Three-Unit Mixed-Use
New
For Sale
$375,000
10117 S Electric St, Four Lakes, WA 99014
Commercial Sale, Four Lakes, WA
Property Size2,030 SF
Lot Size0.39 Acres
Price / SF$184.73
Days on Market4
Property Features for 10117 S Electric St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RAC
Basement
Partial
Lot features
Level, Corner Lot, Oversized Lot
View
Territorial, City
Elementary school
Betz
Middle school
Cheney
High school
Cheney
Elementary school district
Cheney
Directions
West bound I90, Take exit 904 towards Cheney, West on 1st street. Apartment/business at corner of 1st & Electric
Standard status
Active
APN
14231.0207
Size
2,030 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Annual Amount
3189
Utilities
Heating system
Baseboard
Building Details
Year built
1950
Floors in Building
2
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
First Look Real Estate
Listed By:
Jennifer Huston
(509) 928-3413
Added: Oct 22
Last Checked: Oct 25 at 1:06AM
MLS# 202626114
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.
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Investment Insights
Based on property information with market context.
The 2,030-square-foot mixed-use property contains three units: two commercial spaces at the front and a three-bedroom, one-bathroom apartment at the rear. One commercial unit is occupied by the USPS under a long-term lease; the other is retail space on a month-to-month lease. The apartment is occupied, but its tenants have not paid rent in over a year, and the unit cannot currently be shown. The building dates to 1950 and has wood siding, composition roofing, and baseboard heat. The 0.39-acre property is zoned RAC.
Key Highlights
- Three units: two commercial spaces and a rear 3‑bedroom, 1‑bathroom apartment
- 2,030 square feet on a 0.39‑acre lot
- USPS occupies one commercial unit under a long‑term lease
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
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
NOI $22,310 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$295.8K
$258.9K – $345.1K
NOI $20,708 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$469.1K
$410.4K – $547.3K
NOI $32,835 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
1
Residential units
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
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View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two commercial spaces and a rear apartment combine business occupancy with residential use.
Where is this mixed-use property located?
The property is located at 10117 S Electric St 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: two commercial spaces and a rear 3‑bedroom, 1‑bathroom apartment; 2,030 square feet on a 0.39‑acre lot; USPS occupies one commercial unit under a long‑term lease
