NNN Auto Service
For Sale
Contact for pricing
103 E Lincoln Rd, Spokane, WA 99208
Renovated facility with updated roofing, drainage, and drywell systems supports ongoing automotive service operations.
Property Size5,014 SF
Price / SF$319.11
Days on Market58
Property Features for 103 E Lincoln Rd
General Information
Standard status
Active
Size
5,014 SF
Class
A
Total Parking Spaces
16
Property subtype
Retail
Zoning
GC
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$103,500
Site & Location
Traffic Count
43,552 vehicles/day
Road Access
Yes
Building Details
Year Built
1986
Year Renovated
2025
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Las Vegas
(702) 215-7100
Listed By:
Dustin Alvino · License #NV BS.0143692
Source:
Crexi
Added: Jul 3
Changed: Aug 29
Last Checked: Aug 29 at 7:11PM
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 Marcus & Millichap - Las Vegas
Investment Insights
Based on property information with market context.
This auto service property contains a 5,014-square-foot facility occupied by Wilde Automotive Repair. The building was constructed in 1986 and received capital improvements in 2025, including a new roof, drains, and drywells. The property is leased on a triple-net basis, with 18 years of firm lease term remaining and 15% rental increases scheduled every five years.
The site is located at 103 E Lincoln Rd in Spokane, Washington, just off the signalized intersection of E Lincoln Rd and N Division St. The surrounding retail corridor records 43,552 vehicles per day and includes major big-box and lifestyle tenants. GC zoning is also in place for the property.
The site is located at 103 E Lincoln Rd in Spokane, Washington, just off the signalized intersection of E Lincoln Rd and N Division St. The surrounding retail corridor records 43,552 vehicles per day and includes major big-box and lifestyle tenants. GC zoning is also in place for the property.
Key Highlights
- 5,014 SF auto service facility occupied by Wilde Automotive Repair
- Triple‑net lease with 18 years of firm term remaining
- 15% rental increases every five years
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,026
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,040,520
$1.0M
Cap Rate 7%
$743,229
$743.2K
Cap Rate 9%
$578,067
$578.1K
Market Conditions
NOI Build-Up for 5,014 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$81.2K $16.20/SF
− Vacancy
−$6.9K −$1.38/SF
EGI
$74.3K $14.82/SF
− OpEx
−$22.3K −$4.45/SF
NOI
$52.0K $10.38/SF
Area
Spokane, WA
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,040,520
Cap Rate 7%
$743,229
Cap Rate 9%
$578,067
Alternative Uses
Best Use
Retail
$743.2K
$650.3K – $867.1K
NOI $52,026 @ 7.0% cap · market cap 3.25%
Second Best
Industrial
$416.7K
$364.7K – $486.2K
NOI $29,172 @ 7.0% cap · market cap 1.82%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,553 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
43,552 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
618
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99208, WA
58,531
Population
24,273
Households
2.4
Avg Household Size
39
Median Age
34%
College-Educated
95%
High-School Grad
48.7 sq mi
ZIP Area
1,202
Density / Sq Mi
$81,084
Median Household Income
$45,733
Median Earnings
$1,226
Median Rent
$414,000
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Arrotta's Mitsubishi Service Center — 7005 N Division St, Spokane, WA 99208
- 24/7 Tow Truck Spokane - Towing Service — 7503 N Division St, Spokane, WA 99208
- Jiffy Lube — 7320 N Division St, Spokane, WA 99208
- Auto Glass Express - North — 7318 N Division St, Spokane, WA 99208
- Dave's Small Engine Repair — 209 W Brita Ave, Spokane, WA 99208
Frequently Asked Questions
What type of property is this?
Auto shop - Renovated facility with updated roofing, drainage, and drywell systems supports ongoing automotive service operations.
Where is this auto shop located?
The property is located at 103 E Lincoln Rd Spokane, WA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 5,014 SF auto service facility occupied by Wilde Automotive Repair; Triple‑net lease with 18 years of firm term remaining; 15% rental increases every five years
