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    Historic Wenatchee Office Space Title is generated by Realmo AI

    11 Spokane St, Wenatchee, WA 98801

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    Classic brick and beam office building in downtown Wenatchee.

    Type:Office
    Property size:
    565 SF
    Added:
    Sep 20, 2024
    Days on Market:
    623
    Last Refresh:
    May 12 at 10:54 pm

    Property Features for 11 Spokane St

    General Information

    Standard status
    Active
    Size
    565 SF
    Property subtype
    Office

    Building Details

    Year Built
    1919

    Spaces For Lease

    at 11 Spokane St Contact us

    Suite- 207 $21/Mo

    Size
    1,327 SF
    Type
    Office
    $21.50 Annual/SFNNNnSuite 207 is located on the 2nd floor and just a short walk from...
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    Contact us

    205A $19/Mo

    Size
    625 SF
    Type
    Office
    $19.00 Annual/SFNNN
    Contact us

    Floor 1st, Suite 104 $26/Mo

    Size
    550 SF
    Type
    Office
    East facing windows add great natural light throughout the suite. Accessed from interior...
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    Contact us

    302 $20/Mo

    Size
    1,431 SF
    Type
    Office
    $20.00 Annual/SFNNN
    Contact us

    Suite- 305 $18/Mo

    Size
    2,023 SF
    Type
    Office
    $18.50 Annual/SFNNNnExpenses $2.50 (NNN)
    Contact us

    100 $17/Mo

    Size
    2,900 SF
    Type
    Office
    $17.00 Annual/SFNNN
    Contact us

    Suite 201 $20/Mo

    Size
    665 SF
    Type
    Office
    $20.50 Annual/SF Modified GrossnMonthly Rate $1,136nExpenses $3.25 (NNN)nAvailable...
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    We can help!

    Listing Contact
    Chaun Birks

    Listing agent Chaun Birks License #WA 2653

    Listing office Center Investments, Inc.

    Listing date Sep 20, 2024

    Source Crexi

    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 Center Investments, Inc.

    HighLights

    • Modernized‑industrial interior design with restored hardwood flooring and exposed pipes & ductwork.
    • Conveniently located suite on the 2nd floor with reception area and office with exterior windows.
    • Building amenities include fiberoptic internet service and secured entrances.
    • Abundant street parking and private secured parking.
    • Reservable auxiliary large gathering meeting room.
    • Exterior courtyard with water feature.

    Overview

    This classic brick and beam professional office building is located in historic downtown Wenatchee. The modernized-industrial interior design features restored hardwood flooring and exposed pipes and ductwork, contrasting with modern lighting and clean, natural hemlock casing and trim work. Full glass doors and relights cast natural light throughout corridors, common areas, and office suites. Building amenities include fiberoptic internet service, secured entrances, abundant street parking in addition to private secured parking, clean, spacious, and luxurious common restrooms, well-lit and decorative hallways and stairwells, a reservable auxiliary large gathering meeting room, access to and use of two elevators, a loading dock, expressive landscape, and an exterior courtyard with a water feature. The building is comprehensively maintained to the highest professional standards. This 565-square-foot suite is situated on the 2nd floor, conveniently positioned in the center of the building. It features a reception area along with an office that includes exterior windows.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tierra Right of Way ... Real Estate Agency Life Revived Counseling ... Counselor Bothwell & Hamill Law Firm Compu-Tech Inc (Bike/Boat/Book/etc) Store Caliber Home Loans ... Loan Service

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wenatchee
    County
    Douglas
    State
    Washington
    Longitude
    -120.3053137
    Latitude
    47.4185873

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    FAQs

    What type of property is this?
    Office building - Classic brick and beam office building in downtown Wenatchee.
    Where is this office building located?
    The property is located at 11 Spokane St Wenatchee, WA.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Modernized‑industrial interior design with restored hardwood flooring and exposed pipes & ductwork.; Conveniently located suite on the 2nd floor with reception area and office with exterior windows.; Building amenities include fiberoptic internet service and secured entrances.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chaun Birks
    Real Estate License ID: WA 2653
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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.

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