Two-Level Retail
For Sale
$2,650,000
11811 East 1st Avenue, Spokane Valley, WA 99212
Retail property arranged over two levels with a substantial leasable footprint.
Property Size21,528 SF
Price / SF$123.10
Days on Market50
Property Features for 11811 East 1st Avenue
General Information
Standard status
Active
Size
21,528 SF
Property subtype
Retail
Building Details
Building Size
21,528 SF
Year Built
1954
Stories
2
Listing Agency:
Black Commercial, Inc.
Listed By:
Greg Peach
(360) 600-6902
Source:
Naiglobal
Added: Sep 9
Last Checked: Oct 28 at 7:01AM
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 Black Commercial, Inc.
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Investment Insights
Based on property information with market context.
This retail property provides approximately 21,528 SF of gross leasable area distributed across two levels. The building was constructed in 1954 and is located at 11811 East 1st Avenue in Spokane Valley, Washington.
Key Highlights
- Approximately 21,528 SF of gross leasable area
- Two‑level retail configuration
- Constructed in 1954
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,642
Cap Rate
7.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,992,840
$4.0M
Cap Rate 7%
$2,852,029
$2.9M
Cap Rate 9%
$2,218,244
$2.2M
Market Conditions
NOI Build-Up for 21,528 SF
Gross rent
$310.0K $14.40/SF
− Vacancy
−$24.8K −$1.15/SF
EGI
$285.2K $13.25/SF
− OpEx
−$85.6K −$3.97/SF
NOI
$199.6K $9.27/SF
Area
Spokane Valley, WA
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,992,840
Cap Rate 7%
$2,852,029
Cap Rate 9%
$2,218,244
Alternative Uses
Best Use
Retail
$2.85M
$2.50M – $3.33M
NOI $199,642 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.68M
$4.09M – $5.46M
NOI $327,363 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
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Business Placement
Demographics for 99212, WA
21,672
Population
9,496
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
1,762
Density / Sq Mi
$66,250
Median Household Income
$39,829
Median Earnings
$1,184
Median Rent
$314,300
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - Retail property arranged over two levels with a substantial leasable footprint.
Where is this retail space located?
The property is located at 11811 East 1st Avenue Spokane Valley, WA.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Approximately 21,528 SF of gross leasable area; Two‑level retail configuration; Constructed in 1954
