Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    34 E Wellesley Ave Spokane, WA 99207

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Commercial property with visibility, accessibility, and ample parking.

    Building Details

    Year built
    1961

    We can help!

    Listing Contact
    Chris Bell, Sior
    Source: Naiglobal

    Listing Agent: Chris Bell, Sior

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Updated Retail/Flex Space in Spokane

    This commercial property, situated just south of the signalized intersection of Division Street and Wellesley Avenue, offers approximately 4,186 sq ft of space. Located in one of North Spokane’s busiest corridors, the property benefits from excellent visibility and accessibility. Built in 1961 and recently updated, the building features a flexible layout and ample parking at the front of the site. It is well-suited for retail or service-oriented tenants. The property is located directly across from the major regional retail destination NorthTown Mall and benefits from substantial traffic counts. The lot size is approximately 10,064 SF (.23 Acre). Additional features include large storefront windows and alley access in the rear. There is a drive-thru window on the west side of the building.
    Location Intelligence

    Current Use by Public Records

    Master Nails Nail Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4098571
    Latitude
    47.7004591

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      Spokane Washington Trust

      All-inclusive access to workspace, virtual office and meeting rooms in 505 Montgomery
      601 1St Ave, Spokane, WA 99201
      View Details
    • $1.00 SF/Yr
      43,200 SF

      High-Clearance Warehouse with Freeway Access

      Functional warehouse near I-90, suitable for various industrial uses.
      8579 W Westbow Blvd, Spokane, WA 99224
      View Details
    • $1,611 /Mo
      36,180 SF

      Adaptable Office Space in Spokane

      1,173 SF office space in central Spokane location.
      222 W Mission Ave, Spokane, WA 99201
      View Details
    • $20 SF/Yr
      4,335 SF

      Retail Space Near Grand Blvd

      Retail space with on-site parking near Grand Boulevard.
      1220 S Grand Blvd, Spokane, WA 99202
      View Details
    • $2,303 /Mo
      1,974 SF

      Retail Space in North Monroe

      Retail space in a prime North Monroe Business District location.
      3320 N Monroe St, Spokane, WA 99205
      View Details
    • $1,920 /Mo
      5,275 SF

      South Hill Retail or Office

      Corner lot location ideal for retail or office use.
      1001 W 25Th Ave, Spokane, WA 99203
      View Details
    • $18 SF/Yr
      3,330 SF

      Retail Space on N Division

      Retail space available for lease at N Division St corner.
      3220 N Division St, Spokane, WA 99207
      View Details
    • $14 SF/Yr
      27,000 SF

      Retail Space on North Division

      Retail space available in a shopping center with anchor tenants.
      7414 N Division St, Spokane, WA 99208
      View Details
    • $6,500 /Mo

      Functional Industrial/Retail Space in Spokane

      Two-bay shop with secured yard in East Spokane.
      4228 E Wellesley Ave, Spokane, WA 99217
      View Details
    • $2,500 /Mo

      Functional Industrial Warehouse in Spokane

      Efficient industrial space with vehicle lifts and updated roof.
      5202 N Nevada St, Spokane, WA 99207
      View Details
    • $3,500 /Mo

      Riverside Avenue Retail/Office/Showroom Space

      4,200 SF space ideal for retail, office, or showroom.
      226 W Riverside Ave, Spokane, WA 99201
      View Details
    • $5,122 /Mo

      Retail/Warehouse Space Near Downtown Spokane

      3,750 SF retail/warehouse space near downtown Spokane.
      1303 N Washington St, Spokane, WA 99201
      View Details

    FAQs

    What type of property is this?
    Retail space - Commercial property with visibility, accessibility, and ample parking.
    Where is this retail space located?
    The property is located at 34 E Wellesley Ave Spokane, WA.
    What are key features of this property?
    This property features: - Excellent visibility and accessibility on Division Street and Wellesley Avenue, a high-traffic corridor.; - Located directly across from NorthTown Mall, a major regional retail destination.; - Ample parking at the front of the site.
    (509) 954-2001
    Request Owner's contact information
    34 E Wellesley Ave Spokane, WA 99207
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    34 E Wellesley Ave
    Spokane, WA 99207
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    34 E Wellesley Ave Spokane, WA 99207
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Chris Bell, Sior
    (509) 954-2001
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!