Land with 24x30
For Sale
$125,000
13814 E Wellesley Ave, Spokane Valley, WA 99027
Spacious 0.26-acre lot featuring an existing 24x30 shop with roof-mounted solar panels.
Property Size720 SF
Lot Size0.26 Acres
Price / SF$173.61
Days on Market87
Property Features for 13814 E Wellesley Ave
General Information
Standard status
Active
Size
720 SF
Lot size
0.26 Acres
Property subtype
Land
Listing Agency:
Avalon 24 Real Estate
(509) 710-1813
Listed By:
Zach Wimberly · License #23027227
(509) 710-1813
Source:
Exprealty
Added: May 18
Changed: Aug 8
Last Checked: Jul 4 at 3:39PM
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 Avalon 24 Real Estate
Investment Insights
Based on property information with market context.
This Spokane Valley property offers a spacious lot with no HOA restrictions or CCRs, providing flexibility for a variety of residential or investment plans. The site includes an existing 24x30 shop that can support storage, projects, or hobby use.
A key improvement is the shop’s roof-mounted solar panel system, and the structure is described as completely solar-panel ready for immediate hookup. The property is located near Plante’s Ferry Sports Complex and other Spokane Valley amenities.
With the combination of land and an on-site shop, the property is well suited for buyers looking for an immediately usable outbuilding as part of their overall development plans.
A key improvement is the shop’s roof-mounted solar panel system, and the structure is described as completely solar-panel ready for immediate hookup. The property is located near Plante’s Ferry Sports Complex and other Spokane Valley amenities.
With the combination of land and an on-site shop, the property is well suited for buyers looking for an immediately usable outbuilding as part of their overall development plans.
Key Highlights
- 0.26‑acre lot in Spokane Valley with no HOA restrictions or CCRs
- Existing 24x30 shop on‑site, suited for projects, storage, or hobbies
- Shop includes roof‑mounted solar panels
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
$4,703
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
3.76%
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%
$94,060
$94.1K
Cap Rate 7%
$67,186
$67.2K
Cap Rate 9%
$52,256
$52.3K
Market Conditions
NOI Build-Up for 720 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
$6.1K $8.52/SF
− Vacancy
−$601 −$0.83/SF
EGI
$5.5K $7.69/SF
− OpEx
−$830 −$1.15/SF
NOI
$4.7K $6.53/SF
Area
Spokane Valley, 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%
$94,060
Cap Rate 7%
$67,186
Cap Rate 9%
$52,256
Alternative Uses
Best Use
Warehouse
$67.2K
$58.8K – $78.4K
NOI $4,703 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$156.4K
$136.9K – $182.5K
NOI $10,949 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 99027, WA
6,556
Population
2,734
Households
2.4
Avg Household Size
48
Median Age
22%
College-Educated
91%
High-School Grad
15.5 sq mi
ZIP Area
423
Density / Sq Mi
$70,784
Median Household Income
$52,692
Median Earnings
$1,097
Median Rent
$368,400
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Spacious 0.26-acre lot featuring an existing 24x30 shop with roof-mounted solar panels.
Where is this residential land & home lot located?
The property is located at 13814 E Wellesley Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 0.26‑acre lot in Spokane Valley with no HOA restrictions or CCRs; Existing 24x30 shop on‑site, suited for projects, storage, or hobbies; Shop includes roof‑mounted solar panels
