Spokane Riverfront Office
For Sale
Contact for pricing
12939 E Pinecroft Way, Spokane Valley, WA 99216
Office building on the Spokane River, suitable for owner-user.
Property Size42,660 SF
Price / SF$233.24
Days on Market1131
Property Features for 12939 E Pinecroft Way
General Information
Standard status
Active
Size
42,660 SF
Class
A
Property subtype
Office
Investment Type
Owner/User
Building Details
Year Built
2018
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Leavitt Capital Companies
Listed By:
Marc Mowrer · License #WA
(509) 714-6464
Source:
Crexi
Added: Sep 14, 2023
Changed: Oct 15
Last Checked: Oct 16 at 7:31AM
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 Leavitt Capital Companies
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
River's Edge is suitable for either an owner-user or an investment. A national financial institution has occupied half of the building since its completion in 2018. The property is situated on the Spokane River. The vacant +/- 22,000 square foot first floor offers a tranquil, safe setting for a business. It is equidistant to Spokane and Coeur d'Alene, with convenient access to Interstate 90 and within a short drive to nearby amenities. The property has a total size of 42,660 square feet.
Key Highlights
- Built‑in income potential from existing tenant (national financial institution).
- +/- 22,000 SF first floor available for owner‑user or tenant.
- Built in 2018 (relatively new construction).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$456,889
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$9,137,780
$9.1M
Cap Rate 7%
$6,526,986
$6.5M
Cap Rate 9%
$5,076,544
$5.1M
Market Conditions
NOI Build-Up for 42,660 SF
Gross rent
$716.7K $16.80/SF
− Vacancy
−$107.5K −$2.52/SF
EGI
$609.2K $14.28/SF
− OpEx
−$152.3K −$3.57/SF
NOI
$456.9K $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%
$9,137,780
Cap Rate 7%
$6,526,986
Cap Rate 9%
$5,076,544
Alternative Uses
Best Use
Office B
$6.53M
$5.71M – $7.61M
NOI $456,889 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.27M
$8.11M – $10.81M
NOI $648,705 @ 7.0% cap · market cap 6.52%
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
Location Intelligence
Trade Area within ½ mile
308
Businesses Nearby
Explore this area
Business Placement
Demographics for 99216, WA
28,379
Population
12,703
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
1,999
Density / Sq Mi
$69,958
Median Household Income
$40,652
Median Earnings
$1,307
Median Rent
$336,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Office building on the Spokane River, suitable for owner-user.
Where is this office building located?
The property is located at 12939 E Pinecroft Way Spokane Valley, WA.
What is the asking price?
The asking price for this property is $9,950,000.
What are key features of this property?
This property features: Built‑in income potential from existing tenant (national financial institution).; +/- 22,000 SF first floor available for owner‑user or tenant.; Built in 2018 (relatively new construction).
