Skybridge-Connected Office
107 South Thor Street, Spokane, WA 99202
For Sale
Contact for pricing
A skybridge links the office structures, with space arranged across lower, main, and second levels.
Property Size46,950 SF
Price / SF$197.02
Days on Market56
Property Features for 107 South Thor Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Buildings
Listing Agency:
SVN | Cornerstone
Listed By:
Matthew Byrd · License WA #44400
(509) 499-9229
Source:
Crexi
Added: Sep 16
Changed: Nov 7
Last Checked: Nov 10 at 5:21AM
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 SVN | Cornerstone
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Investment Insights
Based on property information with market context.
At 107 South Thor Street, the office building contains 31,350 square feet across a lower level, main level, and second level. The lower and main levels each measure 10,050 square feet, while the second level contains 11,250 square feet. The building was constructed in 1988.
The office building at 3428 East 1st Avenue totals 15,600 square feet. Its lower and main levels each offer 4,800 square feet, and the second level contains 6,000 square feet. Built in 1981, it is connected to the other identified building by a skybridge.
The office building at 3428 East 1st Avenue totals 15,600 square feet. Its lower and main levels each offer 4,800 square feet, and the second level contains 6,000 square feet. Built in 1981, it is connected to the other identified building by a skybridge.
Key Highlights
- 31,350‑square‑foot building at 107 South Thor Street
- 15,600‑square‑foot building at 3428 East 1st Avenue
- Skybridge connects the two identified buildings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$672,277
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,445,540
$13.4M
Cap Rate 7%
$9,603,957
$9.6M
Cap Rate 9%
$7,469,744
$7.5M
Market Conditions
NOI Build-Up for 46,950 SF
Gross rent
$1.04M $22.20/SF
− Vacancy
−$145.9K −$3.11/SF
EGI
$896.4K $19.09/SF
− OpEx
−$224.1K −$4.77/SF
NOI
$672.3K $14.32/SF
Area
Spokane, WA
Vacancy
14.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,445,540
Cap Rate 7%
$9,603,957
Cap Rate 9%
$7,469,744
Alternative Uses
Best Use
Office B
$9.60M
$8.40M – $11.20M
NOI $672,277 @ 7.0% cap · market cap 7.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.11M
$10.60M – $14.13M
NOI $847,917 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
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Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Spokane, WA
Properties on Market for Office buildings in Spokane
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - A skybridge links the office structures, with space arranged across lower, main, and second levels.
Where is this office building located?
The property is located at 107 South Thor Street Spokane, WA.
What is the asking price?
The asking price for this property is $9,250,000.
What are key features of this property?
This property features: 31,350‑square‑foot building at 107 South Thor Street; 15,600‑square‑foot building at 3428 East 1st Avenue; Skybridge connects the two identified buildings
