Warehouse with Loading
For Sale
Contact for pricing
1108-1110 W 2nd Ave, Spokane, WA 99201
Warehouse space offers up to 15' clearance, full HVAC, and a loading dock with two overhead doors.
Property Size10,450 SF
Price / SF$86.12
Days on Market1805
Property Features for 1108-1110 W 2nd Ave
General Information
Standard status
Active
Size
10,450 SF
Total Parking Spaces
10
Property subtype
FLEX_R_AND_D
Zoning
DG
Warehouse & Industrial
Clear Height
15 ft
Dock-High Doors
2
Building Details
Construction
concrete block
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Tim Kestell · License #84800
(509) 755-7542
Source:
Moodyscre
Added: Oct 6, 2021
Changed: Sep 13
Last Checked: Sep 14 at 12:01PM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This warehouse property includes approximately 4,900 SF of warehouse area with up to about 15' clearance and full HVAC. The building uses solid concrete block construction and features a loading dock with two overhead doors measuring 10'H x 8'W each.
The property provides parking for 10 spaces. Zoning is listed as Downtown General (DG).
The property provides parking for 10 spaces. Zoning is listed as Downtown General (DG).
Key Highlights
- Warehouse area of +/- 4,900 SF with up to +/- 15' clearance
- Full HVAC in the warehouse area
- Loading dock with 2 overhead doors: 1 (10'H x 8'W) and 1 (10'H x 8'W)
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
$68,262
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
7.58%
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%
$1,365,240
$1.4M
Cap Rate 7%
$975,171
$975.2K
Cap Rate 9%
$758,467
$758.5K
Market Conditions
NOI Build-Up for 10,450 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
$89.0K $8.52/SF
− Vacancy
−$8.7K −$0.83/SF
EGI
$80.3K $7.69/SF
− OpEx
−$12.0K −$1.15/SF
NOI
$68.3K $6.53/SF
Area
Spokane, WA
Vacancy
9.80%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
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%
$1,365,240
Cap Rate 7%
$975,171
Cap Rate 9%
$758,467
Alternative Uses
Best Use
Warehouse
$975.2K
$853.3K – $1.14M
NOI $68,262 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.70M
$2.36M – $3.15M
NOI $188,727 @ 7.0% cap · market cap 20.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
15 ft
Clear height
2
Dock-high doors
Location Intelligence
Trade Area within ½ mile
5,408
Businesses Nearby
Balanced
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Near2Me Storage Units — 1213 W Railroad Alley, Spokane, WA 99201
- Wall Street Storage — 124 S Wall St, Spokane, WA 99201
- storage pro — 124 s wall st, spokane, wa 99201
- National Storage Tank, Inc. — 707 West Main Avenue Suite B1 PMB 123, Spokane, WA 99201
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse space offers up to 15' clearance, full HVAC, and a loading dock with two overhead doors.
Where is this warehouse located?
The property is located at 1108-1110 W 2nd Ave Spokane, WA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Warehouse area of +/- 4,900 SF with up to +/- 15' clearance; Full HVAC in the warehouse area; Loading dock with 2 overhead doors: 1 (10'H x 8'W) and 1 (10'H x 8'W)
