Four-Wing Assisted Living
12322 N Ruby Rd, Spokane, WA 99218
For Sale
$4,300,000
State-certified Alzheimer’s care operation with a long-term tenant and full occupancy.
Property Size15,066 SF
Price / SF$285.41
Days on Market125
Property Features for 12322 N Ruby Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
kitchen
laundry
ADA bathrooms
office area
common area with fireplace and television
dining area
commercial kitchen
Building Details
Year Built
Stories
Tenancy
Listing Agency:
John L Scott, Spokane Valley
(509) 924-4200
Listed By:
Deborah Dyche
(509) 220-7973
Source:
Ericksrealty
Added: Jul 7
Changed: Nov 7
Last Checked: Nov 7 at 5:12PM
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 John L Scott, Spokane Valley
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Investment Insights
Based on property information with market context.
Built in 1999, this 15,066-square-foot assisted living facility is state-certified for Alzheimer’s care. Its layout comprises four wings, each with 10 beds across nine rooms, a kitchen, laundry area, ADA bathrooms, office space, a shared area with a fireplace and television, and a dining area. One wing has a remodeled kitchen equipped for facility-wide food preparation.
The property is fully occupied by a tenant with a 15-year occupancy history. The lease is structured as NNN and includes one remaining five-year option, with rent to be negotiated at the time of exercise. The offering carries a 6% cap rate.
The property is fully occupied by a tenant with a 15-year occupancy history. The lease is structured as NNN and includes one remaining five-year option, with rent to be negotiated at the time of exercise. The offering carries a 6% cap rate.
Key Highlights
- 15,066‑square‑foot assisted living facility built in 1999
- Four wings with 10 beds and 9 rooms apiece
- Each wing includes a kitchen, laundry, ADA bathrooms, office, common area, and dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$149,845
Cap Rate
3.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,996,900
$3.0M
Cap Rate 7%
$2,140,643
$2.1M
Cap Rate 9%
$1,664,944
$1.7M
Market Conditions
NOI Build-Up for 15,066 SF
Gross rent
$291.1K $19.32/SF
− Vacancy
−$18.6K −$1.24/SF
EGI
$272.4K $18.08/SF
− OpEx
−$122.6K −$8.14/SF
NOI
$149.8K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,996,900
Cap Rate 7%
$2,140,643
Cap Rate 9%
$1,664,944
Alternative Uses
Best Use
Apartment 5plus
$2.14M
$1.87M – $2.50M
NOI $149,845 @ 7.0% cap · market cap 3.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.89M
$3.40M – $4.53M
NOI $272,092 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 99218, WA
15,591
Population
6,464
Households
2.4
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
2,293
Density / Sq Mi
$73,723
Median Household Income
$40,854
Median Earnings
$1,147
Median Rent
$404,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Sarenac Home Care AFH — 119 E Salmon Ave, Spokane, WA 99218
- Assisted Transition of Spokane — 319 W Hastings Rd, Spokane, WA 99218
- Fairwood Retirement Village & Assisted Living — 312 W Hastings Rd, Spokane, WA 99218
- Fairwood Northridge LLC — 312 W Hastings Rd, Spokane, WA 99218
Frequently Asked Questions
What type of property is this?
Assisted living facility - State-certified Alzheimer’s care operation with a long-term tenant and full occupancy.
Where is this assisted living facility located?
The property is located at 12322 N Ruby Rd Spokane, WA.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 15,066‑square‑foot assisted living facility built in 1999; Four wings with 10 beds and 9 rooms apiece; Each wing includes a kitchen, laundry, ADA bathrooms, office, common area, and dining area
