Two-Level Office
For Sale
$595,000
1320 North Atlantic Street, Spokane, WA 99201
Two floors with separate secure access and restrooms on each level for flexible office operations.
Property Size3,000 SF
Price / SF$198.33
Days on Market49
Property Features for 1320 North Atlantic Street
General Information
Standard status
Active
Size
3,000 SF
Class
B
Property subtype
Office
Building Details
Building Size
3,000 SF
Year Built
2000
Stories
2
Listing Agency:
SVN Cornerstone LLC
(509) 499-9229
Listed By:
Matthew Byrd · License #WA #44400
(509) 499-9229
Source:
Svncornerstone
Added: Jun 25
Changed: Aug 8
Last Checked: Aug 12 at 4:55AM
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 SVN Cornerstone LLC
Investment Insights
Based on property information with market context.
This two-level office building totals 3,000 square feet, with approximately 1,500 square feet on each floor. Access between levels is provided by an internal staircase, and each floor can be secured from the other, supporting operational separation. Men’s and women’s restrooms are available on each level, adding convenience for occupants and visitors.
The property is offered for sale as a commercial office asset in Spokane, WA. Its configuration supports a straightforward office layout across two floors, with the added benefit of internal connectivity while still allowing independent floor control.
For tenants, investors, or owner-occupants, the ability to secure each floor separately can be useful for dividing space by department, accommodating different users, or managing access more independently. With restrooms on both levels and a compact two-floor footprint, the property is designed for practical day-to-day office use.
The property is offered for sale as a commercial office asset in Spokane, WA. Its configuration supports a straightforward office layout across two floors, with the added benefit of internal connectivity while still allowing independent floor control.
For tenants, investors, or owner-occupants, the ability to secure each floor separately can be useful for dividing space by department, accommodating different users, or managing access more independently. With restrooms on both levels and a compact two-floor footprint, the property is designed for practical day-to-day office use.
Key Highlights
- 3,000 SF building on two levels (1,500 SF per floor)
- Internal staircase provides access between levels
- Each floor can be secured from the other for separate use
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
$42,957
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
7.22%
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%
$859,140
$859.1K
Cap Rate 7%
$613,671
$613.7K
Cap Rate 9%
$477,300
$477.3K
Market Conditions
NOI Build-Up for 3,000 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
$66.6K $22.20/SF
− Vacancy
−$9.3K −$3.11/SF
EGI
$57.3K $19.09/SF
− OpEx
−$14.3K −$4.77/SF
NOI
$43.0K $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 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%
$859,140
Cap Rate 7%
$613,671
Cap Rate 9%
$477,300
Alternative Uses
Best Use
Office B
$613.7K
$537.0K – $716.0K
NOI $42,957 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$774.0K
$677.3K – $903.0K
NOI $54,180 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,090
Businesses Nearby
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two floors with separate secure access and restrooms on each level for flexible office operations.
Where is this office building located?
The property is located at 1320 North Atlantic Street Spokane, WA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,000 SF building on two levels (1,500 SF per floor); Internal staircase provides access between levels; Each floor can be secured from the other for separate use
