Newman Lake Contractor
For Sale
$975,000
7902 N Starr Rd, Newman Lake, WA 99025
12.90 acre site with office and warehouse buildings.
Property Size5,720 SF
Price / SF$170.45
Days on Market263
Property Features for 7902 N Starr Rd
General Information
Standard status
Active
Size
5,720 SF
Property subtype
Industrial
Building Details
Building Size
5,720 SF
Year Built
1978
Listing Agency:
SVN | Cornerstone
(509) 499-9229
Listed By:
Matthew Byrd · License #WA #44400
(509) 499-9229
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 11
Last Checked: Aug 11 at 5:04AM
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 SVN | Cornerstone
Investment Insights
Based on property information with market context.
This 12.90 acre site is located on Starr Rd in Newman Lake, WA. It is zoned Rural Traditional and includes a large yard space suitable for storing materials and equipment. The property features three buildings for office and warehouse operations. The residential house/office is a ranch with a walkout basement, containing 3 bedrooms and 3 bathrooms, and measures 1,280 square feet. The Quonset storage/warehouse provides 2,280 square feet of space, while the pole building/storage/warehouse offers 2,160 square feet. Additional space not included in the total square footage consists of a manufactured home, carport, and lean-tos. Excess materials on-site include asphalt and rock. The location provides convenient access to Trent Ave, I-90, Spokane Valley, North Spokane, and Idaho, making it ideally positioned for a contractor.
Key Highlights
- 12.90 acre site zoned Rural Traditional, ideal for a contractor.
- Three buildings for Office and Warehouse operations: 2,280 SF Quonset, 2,160 SF Pole Building, and 1,280 SF Residential House/Office.
- Large yard space suitable for storing materials and equipment.
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
$40,039
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
4.11%
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%
$800,780
$800.8K
Cap Rate 7%
$571,986
$572.0K
Cap Rate 9%
$444,878
$444.9K
Market Conditions
NOI Build-Up for 5,720 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
$51.5K $9.00/SF
− Vacancy
−$4.4K −$0.77/SF
EGI
$47.1K $8.24/SF
− OpEx
−$7.1K −$1.24/SF
NOI
$40.0K $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%
$800,780
Cap Rate 7%
$571,986
Cap Rate 9%
$444,878
Alternative Uses
Best Use
Warehouse
$572.0K
$500.5K – $667.3K
NOI $40,039 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$471.0K
$412.2K – $549.6K
NOI $32,973 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,521 @ 7.0% cap · market cap 9.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99025, WA
5,272
Population
2,328
Households
2.3
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
45.8 sq mi
ZIP Area
115
Density / Sq Mi
$117,283
Median Household Income
$49,846
Median Earnings
$1,362
Median Rent
$458,100
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.
Frequently Asked Questions
What type of property is this?
Warehouse - 12.90 acre site with office and warehouse buildings.
Where is this warehouse located?
The property is located at 7902 N Starr Rd Newman Lake, WA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 12.90 acre site zoned Rural Traditional, ideal for a contractor.; Three buildings for Office and Warehouse operations: 2,280 SF Quonset, 2,160 SF Pole Building, and 1,280 SF Residential House/Office.; Large yard space suitable for storing materials and equipment.
