Versatile Live/Work Light Industrial
For Sale
$498,500
10623 E Montgomery Dr, Spokane Valley, WA 99206
Light industrial property suitable for live/work or commercial operations.
Property Size2,000 SF
Lot Size0.28 Acres
Price / SF$249.25
Days on Market259
Property Features for 10623 E Montgomery Dr
General Information
Standard status
Active
Size
2,000 SF
Lot size
0.28 Acres
Taxes and HOA fees
Annual Taxes
$3,344
Listing Agency:
Avalon 24 Real Estate
(208) 215-2044
Listed By:
Aryn Presta
(509) 998-0988
Source:
Exprealty
Added: Jan 26
Changed: Oct 4
Last Checked: Oct 11 at 11:32AM
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 Avalon 24 Real Estate
Investment Insights
Based on property information with market context.
This light industrial zoned property is suited for a live/work setup or commercial operations. The property features six office areas and three bathrooms, with space for two additional offices on the main floor. The ground level, spanning just under 2,000 sq ft, includes a conference room, a smaller meeting space, a functional kitchen, and a shop area. Upstairs, there are three large bedrooms convertible to premium office suites, with the option for separate exterior access. Situated on a quarter-acre corner lot, the site provides parking for up to nine vehicles, a 30x24 garage/shop, and high visibility with high daily traffic counts. Every room is wired for high-speed internet.
Key Highlights
- Light industrial zoning suitable for live/work or commercial use.
- Prime quarter‑acre corner lot with high visibility and traffic.**
- Ample parking for up to nine vehicles plus a 30x24 garage/shop.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,840
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,800
$436.8K
Cap Rate 7%
$312,000
$312.0K
Cap Rate 9%
$242,667
$242.7K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$38.4K $19.20/SF
− Vacancy
−$3.5K −$1.73/SF
EGI
$34.9K $17.47/SF
− OpEx
−$13.1K −$6.55/SF
NOI
$21.8K $10.92/SF
Area
Spokane Valley, WA
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,800
Cap Rate 7%
$312,000
Cap Rate 9%
$242,667
Alternative Uses
Best Use
Mixed Use
$312.0K
$273.0K – $364.0K
NOI $21,840 @ 7.0% cap · market cap 4.38%
Second Best
Office B
$306.0K
$267.8K – $357.0K
NOI $21,420 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$434.5K
$380.2K – $506.9K
NOI $30,413 @ 7.0% cap · market cap 6.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 99206, WA
39,842
Population
17,339
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
95%
High-School Grad
23.4 sq mi
ZIP Area
1,703
Density / Sq Mi
$75,538
Median Household Income
$42,018
Median Earnings
$1,174
Median Rent
$362,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Live-work space - Light industrial property suitable for live/work or commercial operations.
Where is this live-work space located?
The property is located at 10623 E Montgomery Dr Spokane Valley, WA.
What is the asking price?
The asking price for this property is $498,500.
What are key features of this property?
This property features: Light industrial zoning suitable for live/work or commercial use.; Prime quarter‑acre corner lot with high visibility and traffic.**; Ample parking for up to nine vehicles plus a **30x24 garage/shop.**
