Building Details

Construction concrete block

Listing Agency: Kiemle Hagood Show Phone

Listed By: Tim Kestell · License #84800 Show Phone

Source: Moodyscre

Added: Oct 6, 2021 Changed: Oct 25 Last Checked: Oct 28 at 8:26AM

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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

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Investment Insights

Based on property information with market context.

This warehouse property includes approximately 4,900 SF of warehouse area with up to about 15' clearance and full HVAC. The building uses solid concrete block construction and features a loading dock with two overhead doors measuring 10'H x 8'W each.

The property provides parking for 10 spaces. Zoning is listed as Downtown General (DG).

Key Highlights

• Warehouse area of +/- 4,900 SF with up to +/- 15' clearance
• Full HVAC in the warehouse area
• Loading dock with 2 overhead doors: 1 (10'H x 8'W) and 1 (10'H x 8'W)

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$68,262

Cap Rate

7.58%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,365,240 $1.4M

Cap Rate 7%

$975,171 $975.2K

Cap Rate 9%

$758,467 $758.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,450 SF

Gross rent

$89.0K $8.52/SF

− Vacancy

−$8.7K −$0.83/SF

EGI

$80.3K $7.69/SF

− OpEx

−$12.0K −$1.15/SF

NOI

$68.3K $6.53/SF

Area

Spokane, WA

Vacancy

9.80%

Lease Rate

$8.52 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,365,240

Cap Rate 7%

$975,171

Cap Rate 9%

$758,467

Alternative Uses

Best Use

Warehouse

$975.2K

$853.3K – $1.14M (±1% cap)

NOI $68,262 @ 7.0% cap · market cap 7.58%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.70M

$2.36M – $3.15M (±1% cap)

NOI $188,727 @ 7.0% cap · market cap 20.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Carpet & Flooring Store Locksmith (Bike/Boat/Book/etc) Store Tanning Salon Clothing & Fashion Store Fish Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

15 ft

Clear height

2

Dock-high doors

Location Intelligence

Trade Area within ½ mile

5,408

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 99201, WA

15,716

Population

8,842

Households

1.8

Avg Household Size

39

Median Age

34%

College-Educated

91%

High-School Grad

3.0 sq mi

ZIP Area

5,239

Density / Sq Mi

$35,286

Median Household Income

$36,599

Median Earnings

$883

Median Rent

$259,800

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Warehouse - Warehouse space offers up to 15' clearance, full HVAC, and a loading dock with two overhead doors.

Where is this warehouse located?

The property is located at 1108-1110 W 2nd Ave Spokane, WA.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: Warehouse area of +/- 4,900 SF with up to +/- 15' clearance; Full HVAC in the warehouse area; Loading dock with 2 overhead doors: 1 (10'H x 8'W) and 1 (10'H x 8'W)