Automotive Service and Office
For Sale
$2,950,000
902 N Monroe St. & 918 W Mallon Ave., Spokane, WA 99201
For sale automotive property offering flexible space for service, showroom, and office-oriented users.
Property Size17,840 SF
Price / SF$165.36
Days on Market84
Property Features for 902 N Monroe St. & 918 W Mallon Ave.
General Information
Standard status
Active
Size
17,840 SF
Property subtype
Mixed-Use Showroom, Auto Shop & Office Building
Building Details
Building Size
17,840 SF
Year Built
1919
Listing Agency:
Black Commercial, Inc.
(509) 499-1370
Listed By:
Jeff McGougan
(509) 499-1370
Source:
Naiblack
Added: Jun 2
Changed: Aug 14
Last Checked: Aug 24 at 4:50AM
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 for-sale automotive service and office building totals 17,840 SF +/- and is positioned to support a range of automotive- and business-focused uses. The property’s mix of auto shops, office spaces, and showrooms in the available property types makes it a practical option for operators seeking a single building to accommodate day-to-day work and customer-facing functions.
The building is offered at 902 N Monroe St. & 918 W Mallon Ave. in Spokane, WA 99201. With street-front access through two addresses, the site can be considered by tenants and buyers looking for a straightforward, adaptable setup in an established commercial market.
From a tenant perspective, the configuration can work for automotive service operations, showroom users, and office tenants that need space within the same envelope. For buyers, it may be evaluated as a flexible CRE asset suited to automotive-related businesses or a mixed-use approach among compatible office and retail-oriented functions.
The building is offered at 902 N Monroe St. & 918 W Mallon Ave. in Spokane, WA 99201. With street-front access through two addresses, the site can be considered by tenants and buyers looking for a straightforward, adaptable setup in an established commercial market.
From a tenant perspective, the configuration can work for automotive service operations, showroom users, and office tenants that need space within the same envelope. For buyers, it may be evaluated as a flexible CRE asset suited to automotive-related businesses or a mixed-use approach among compatible office and retail-oriented functions.
Key Highlights
- 17,840 SF +/- automotive property with flexible space for service, showroom, and office‑oriented use
- Built in 1919
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
$185,110
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
6.27%
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%
$3,702,200
$3.7M
Cap Rate 7%
$2,644,429
$2.6M
Cap Rate 9%
$2,056,778
$2.1M
Market Conditions
NOI Build-Up for 17,840 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
$289.0K $16.20/SF
− Vacancy
−$24.6K −$1.38/SF
EGI
$264.4K $14.82/SF
− OpEx
−$79.3K −$4.45/SF
NOI
$185.1K $10.38/SF
Area
Spokane, WA
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$3,702,200
Cap Rate 7%
$2,644,429
Cap Rate 9%
$2,056,778
Alternative Uses
Best Use
Retail
$2.64M
$2.31M – $3.09M
NOI $185,110 @ 7.0% cap · market cap 6.27%
Second Best
Industrial
$1.48M
$1.30M – $1.73M
NOI $103,796 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$4.60M
$4.03M – $5.37M
NOI $322,190 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,657
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Automotive Jobbers Supply Co — 125 S Walnut St, Spokane, WA 99201
- Glass America — 1318 W 2nd Ave, Spokane, WA 99201
- Mechanics Pride Tire & Automotive Inc — 1126 W 2nd Ave, Spokane, WA 99201
- Jaguar Spokane Service Center — 1310 W 3rd Ave suite a, Spokane, WA 99201
- Gerber Collision & Glass — 1318 W 2nd Ave, Spokane, WA 99201
Frequently Asked Questions
What type of property is this?
Auto shop - For sale automotive property offering flexible space for service, showroom, and office-oriented users.
Where is this auto shop located?
The property is located at 902 N Monroe St. & 918 W Mallon Ave. Spokane, WA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 17,840 SF +/- automotive property with flexible space for service, showroom, and office‑oriented use; Built in 1919
