of Okanogan. The historic Blackwell Building (built in 1918) is a fully occupied cornerstone of a classic "Main Street" footprint. Beautifully remodeled in 2007, this approx. 40,000SF architectural gem features a timeless exterior, strong sidewalk presence, vaulted ceilings, skylights, Douglas Fir beams, chandeliers, exposed brick and designated 11,713SF parking lot—a premium amenity for downtown properties. Located in the county seat, the versatile layout includes 7,236 SF of main-level retail/office storefronts - currently occupied by a real estate brokerage, land trust, law firm, and wellness business. The building is well-positioned to capture traffic along the Hwy 215 business loop. The upper two levels have 16 residential apartments currently rented month-to-month. Value-add potential includes 8,359 SF of vacant basement space that could be used for storage or remodeled for office expansion. Equipped with elevator service accessing all floors, it blends infrastructure with early-1900’s charm. The exterior doubles as a public canvas featuring large-scale historic murals from the Frank Matsura Tour that attract visitors. Ideal for niche retail, craft breweries, or farm-to-table dining designed to capture regional travelers. Also included are two parking lots totaling 10,590SF that are leased to the Okanogan County Transit Authority. This historic landmark is a rare, portfolio piece with true repositioning and value-add potential.
Listed by John Gasper • Windermere RE/Lake Chelan
Listing updated: June 18, 2026 at 08:26am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2537416
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203 2nd Avenue S, Okanogan, WA 98840
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Okanogan is a buyer's market.
Inventory is rising and homes are sitting longer. Buyers have room to negotiate.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells for about 4% below list price.
Time on market: The average home goes pending in around 45 days.
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Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Jul 2026
