Commercial Live-Work
For Sale
Contact for pricing
1321 W Northwest Blvd, Spokane, WA 99205
Well-maintained commercial building with newer roof, fresh paint, ramp, and off-street parking options.
Property Size1,541 SF
Price / SF$227.13
Days on Market206
Property Features for 1321 W Northwest Blvd
General Information
Standard status
Active
Size
1,541 SF
Property subtype
RETAIL
Site & Location
Neighborhood
Emerson/Garfield
Listing Agency:
Sarbora, Inc - Designed Real Estate
(260) 351-2174
Listed By:
Katy Azar · License #SP52947
(509) 768-7977
Source:
Moodyscre
Added: Apr 6
Changed: Oct 25
Last Checked: Oct 26 at 6:41PM
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 Sarbora, Inc - Designed Real Estate
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Investment Insights
Based on property information with market context.
This commercial building offers a flexible live-work and business layout, described as a turn-key spa option with two hair stations, a nail salon, and three upstairs spa rooms. The property is well maintained inside and out, with a newer roof installed within the last six months, fresh paint, and a ramp.
Located on Northwest Blvd in a high-traffic area with established businesses and surrounding neighborhoods. Parking is available with plenty of off-street spaces, along with some parking behind the building.
The seller notes the opportunity to purchase the building as a general commercial/business-zoned property, or as the provided spa configuration for an additional fee.
Located on Northwest Blvd in a high-traffic area with established businesses and surrounding neighborhoods. Parking is available with plenty of off-street spaces, along with some parking behind the building.
The seller notes the opportunity to purchase the building as a general commercial/business-zoned property, or as the provided spa configuration for an additional fee.
Key Highlights
- Commercial/business‑zoned building on very busy Northwest Blvd
- Option to buy building for $350,000 or purchase as a spa setup for $7,500 more
- Spa setup includes 2 hair stations, a nail salon, and 3 spa rooms upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,066
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,320
$441.3K
Cap Rate 7%
$315,229
$315.2K
Cap Rate 9%
$245,178
$245.2K
Market Conditions
NOI Build-Up for 1,541 SF
Gross rent
$34.2K $22.20/SF
− Vacancy
−$4.8K −$3.11/SF
EGI
$29.4K $19.09/SF
− OpEx
−$7.4K −$4.77/SF
NOI
$22.1K $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%
$441,320
Cap Rate 7%
$315,229
Cap Rate 9%
$245,178
Alternative Uses
Best Use
Office B
$315.2K
$275.8K – $367.8K
NOI $22,066 @ 7.0% cap · market cap 6.30%
Second Best
Mixed Use
$262.9K
$230.1K – $306.8K
NOI $18,405 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$397.6K
$347.9K – $463.8K
NOI $27,830 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
902
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
Median Home Value
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Hair by Claire — 1105 N Lincoln St, Spokane, WA 99201
- Elias Lu — 1212 N Post St, Spokane, WA 99201
- Healthy YOU — 731 W Indiana Ave, Spokane, WA 99205
- HealthSource of Spokane — 524 W Indiana Ave, Spokane, WA 99205
- Acupuncture Center For People — 1428 W Mansfield Ave, Spokane, WA 99205
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Well-maintained commercial building with newer roof, fresh paint, ramp, and off-street parking options.
Where is this spa & wellness property located?
The property is located at 1321 W Northwest Blvd Spokane, WA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Commercial/business‑zoned building on very busy Northwest Blvd; Option to buy building for $350,000 or purchase as a spa setup for $7,500 more; Spa setup includes 2 hair stations, a nail salon, and 3 spa rooms upstairs
