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    High-Visibility Retail Space Available Title is generated by Realmo AI

    1020 West Francis Ave, Spokane, WA 99205

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    For Lease
    $6 SF/Yr $8,185/Mo (calc)

    Prime Spokane retail space with strong traffic and brand visibility.

    Type:Retail
    Property size:
    14,403 SF
    Lot size:
    1.06 Acres
    Added:
    Mar 6, 2026
    Days on Market:
    71
    Last Refresh:
    Apr 6 at 12:23 am

    Property Features for 1020 West Francis Ave

    General Information

    Standard status
    Active
    Size
    14,403 SF
    Lot size
    1.06 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    2009

    Spaces For Lease

    at 1020 West Francis Ave Contact us

    We can help!

    Listing Contact
    Guy D. Byrd, SIOR

    Listing agent Guy D. Byrd, SIOR License #WA #17968

    Listing office

    Listing date Mar 6, 2026

    Source Svn

    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 Guy D. Byrd, SIOR

    HighLights

    • High‑visibility location on Francis Avenue with ±28,445 average daily traffic.
    • ±14,403 SF space suitable for various retail, service, or showroom uses.
    • Ample on‑site parking and convenient access.
    • Strong surrounding residential density supporting retail demand.
    • Located within an established retail corridor near national and regional retailers.
    • Prominent signage exposure along Francis Avenue.

    Overview

    Located on Spokane’s North Side, 1020 W Francis Avenue presents a retail leasing opportunity with high visibility along a primary east-west arterial. The space, encompassing approximately 14,403 square feet, is suitable for a variety of retail, service, or showroom businesses. The property benefits from prominent signage exposure on Francis Avenue, which sees approximately 28,445 vehicles per day, offering significant brand visibility. The site features ample on-site parking, convenient access, and a flexible layout, making it suitable for both neighborhood-serving and destination-oriented tenants. Equipment and games are available for separate purchase, allowing for quick setup in a built-out space. The location benefits from strong surrounding residential density, supporting neighborhood retail demand, and is situated within an established retail corridor near national and regional retailers, driving consistent consumer activity. High daytime and commuter traffic is driven by Francis Avenue’s east-west connectivity. The site encompasses approximately 1.06 acres. Suite available April 1, 2026. Current lease through March 2027. Adjacent to Francis Avenue with strong corridor exposure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Heather Washburn Hair Salon Thomas Clare Cellars Brewery & Distillery Chaos Arcade Arcade & Gaming Center Earnest Raab Alternative Medicine Practice Dr. Matthew Raab Alternative Medicine Practice

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.427
    Latitude
    47.7158

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    FAQs

    What type of property is this?
    Retail space - Prime Spokane retail space with strong traffic and brand visibility.
    Where is this retail space located?
    The property is located at 1020 West Francis Ave Spokane, WA.
    What is the lease rate?
    The lease rate is $6 SF/Yr.
    What are key features of this property?
    This property features: High‑visibility location on Francis Avenue with ±28,445 average daily traffic.; ±14,403 SF space suitable for various retail, service, or showroom uses.; Ample on‑site parking and convenient access.
    (509) 321-2000
    We can help!
    Listing Contact
    Guy D. Byrd, SIOR
    Real Estate License ID: WA #17968
    Learn More
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    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
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