Auto Shop with Overhead
For Sale
$849,000
111 W First St, Deer Park, WA 99006
Commercial Sale, Deer Park, WA
Property Size5,820 SF
Lot Size0.72 Acres
Price / SF$145.88
Days on Market196
Property Features for 111 W First St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
DC
Parking
11
Subdivision
West Addition to Deer Park
Lot features
Fenced Yard, Level, Corner Lot, Oversized Lot
High school
Deer Park
Elementary school district
Deer Park
Directions
From Crawford St in Deer Park go north on North Ave, then right on First St.
Standard status
Active
APN
28031.2217
Size
5,820 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Annual Amount
5123
Utilities
Heating system
Natural Gas, Electric (Heating)
Amenities
reception area
bathroom with shower
storage sheds
14-foot overhead door
partial fencing
Building Details
Year built
2004
Floors in Building
1
Building materials
Steel Frame
Roof type
Metal
Listing Agency:
Real Estate Marketplace NW,Inc
(509) 276-5445
Listed By:
Jim Palmer Jr. · License #2775
(509) 953-1666
Added: Feb 20
Changed: Aug 31
Last Checked: Sep 4 at 7:06AM
MLS# 202612451
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5,820-square-foot auto shop property includes three primary buildings, office space, shop areas, and two storage sheds. The office has a reception area and a bathroom with a shower, while one of the main buildings includes a 14-foot overhead door. Steel-frame construction, a metal roof, and a combination of natural gas and electric heating support the existing improvements. Built in 2004, the property is situated on 0.72 acres and includes partial fencing and additional parking.
The corner-lot property is located at 111 W First St in Deer Park, Washington, next to Les Schwab. DC zoning and the existing automotive-oriented configuration provide a practical setting for an auto shop or related commercial operation.
The corner-lot property is located at 111 W First St in Deer Park, Washington, next to Les Schwab. DC zoning and the existing automotive-oriented configuration provide a practical setting for an auto shop or related commercial operation.
Key Highlights
- 5,820 square feet of improvements on 0.72 acres
- Three main buildings plus two storage sheds
- One building includes a 14‑foot overhead door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$63,963
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,279,260
$1.3M
Cap Rate 7%
$913,757
$913.8K
Cap Rate 9%
$710,700
$710.7K
Market Conditions
NOI Build-Up for 5,820 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$95.7K $16.44/SF
− Vacancy
−$4.3K −$0.74/SF
EGI
$91.4K $15.70/SF
− OpEx
−$27.4K −$4.71/SF
NOI
$64.0K $10.99/SF
Area
Spokane County, WA
Vacancy
4.50%
Lease Rate
$16.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,279,260
Cap Rate 7%
$913,757
Cap Rate 9%
$710,700
Alternative Uses
Best Use
Retail
$913.8K
$799.5K – $1.07M
NOI $63,963 @ 7.0% cap · market cap 7.53%
Second Best
Flex RnD
$484.4K
$423.9K – $565.2K
NOI $33,911 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,139 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
421
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99006, WA
13,711
Population
5,287
Households
2.6
Avg Household Size
43
Median Age
16%
College-Educated
94%
High-School Grad
164.1 sq mi
ZIP Area
84
Density / Sq Mi
$65,375
Median Household Income
$41,198
Median Earnings
$970
Median Rent
$366,600
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Agri-Service — 603 S Fir Ave, Deer Park, WA 99006
- Deer Park Auto Body — 412 W Crawford St, Deer Park, WA 99006
- Precious Metal Collision Center & Auto Body — 111 W 1st St, Deer Park, WA 99006
- Deer Park Diesel — 122 w crawford st, deer park, wa 99006
- Sculley's Lube & Alignment Center — 33 W Crawford St, Deer Park, WA 99006
Frequently Asked Questions
What type of property is this?
Auto shop - Three buildings provide office, shop, and storage areas on a corner lot with additional parking.
Where is this auto shop located?
The property is located at 111 W First St Deer Park, WA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: 5,820 square feet of improvements on 0.72 acres; Three main buildings plus two storage sheds; One building includes a 14‑foot overhead door
