Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    5509 W Lawton Rd Spokane, WA 99224

    Sponsored
    For Sale
    Pending
    $600,000

    LAND - Spokane, WA

    Lot size:
    5.70 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 6 at 10:06 pm

    Property Features for 5509 W Lawton Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    LDR
    APN
    25273.9132
    Lot size
    5.70 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Septic Tank
    Water source
    Well

    We can help!

    Listing Contact
    Marc Nilson

    Keller Williams Realty Spokane (509) 458-4000

    Listing agent Marc Nilson (509) 270-0123

    Listing date Feb 6, 2026

    MLS# 202611769 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Spokane Land Development Opportunity

    This property in Spokane, WA, presents a development opportunity with LDR zoning in Spokane County, potentially accommodating up to 45 lots. Additional neighboring parcels are available, potentially allowing for up to 100 buildable lots. The site features a spacious rancher on acreage, offering convenient access to the airport, downtown, and freeway. The location is noted for its quiet environment, bordered by trees. The existing rancher includes vaulted beamed ceilings in the living room, complemented by a gas fireplace. The kitchen is equipped with an island, gas stove, double ovens, and a pantry. A family room features a second gas fireplace and a wet bar. The home has numerous windows offering territorial views. One HVAC system was replaced in 2015, and another in 2023. The property is currently serviced by a well and septic system, with city water and sewer connections available at the property line. Gas is already supplied to the home. The lot size is approximately 5.7 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Dental Office Auto Repair Shop Big Box & Wholesale Store Pharmacy Auto Parts Store Hotel & Motel Kitchen & Bath Showroom Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.490706
    Latitude
    47.631793

    Nearby Similar for Sale

    • $675,000
      Pending

      Spokane Mixed-Use Commercial Landmark

      Historic mixed-use property with income potential in Spokane, Washington.
      5634 E Commerce Ave, Spokane, WA 99207
      View Details
    • $365,000
      Pending

      Versatile Industrial Mixed-Use Property

      Industrial Mixed-Use property with shop, house, and detached garage.
      10807 E Trent Ave, Spokane, WA 99206
      View Details
    • $990,000
      8,020 SF

      Spokane Commercial Property For Sale

      Commercial property with showroom and easy freeway access in Spokane.
      3626 E Trent Ave, Spokane, WA 99202
      View Details
    • $700,000
      16,063 SF

      South Hill Adult Family Home

      Well-established, income-producing adult family home in a peaceful Spokane neighborhood.
      4414 S Helena St, Spokane, WA 99223
      View Details
    • $389,000
      2,608 SF

      Versatile Church Property on Large Lot

      Church property with development potential on a large corner lot.
      4315 N Evergreen Rd, Spokane, WA 99216
      View Details
    • $675,000
      13,386 SF

      South Hill Adult Family Home

      Well-established, income-producing adult family home in a peaceful Spokane neighborhood.
      2214 E 36Th Ave, Spokane, WA 99203
      View Details
    • $699,900
      5,472 SF

      Spokane Office Building with Potential

      Centrally located Spokane office building with conversion potential.
      1915 N Division St, Spokane, WA 99207
      View Details
    • $1,299,000
      9,000 SF

      Spokane Commercial Opportunity

      9,000 SF Spokane commercial property on 1.89 acres.
      1611 W Geiger Blvd, Spokane, WA 99224
      View Details
    • New
      $410,000
      1,827 SF

      Gonzaga Area Rental Property

      Rental property near Gonzaga University, leased through May 2026.
      11 E Sinto Ave, Spokane, WA 99202
      View Details
    • $600,000
      0.14 Acres

      Spokane Multifamily Investment Opportunity

      Well-maintained 5-unit property in a desirable Spokane neighborhood.
      1619 N Madison St, Spokane, WA 99205
      View Details
    • $225,000
      0.03 Acres

      Spokane Garage Lodge Unit Resale

      Automotive playground with lift, ready for customization near Highway 2.
      1551 Deer Heights Rd, Spokane, WA 99224
      View Details
    • $1,490,000
      14,896 SF

      Versatile Spokane Commercial Warehouse Space

      15,000 sq ft warehouse with office space in Spokane.
      3303 E Ferry Ave, Spokane, WA 99202
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Land with development potential, close to amenities and transportation.
    Where is this residential land & home lot located?
    The property is located at 5509 W Lawton Rd Spokane, WA.
    What is the asking price?
    The asking price for this property is $600,000.
    What are key features of this property?
    This property features: - Development Opportunity: Zoned LDR for up to 45 lots, with potential for 100 lots with neighboring parcels.; - Prime Location: Close-in acreage with easy access to the airport, downtown, and freeway.; - Utilities: City water and sewer available at the property line; natural gas already supplied.
    (509) 270-0123
    Request Owner's contact information
    5509 W Lawton Rd Spokane, WA 99224
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    5509 W Lawton Rd
    Spokane, WA 99224
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5509 W Lawton Rd Spokane, WA 99224
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Marc Nilson
    Real Estate License ID: 26340
    (509) 270-0123
    Learn more
    Google sign-in failed. Please try again or use another login method.