Flex Space with Drive-In
For Sale
$990,000
3626 E Trent Ave, Spokane, WA 99202
Commercial Sale, Spokane, WA
Property Size8,020 SF
Lot Size0.49 Acres
Price / SF$123.44
Days on Market299
Property Features for 3626 E Trent Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Basement
Partial
Lot features
Views, Fenced Yard, Level, Corner Lot, City Bus (w/in 6 blks)
View
City
Elementary school district
Spokane Dist 81
Directions
1 Block East of Freya on Trent.
Standard status
Active
Size
8,020 SF
Lot size
0.49 Acres
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Amenities
Active Security System
Building Details
Year built
1946
Building materials
Block, Wood Siding
Roof type
Flat
Listing Agency:
First Look Real Estate
(509) 928-3413
Listed By:
Ken Lewis · License #12833
(509) 981-7778
Added: Nov 11, 2025
Changed: Aug 19
Last Checked: Sep 6 at 5:06AM
MLS# 202526651
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 8,020-square-foot flex property occupies a 0.49-acre site and was built in 1946. The building combines block and wood siding construction with a flat roof, natural gas service, and hot-water heating. Three drive-in overhead doors support loading and vehicle access, while the interior includes showroom space suitable for retail use. An active security system is installed.
The property is located at 3626 E Trent Ave in Spokane, Washington, a few blocks from the new Trent Avenue interchange on the North/South Freeway. Access is available from Trent, Sycamore, and Boone. Industrial-Retail zoning accommodates the property’s combined flex, showroom, and commercial configuration.
The property is located at 3626 E Trent Ave in Spokane, Washington, a few blocks from the new Trent Avenue interchange on the North/South Freeway. Access is available from Trent, Sycamore, and Boone. Industrial-Retail zoning accommodates the property’s combined flex, showroom, and commercial configuration.
Key Highlights
- 8,020‑square‑foot flex property on a 0.49‑acre site
- Three drive‑in overhead doors
- Industrial‑Retail zoning with showroom space for retail use
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
$83,216
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
8.41%
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%
$1,664,320
$1.7M
Cap Rate 7%
$1,188,800
$1.2M
Cap Rate 9%
$924,622
$924.6K
Market Conditions
NOI Build-Up for 8,020 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
$129.9K $16.20/SF
− Vacancy
−$11.0K −$1.38/SF
EGI
$118.9K $14.82/SF
− OpEx
−$35.7K −$4.45/SF
NOI
$83.2K $10.38/SF
Area
Spokane, WA
Vacancy
8.50%
Lease Rate
$16.20 /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%
$1,664,320
Cap Rate 7%
$1,188,800
Cap Rate 9%
$924,622
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,216 @ 7.0% cap · market cap 8.41%
Second Best
Industrial
$666.6K
$583.3K – $777.7K
NOI $46,662 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,841 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
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.
Frequently Asked Questions
What type of property is this?
Flex space - Industrial-retail zoning, showroom space, multiple access routes, and an active security system support varied commercial use.
Where is this flex space located?
The property is located at 3626 E Trent Ave Spokane, WA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: 8,020‑square‑foot flex property on a 0.49‑acre site; Three drive‑in overhead doors; Industrial‑Retail zoning with showroom space for retail use
