1115 1st St Cheney, WA 99004
COMMERCIAL - Cheney, WA
Property Features for 1115 1st St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- COM
- Standard status
- Active
- APN
- 13131.0506
- Size
- 9,600 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Annual Amount
- 12673
Utilities
- Heating system
- Electric (Heating), Baseboard
Building Details
- Year built
- 1970
- Floors in Building
- 3
- Building materials
- Brick, Vinyl Siding
- Roof type
- Composition
Listing agent Nicole Page (509) 458-4000
Listing office Keller Williams Spokane - Main 534 E Spokane Falls Blvd Suite 300, Spokane, WA (509) 458-4000
Listing date Jul 14, 2026
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is described as cash flowing and is located in the heart of Cheney, with Eastern Washington University referenced as a key demand driver. Reported exterior and site improvements include a newer roof, updated vinyl siding and windows, concrete walkways, and off-street parking. The building sits on a 0.1908-acre lot with approximately 9,600 square feet of property size, according to the listing information.
Key Highlights
- 11‑unit apartment building in Cheney near Eastern Washington University
- Unit mix: seven 1‑bed/1‑bath units and four 2‑bed/1‑bath units
- Updated exterior and components including newer roof, vinyl siding, and windows
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.5k | $20.16 |
| − Vacancy | −$15.5k | −$1.61 |
| EGI | $178.1k | $18.55 |
| − OpEx | −$80.1k | −$8.35 |
| NOI | $97.9k | $10.20 |
