Single-Tenant Net-Leased Retail
For Sale
Contact for pricing
1003 E 3rd Ave, Spokane, WA 99202
Office Depot has operated at this net-leased retail site since 1990 under a newly extended 10-year, corporately guaranteed lease.
Lot Size2.18 Acres
Days on Market117
Property Features for 1003 E 3rd Ave
General Information
Standard status
Active
Lot size
2.18 Acres
Property subtype
RETAIL
Zoning
General Commercial
Occupancy
100%
Site & Location
Traffic Count
100,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Tenancy
Single
Listing Agency:
Linc Properties
(425) 455-3131
Listed By:
Brian Leibsohn · License #18848
(425) 455-3131
Source:
Moodyscre
Added: Apr 6
Changed: Jul 29
Last Checked: Jul 30 at 1:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Linc Properties
Investment Insights
Based on property information with market context.
This offering is a passive, single-tenant net-leased retail property leased to Office Depot. The lease was recently extended with a newly executed 10-year corporately guaranteed term completed in March 2026, providing long-term contractual income under a triple-net (NNN) structure with minimal landlord obligations. The tenant has continuously operated at the location since 1990.
The property is located on a 2.18-acre site with direct access and visibility to Interstate 90, which is described as carrying 100,000+ VPD. The asset is positioned with close proximity to downtown Spokane and the University District.
General Commercial zoning provides density-driven flexibility, including future building height up to approximately 150 feet, and supports a variety of uses. The offering also includes contractual rent increases of 10% and 27% in the primary and option periods, respectively.
The property is located on a 2.18-acre site with direct access and visibility to Interstate 90, which is described as carrying 100,000+ VPD. The asset is positioned with close proximity to downtown Spokane and the University District.
General Commercial zoning provides density-driven flexibility, including future building height up to approximately 150 feet, and supports a variety of uses. The offering also includes contractual rent increases of 10% and 27% in the primary and option periods, respectively.
Key Highlights
- Single‑tenant Office Depot property in Spokane, WA, operating continuously since 1990.
- Newly executed 10‑year corporately guaranteed lease extension completed March 2026 under a triple‑net (NNN) structure.
- Lease includes contractual rent increases of 10% (primary period) and 27% (option period), with a tenant termination option tied to 180 days’ notice if store sales do not exceed $2.5M.
Property Analytics
Current Use
Lease Details
100,000 VPD
Traffic count
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Office Depot has operated at this net-leased retail site since 1990 under a newly extended 10-year, corporately guaranteed lease.
Where is this nnn property located?
The property is located at 1003 E 3rd Ave Spokane, WA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Single‑tenant Office Depot property in Spokane, WA, operating continuously since 1990.; Newly executed 10‑year corporately guaranteed lease extension completed March 2026 under a triple‑net (NNN) structure.; Lease includes contractual rent increases of 10% (primary period) and 27% (option period), with a tenant termination option tied to 180 days’ notice if store sales do not exceed $2.5M.
