Corner Office Building with CMU
12308 E Broadway Ave, Spokane Valley, WA 99206
For Sale
Contact for pricing
Corner office building on a 0.54-acre lot in CMU Corridor Mixed Use zoning with access from Pines Road and Broadway Avenue.
Property Size6,624 SF
Lot Size0.54 Acres
Price / SF$139.64
Days on Market667
Property Features for 12308 E Broadway Ave
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Additional Details
Road Access
Building Details
Year Built
Buildings
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Tim Kestell · License #84800
(509) 755-7542
Source:
Moodyscre
Added: Jan 12, 2025
Changed: Oct 25
Last Checked: Nov 8 at 7:36AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property includes a 6,624 SF building on a 0.54-acre lot (12,374 SF). Built in 1976, it offers a corner configuration with visibility and access from both Pines Road and Broadway Avenue. The zoning is CMU (Corridor Mixed Use), supporting a range of uses for either immediate occupancy or redevelopment planning.
Situated at the intersection of Pines Road and Broadway Avenue, the location is positioned for convenient street access from two directions. The property’s corner setting helps provide straightforward ingress and egress for users and visitors tied to the site.
With its CMU zoning, defined parcel, and practical corner layout, the building and lot can support owner-user or redevelopment considerations within a corridor mixed-use framework.
Situated at the intersection of Pines Road and Broadway Avenue, the location is positioned for convenient street access from two directions. The property’s corner setting helps provide straightforward ingress and egress for users and visitors tied to the site.
With its CMU zoning, defined parcel, and practical corner layout, the building and lot can support owner-user or redevelopment considerations within a corridor mixed-use framework.
Key Highlights
- 6,624 SF office building built in 1976
- 0.54‑acre lot (12,374 SF)
- CMU Corridor Mixed Use zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,943
Cap Rate
7.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,418,860
$1.4M
Cap Rate 7%
$1,013,471
$1.0M
Cap Rate 9%
$788,256
$788.3K
Market Conditions
NOI Build-Up for 6,624 SF
Gross rent
$111.3K $16.80/SF
− Vacancy
−$16.7K −$2.52/SF
EGI
$94.6K $14.28/SF
− OpEx
−$23.6K −$3.57/SF
NOI
$70.9K $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 Rate 5%
$1,418,860
Cap Rate 7%
$1,013,471
Cap Rate 9%
$788,256
Alternative Uses
Best Use
Office B
$1.01M
$886.8K – $1.18M
NOI $70,943 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,727 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
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
$362,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Spokane County, WA
Properties on Market for Office buildings in Spokane County
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Corner office building on a 0.54-acre lot in CMU Corridor Mixed Use zoning with access from Pines Road and Broadway Avenue.
Where is this office building located?
The property is located at 12308 E Broadway Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 6,624 SF office building built in 1976; 0.54‑acre lot (12,374 SF); CMU Corridor Mixed Use zoning
