Mixed-Use Building in Perry
For Sale
$3,200,000
907 South Perry Street, Spokane, WA 99202
Two-story building with medical, office, and retail potential.
Property Size11,980 SF
Price / SF$267.11
Days on Market195
Property Features for 907 South Perry Street
General Information
Standard status
Active
Size
11,980 SF
Property subtype
Mixed-Use Medical/Office/Retail Building
Building Details
Building Size
11,980 SF
Listing Agency:
Black Commercial, Inc.
Listed By:
Jon Jeffreys, SIOR
(509) 622-3566
Source:
Naiblack
Added: Mar 27
Changed: Oct 3
Last Checked: Oct 5 at 5:15PM
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.
Investment Insights
Based on property information with market context.
This two-story mixed-use building, with a size of 11,980 square feet, offers potential for medical office, professional office, and retail uses. The second floor is partially configured as an Ambulatory Surgery Center. The property is located in the Perry District, offering excellent visibility and accessibility within a walkable community setting. The zoning is CC1-NC, and the parcel number is 35213.2411.
Key Highlights
- Highly desirable Perry District location with excellent visibility and accessibility.
- Mixed‑use building with medical office, professional office, and retail potential.
- Building size: 11,980 +/- SF.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$171,542
Cap Rate
5.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,430,840
$3.4M
Cap Rate 7%
$2,450,600
$2.5M
Cap Rate 9%
$1,906,022
$1.9M
Market Conditions
NOI Build-Up for 11,980 SF
Gross rent
$266.0K $22.20/SF
− Vacancy
−$37.2K −$3.11/SF
EGI
$228.7K $19.09/SF
− OpEx
−$57.2K −$4.77/SF
NOI
$171.5K $14.32/SF
Area
Spokane, WA
Vacancy
14.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,430,840
Cap Rate 7%
$2,450,600
Cap Rate 9%
$1,906,022
Alternative Uses
Best Use
Office B
$2.45M
$2.14M – $2.86M
NOI $171,542 @ 7.0% cap · market cap 5.36%
Second Best
Healthcare Medical
$2.21M
$1.93M – $2.58M
NOI $154,743 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$3.09M
$2.70M – $3.61M
NOI $216,359 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story building with medical, office, and retail potential.
Where is this mixed-use property located?
The property is located at 907 South Perry Street Spokane, WA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Highly desirable Perry District location with excellent visibility and accessibility.; Mixed‑use building with medical office, professional office, and retail potential.; Building size: 11,980 +/- SF.
