10117 Electric, Four Lakes, WA 99014

Building Details

Year Built 1950 More

Tenancy Multi More

Listing Agency: First Look Real Estate

Listed By: Jennifer Huston Show Phone

Source: Clearwaterproperties

Added: Oct 24 Changed: Nov 12 Last Checked: Nov 12 at 8:07AM

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Investment Insights

Based on property information with market context.

Built in 1950, this 2,030-square-foot mixed-use property contains three units. The two front spaces are commercial: one is leased long term to the USPS, and the other is retail space on a month-to-month lease. A three-bedroom, one-bath apartment is located at the rear.

The apartment is occupied, but its tenants have not paid rent in over a year, and the unit cannot currently be shown. The front commercial units may be viewed during business hours. The USPS lease agreement is available for review upon an accepted offer.

Key Highlights

• Three units in a 2,030‑square‑foot building
• Two front commercial spaces: one leased long term to the USPS, one on a month‑to‑month retail lease
• Rear apartment has three bedrooms and one bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,310

Cap Rate

5.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$446,200 $446.2K

Cap Rate 7%

$318,714 $318.7K

Cap Rate 9%

$247,889 $247.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,030 SF

Gross rent

$33.4K $16.44/SF

− Vacancy

−$1.5K −$0.74/SF

EGI

$31.9K $15.70/SF

− OpEx

−$9.6K −$4.71/SF

NOI

$22.3K $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 Rate 5%

$446,200

Cap Rate 7%

$318,714

Cap Rate 9%

$247,889

Alternative Uses

Best Use

Retail

$318.7K

$278.9K – $371.8K (±1% cap)

NOI $22,310 @ 7.0% cap · market cap 5.95%

Second Best

Mixed Use

$293.6K

$256.9K – $342.6K (±1% cap)

NOI $20,554 @ 7.0% cap · market cap 5.48%

Theoretical Best

Office A

$469.1K

$410.4K – $547.3K (±1% cap)

NOI $32,835 @ 7.0% cap · market cap 8.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Retail space

Suggested Use

Top Pick Plumbing Service Storage Facility Furniture & Home Goods Real Estate Agency Hair Salon Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

34

Businesses Nearby

Explore this area Business Placement

Demographics for 99014, WA

72

Population

15

Households

4.8

Avg Household Size

31

Median Age

100%

High-School Grad

0.1 sq mi

ZIP Area

720

Density / Sq Mi

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two commercial spaces occupy the front, with a three-bedroom apartment at the rear.

Where is this mixed-use property located?

The property is located at 10117 Electric Four Lakes, WA.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: Three units in a 2,030‑square‑foot building; Two front commercial spaces: one leased long term to the USPS, one on a month‑to‑month retail lease; Rear apartment has three bedrooms and one bathroom