Office Warehouse Flex
For Sale
$895,000
9629 N Colfax Rd, Spokane, WA 99218
Renovated office space and warehouse with a fully fenced yard, overhead door, and 20 parking stalls.
Property Size2,948 SF
Days on Market98
Property Features for 9629 N Colfax Rd
General Information
Standard status
Active
Size
2,948 SF
Class
B
Property subtype
Industrial - Warehouse/Distribution
Zoning
GC
Building Details
Building Size
2,948 SF
Year Built
1997
Listing Agency:
Daines Capital
Listed By:
Seth Peterson
(509) 209-4920
Source:
Commercialcafe
Added: Jul 3
Changed: Oct 5
Last Checked: Oct 7 at 9:13AM
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 Daines Capital
Investment Insights
Based on property information with market context.
This office, warehouse, and fenced yard property offers a combined workspace configuration with approximately 1,982 square feet of professional office and 966 square feet of warehouse. The office building has recently undergone interior renovations and includes five private offices, two restrooms, updated finishes, and abundant natural light. The warehouse features a 10' x 12' overhead door, 13'9" clear height, and 200-amp electrical service to support a range of operational needs. A fully fenced yard area on the property provides secure outdoor storage, along with approximately 20 parking stalls.
Located near Division Street, Newport Highway, and major North Spokane retailers, the property provides practical access to Downtown Spokane, Mead, Spokane Valley, and surrounding markets.
The existing month-to-month tenancy offers flexibility for owner-users or investors seeking a value-add opportunity.
Located near Division Street, Newport Highway, and major North Spokane retailers, the property provides practical access to Downtown Spokane, Mead, Spokane Valley, and surrounding markets.
The existing month-to-month tenancy offers flexibility for owner-users or investors seeking a value-add opportunity.
Key Highlights
- 0.84‑acre property with 2,948 SF total: 1,982 SF professional office and 966 SF warehouse
- Renovated office with five private offices, two restrooms, updated finishes, and abundant natural light
- Warehouse features a 10' x 12' overhead door, 13'9" clear height, and 200‑amp electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,212
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$844,240
$844.2K
Cap Rate 7%
$603,029
$603.0K
Cap Rate 9%
$469,022
$469.0K
Market Conditions
NOI Build-Up for 2,948 SF
Gross rent
$65.4K $22.20/SF
− Vacancy
−$9.2K −$3.11/SF
EGI
$56.3K $19.09/SF
− OpEx
−$14.1K −$4.77/SF
NOI
$42.2K $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%
$844,240
Cap Rate 7%
$603,029
Cap Rate 9%
$469,022
Alternative Uses
Best Use
Office B
$603.0K
$527.7K – $703.5K
NOI $42,212 @ 7.0% cap · market cap 4.72%
Second Best
Warehouse
$275.1K
$240.7K – $321.0K
NOI $19,257 @ 7.0% cap · market cap 2.15%
Theoretical Best
Office A
$760.6K
$665.5K – $887.4K
NOI $53,241 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,088
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated office space and warehouse with a fully fenced yard, overhead door, and 20 parking stalls.
Where is this flex space located?
The property is located at 9629 N Colfax Rd Spokane, WA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 0.84‑acre property with 2,948 SF total: 1,982 SF professional office and 966 SF warehouse; Renovated office with five private offices, two restrooms, updated finishes, and abundant natural light; Warehouse features a 10' x 12' overhead door, 13'9" clear height, and 200‑amp electrical service
