CMU-Zoned Office
For Sale
Contact for pricing
12121 E Broadway Ave, Spokane Valley, WA 99206
Built in 1985, this office property occupies a compact footprint within a center offering shared amenities.
Property Size4,621 SF
Lot Size0.09 Acres
Price / SF$227.22
Days on Market20
Property Features for 12121 E Broadway Ave
General Information
Standard status
Active
Size
4,621 SF
Lot size
0.09 Acres
Property subtype
OFFICE
Zoning
CMU
Building Details
Year Built
1985
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Tim Kestell · License #84800
(509) 755-7542
Source:
Moodyscre
Added: Aug 20
Changed: Sep 5
Last Checked: Sep 8 at 9:35AM
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 office building contains approximately 4,621 square feet and was constructed in 1985. The property occupies an approximately 0.09-acre lot, equivalent to about 3,835 square feet, providing a compact footprint for commercial operations. Its Corridor Mixed Use (CMU) zoning supports the property’s commercial setting.
Located at 12121 E Broadway Ave in Spokane Valley, the building is part of a center with shared amenities. The property is offered for sale or lease and may suit an owner-user, investor, or tenant seeking office space in an established commercial center.
Located at 12121 E Broadway Ave in Spokane Valley, the building is part of a center with shared amenities. The property is offered for sale or lease and may suit an owner-user, investor, or tenant seeking office space in an established commercial center.
Key Highlights
- Approximately 4,621 SF office building
- Corridor Mixed Use (CMU) zoning
- Built in 1985
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
$49,491
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
4.71%
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%
$989,820
$989.8K
Cap Rate 7%
$707,014
$707.0K
Cap Rate 9%
$549,900
$549.9K
Market Conditions
NOI Build-Up for 4,621 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
$77.6K $16.80/SF
− Vacancy
−$11.6K −$2.52/SF
EGI
$66.0K $14.28/SF
− OpEx
−$16.5K −$3.57/SF
NOI
$49.5K $10.71/SF
Area
Spokane Valley, WA
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$989,820
Cap Rate 7%
$707,014
Cap Rate 9%
$549,900
Alternative Uses
Best Use
Office B
$707.0K
$618.6K – $824.9K
NOI $49,491 @ 7.0% cap · market cap 4.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.00M
$878.4K – $1.17M
NOI $70,269 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,589
Businesses Nearby
Explore this area
Business Placement
Demographics for 99206, WA
39,842
Population
17,339
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
95%
High-School Grad
23.4 sq mi
ZIP Area
1,703
Density / Sq Mi
$75,538
Median Household Income
$42,018
Median Earnings
$1,174
Median Rent
$362,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Built in 1985, this office property occupies a compact footprint within a center offering shared amenities.
Where is this office building located?
The property is located at 12121 E Broadway Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Approximately 4,621 SF office building; Corridor Mixed Use (CMU) zoning; Built in 1985
