Clearspan Warehouse
For Sale
Contact for pricing
11319 W Jake Ln, Airway Heights, WA 99001
Industrial facility with office space, two restrooms, three-phase power, and drive-through loading access.
Property Size7,200 SF
Lot Size0.73 Acres
Price / SF$131.94
Days on Market12
Property Features for 11319 W Jake Ln
General Information
Standard status
Active
Size
7,200 SF
Lot size
0.73 Acres
Property subtype
INDUSTRIAL
Warehouse & Industrial
Clear Height
21 ft
Clear Span
Yes
Drive-In Doors
2
Three-Phase Power
Yes
Building Details
Buildings
1
Building Size
7,200 SF
Listing Agency:
Kiemle Hagood
(509) 755-7524
Listed By:
Mark Lucas
(509) 755-7524
Source:
Moodyscre
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 1:31PM
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
Investment Insights
Based on property information with market context.
This 7,200 SF warehouse offers a clearspan interior with a 21-foot clear height, supporting flexible industrial operations. The building includes office space, two restrooms, three-phase power, and septic service. Two grade-level loading doors provide drive-through capability for efficient movement of equipment and materials.
The property occupies a 31,954 SF site within Airways Industrial Park. It is positioned just west of Hayden Road in Airway Heights, between McFarlane and 21st Ave. Additional buildings in the industrial park are also available for sale or lease.
The property occupies a 31,954 SF site within Airways Industrial Park. It is positioned just west of Hayden Road in Airway Heights, between McFarlane and 21st Ave. Additional buildings in the industrial park are also available for sale or lease.
Key Highlights
- 7,200 SF clearspan warehouse building
- 21' clear height
- Two grade loading doors with drive‑through capability
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,398
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,960
$1.0M
Cap Rate 7%
$719,971
$720.0K
Cap Rate 9%
$559,978
$560.0K
Market Conditions
NOI Build-Up for 7,200 SF
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.
Gross rent
$64.8K $9.00/SF
− Vacancy
−$5.5K −$0.77/SF
EGI
$59.3K $8.24/SF
− OpEx
−$8.9K −$1.24/SF
NOI
$50.4K $7.00/SF
Area
Spokane County, WA
Vacancy
8.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,007,960
Cap Rate 7%
$719,971
Cap Rate 9%
$559,978
Alternative Uses
Best Use
Warehouse
$720.0K
$630.0K – $840.0K
NOI $50,398 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,460 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
2
Drive-in doors
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99001, WA
8,859
Population
2,739
Households
3.2
Avg Household Size
34
Median Age
18%
College-Educated
91%
High-School Grad
8.0 sq mi
ZIP Area
1,107
Density / Sq Mi
$60,182
Median Household Income
$34,200
Median Earnings
$1,271
Median Rent
$281,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Ray's Big Bays — 11822 W 21st Ave, Airway Heights, WA 99001
- ABC Mini Storage — 1601 S Lyons Rd, Airway Heights, WA 99001
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility with office space, two restrooms, three-phase power, and drive-through loading access.
Where is this warehouse located?
The property is located at 11319 W Jake Ln Airway Heights, WA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 7,200 SF clearspan warehouse building; 21' clear height; Two grade loading doors with drive‑through capability
