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    1322 Whitman Ln Liberty Lake, WA 99019

    Sponsored
    For Sale
    $12,500,000

    Class A Office, 42,551 SF, Excellent Location

    Property size:
    42,551 SF

    Description

    Added:
    Feb 13, 2025
    Days on Market:
    342
    This exceptional Class A office building, located at 1322 N Whitman Ln in Liberty Lake, Washington, presents a compelling investment opportunity. Boasting a total of 42,551 square feet, this two-story structure was originally built in 2001 and underwent a significant renovation in 2007. The property offers flexible space options, with the potential to lease anywhere from 20,000 to 42,551 square feet, accommodating a variety of business needs. Its strategic location between Spokane, WA and Post Falls/Coeur d'Alene, ID, provides easy access to a thriving regional market. The building benefits from its proximity to new developments and enjoys high visibility from Interstate 90, ensuring strong brand recognition. Ample on-site parking is available for tenants and visitors. Separate entries at each end of the building enhance functionality and convenience. The asking price for this prime commercial property is $12,500,000. This presents a rare opportunity to acquire a well-maintained, highly visible, and strategically located office building in a rapidly growing area. The property's size, modern amenities, and convenient location make it an ideal investment for discerning buyers seeking a strong return on investment. The building's 2007 renovation ensures modern functionality and aesthetics, appealing to a wide range of potential tenants. The property's location in Spokane County, WA, zip code 99019, offers easy access to major transportation routes and a vibrant business community.

    Property Features for 1322 Whitman Ln

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    42,551 SF

    Building Details

    Year Built/Renovated
    2001/2007
    Buildings
    1
    Stories
    2

    We can help!

    Listing Contact
    Jon Jeffreys
    Jon Jeffreys

    Learn more

    Property Insight Report

    HighLights

    • $12,500,000 asking price.
    • 42,551 square foot office building.
    • Located at 1322 N Whitman Ln, Liberty Lake, WA 99019.
    • Two‑story building constructed in 2001, renovated in 2007.
    • Offers 20,000 - 42,551 square feet of Class A office space.
    • Features separate building entries and ample on‑site parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Liberty Lake
    County
    Spokane
    State
    Washington
    Longitude
    -117.11128495603
    Latitude
    47.668410862835

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office, 42,551 SF, Excellent Location
    Where is this office property / space located?
    The property is located at 1322 Whitman Ln Liberty Lake, WA.
    What is the asking price?
    The asking price for this property is $12,500,000.
    What are key features of this property?
    This property features: $12,500,000 asking price.; 42,551 square foot office building.; Located at 1322 N Whitman Ln, Liberty Lake, WA 99019.
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    1322 Whitman Ln Liberty Lake, WA 99019
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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
    1322 Whitman Ln Liberty Lake, WA 99019
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    We can help!
    Listing Contact
    Jon Jeffreys
    Jon Jeffreys
    Real Estate License ID: WA JEFFRJJ153P
    Learn more
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