Mixed-Use Property For
1108 W 2nd Ave, Spokane, WA 99201
For Sale
Contact for pricing
Pending
Mixed-use property available for sale or lease.
Property Size10,450 SF
Days on Market1853
Property Features for 1108 W 2nd Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Lease Type
Site & Location
Neighborhood
Building Details
Buildings
Stories
Tenancy
Listing Agency:
Kiemle Hagood
Listed By:
Tim Kestell · License WA #84800
(509) 755-7542
Source:
Crexi
Added: Oct 15, 2021
Changed: Oct 25
Last Checked: Nov 10 at 7:57AM
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 mixed-use property offers both for sale and lease options. The building has a total size of 10450 square feet. It can be used for industrial, office, and retail purposes.
Key Highlights
- For Sale or Lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,800
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,216,000
$1.2M
Cap Rate 7%
$868,571
$868.6K
Cap Rate 9%
$675,556
$675.6K
Market Conditions
NOI Build-Up for 10,450 SF
Gross rent
$92.8K $8.88/SF
− Vacancy
−$5.9K −$0.57/SF
EGI
$86.9K $8.31/SF
− OpEx
−$26.1K −$2.49/SF
NOI
$60.8K $5.82/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,216,000
Cap Rate 7%
$868,571
Cap Rate 9%
$675,556
Alternative Uses
Best Use
Office B
$2.14M
$1.87M – $2.49M
NOI $149,634 @ 7.0% cap · market cap 16.63%
Second Best
Mixed Use
$1.78M
$1.56M – $2.08M
NOI $124,812 @ 7.0% cap · market cap 13.87%
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,727 @ 7.0% cap · market cap 20.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,408
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property available for sale or lease.
Where is this mixed-use property located?
The property is located at 1108 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: For Sale or Lease
