Corner Office Building with CMU
For Sale
Contact for pricing
12308 E Broadway Ave, Spokane Valley, WA 99206
Corner office building on a 0.54-acre lot in CMU Corridor Mixed Use zoning with access from Pines Road and Broadway Avenue.
Property Size6,624 SF
Lot Size0.54 Acres
Price / SF$139.64
Days on Market571
Property Features for 12308 E Broadway Ave
General Information
Standard status
Active
Size
6,624 SF
Lot size
0.54 Acres
Property subtype
OFFICE
Zoning
CMU
Additional Details
Road Access
Yes
Building Details
Year Built
1976
Buildings
1
Listing Agency:
Kiemle Hagood
(509) 755-7542
Listed By:
Tim Kestell · License #84800
(509) 755-7542
Source:
Moodyscre
Added: Jan 12, 2025
Changed: Jul 31
Last Checked: Aug 6 at 7:52AM
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.
The property includes a 6,624 SF building on a 0.54-acre lot (12,374 SF). Built in 1976, it offers a corner configuration with visibility and access from both Pines Road and Broadway Avenue. The zoning is CMU (Corridor Mixed Use), supporting a range of uses for either immediate occupancy or redevelopment planning.
Situated at the intersection of Pines Road and Broadway Avenue, the location is positioned for convenient street access from two directions. The property’s corner setting helps provide straightforward ingress and egress for users and visitors tied to the site.
With its CMU zoning, defined parcel, and practical corner layout, the building and lot can support owner-user or redevelopment considerations within a corridor mixed-use framework.
Situated at the intersection of Pines Road and Broadway Avenue, the location is positioned for convenient street access from two directions. The property’s corner setting helps provide straightforward ingress and egress for users and visitors tied to the site.
With its CMU zoning, defined parcel, and practical corner layout, the building and lot can support owner-user or redevelopment considerations within a corridor mixed-use framework.
Key Highlights
- 6,624 SF office building built in 1976
- 0.54‑acre lot (12,374 SF)
- CMU Corridor Mixed Use zoning
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
$70,943
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
7.67%
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%
$1,418,860
$1.4M
Cap Rate 7%
$1,013,471
$1.0M
Cap Rate 9%
$788,256
$788.3K
Market Conditions
NOI Build-Up for 6,624 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
$111.3K $16.80/SF
− Vacancy
−$16.7K −$2.52/SF
EGI
$94.6K $14.28/SF
− OpEx
−$23.6K −$3.57/SF
NOI
$70.9K $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 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%
$1,418,860
Cap Rate 7%
$1,013,471
Cap Rate 9%
$788,256
Alternative Uses
Best Use
Office B
$1.01M
$886.8K – $1.18M
NOI $70,943 @ 7.0% cap · market cap 7.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,727 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
732
Businesses Nearby
Explore this area
Business Placement
Demographics for 99206, WA
39,842
Population
17,339
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
95%
High-School Grad
23.4 sq mi
ZIP Area
1,703
Density / Sq Mi
$75,538
Median Household Income
$42,018
Median Earnings
$1,174
Median Rent
$362,100
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner office building on a 0.54-acre lot in CMU Corridor Mixed Use zoning with access from Pines Road and Broadway Avenue.
Where is this office building located?
The property is located at 12308 E Broadway Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 6,624 SF office building built in 1976; 0.54‑acre lot (12,374 SF); CMU Corridor Mixed Use zoning
