High-Traffic Spokane Retail
For Sale
Contact for pricing
10505 N Newport Hwy, Spokane, WA 99218
14,900 SF building on 3.23 acres in North Spokane.
Property Size14,900 SF
Lot Size3.23 Acres
Price / SF$192.28
Days on Market286
Property Features for 10505 N Newport Hwy
General Information
Standard status
Active
Size
14,900 SF
Lot size
3.23 Acres
Property subtype
Retail
Zoning
Mixed Use
Building Details
Year Built
2005
Buildings
1
Units
1
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Carl Guenzel · License #WA
Source:
Crexi
Added: Oct 31, 2025
Changed: Aug 8
Last Checked: Aug 11 at 4:09PM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This single-tenant building offers a prime opportunity in a high-traffic North Spokane location. The property features approximately 14,900 square feet of space and is situated on a lot of approximately 3.23 acres. The location provides excellent visibility and accessibility. The property benefits from its proximity to the YMCA, Northpoint Plaza, and the North Division Y, and is ideal for businesses seeking a prominent location in a well-established commercial corridor with steady traffic and strong neighborhood demographics.
Key Highlights
- High‑traffic North Spokane location with excellent visibility and accessibility.
- Large ±3.23‑acre lot.
- Substantial ±14,900 SF single‑tenant building.
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
$154,604
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
5.40%
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%
$3,092,080
$3.1M
Cap Rate 7%
$2,208,629
$2.2M
Cap Rate 9%
$1,717,822
$1.7M
Market Conditions
NOI Build-Up for 14,900 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
$241.4K $16.20/SF
− Vacancy
−$20.5K −$1.38/SF
EGI
$220.9K $14.82/SF
− OpEx
−$66.3K −$4.45/SF
NOI
$154.6K $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%
$3,092,080
Cap Rate 7%
$2,208,629
Cap Rate 9%
$1,717,822
Alternative Uses
Best Use
Retail
$2.21M
$1.93M – $2.58M
NOI $154,604 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.84M
$3.36M – $4.48M
NOI $269,094 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99218, WA
15,591
Population
6,464
Households
2.4
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,293
Density / Sq Mi
$73,723
Median Household Income
$40,854
Median Earnings
$1,147
Median Rent
$404,500
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?
Storefront property - 14,900 SF building on 3.23 acres in North Spokane.
Where is this storefront property located?
The property is located at 10505 N Newport Hwy Spokane, WA.
What is the asking price?
The asking price for this property is $2,865,000.
What are key features of this property?
This property features: High‑traffic North Spokane location with excellent visibility and accessibility.; Large ±3.23‑acre lot.; Substantial ±14,900 SF single‑tenant building.
