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    Historic Warehouse with Storage Bays Title is generated by Realmo AI

    112 W Pacific Ave, Spokane, WA 99201

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    New
    For Sale
    $700,000

    A centrally located warehouse with multiple storage bays, shelving, and freight access for flexible storage-focused operations.

    Type:Industrial
    Property size:
    21,225 SF
    Price / SF:
    $32/SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 3 at 1:45 am

    Property Features for 112 W Pacific Ave

    General Information

    Standard status
    Active
    Size
    21,225 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1906

    We can help!

    Listing Contact
    Eric Weaver

    Listing agent Eric Weaver

    Listing office

    Listing date Jun 2, 2026

    Source Naiblack

    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 Eric Weaver

    HighLights

    • 21,225 SF warehouse building with three floors and storage‑focused layout
    • Nearly 20 storage bays plus multiple shelving units for organized storage
    • Freight access with a street‑accessible freight door
    • General Commercial zoning
    • Ceiling height ranges from 10' to 20'

    Overview

    This historic warehouse offers a practical storage configuration designed around nearly 20 storage bays, supported by multiple shelving units. The property includes three floors and a freight-door setup, along with ceiling heights reported in the 10'-20' range to accommodate a range of storage needs. Street-accessible improvements round out the space, making it well-suited for warehouse and distribution-style storage operations under its general commercial zoning.

    The building is centrally located in Spokane, providing straightforward connectivity to major roadways including I-90, I-405, and SR-904. This location can support customers and logistics with convenient regional access.

    For tenants or buyers seeking warehouse space with built-in storage and shelving, this property’s bay-and-rack arrangement can help reduce the time and cost of converting space for day-to-day storage. The three-floor layout and freight-door access support an efficient workflow for inventory organization, while the centrally accessible setting may appeal to operators that want regional transportation options without giving up an in-town location.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

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

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

    Similar Places Nearby

    • Near2Me Storage Units — 1213 W Railroad Alley, Spokane, WA 99201

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4139377
    Latitude
    47.655697

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    FAQs

    What type of property is this?
    Warehouse - A centrally located warehouse with multiple storage bays, shelving, and freight access for flexible storage-focused operations.
    Where is this warehouse located?
    The property is located at 112 W Pacific Ave Spokane, WA.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: 21,225 SF warehouse building with three floors and storage‑focused layout; Nearly 20 storage bays plus multiple shelving units for organized storage; Freight access with a street‑accessible freight door
    (360) 631-1526
    We can help!
    Listing Contact
    Eric Weaver
    Learn More
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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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