Flex Office and Clear-Span
For Sale
$1,250,000
14 E Main Ave, Spokane, WA 99202
Mixed office and clear-span warehouse on a secured, fenced lot with controlled gate access and ample parking.
Property Size6,500 SF
Lot Size0.40 Acres
Price / SF$192.31
Days on Market85
Property Features for 14 E Main Ave
General Information
Standard status
Active
Size
6,500 SF
Class
C
Lot size
0.40 Acres
Property subtype
Office
Additional Details
Fenced Yard
Yes
Building Details
Building Size
6,500 SF
Year Built
1924
Listing Agency:
Goodale & Barbieri Company
Listed By:
Cory Barbieri · License #B92954
(509) 459-6109
Source:
Commercialcafe
Added: Jun 16
Changed: Sep 8
Last Checked: Aug 28 at 10:00AM
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 Goodale & Barbieri Company
Investment Insights
Based on property information with market context.
This flex property includes 2,800 square feet of office space and 3,700 square feet of clear-span warehouse space within a total interior footprint of 6,500 square feet. The site is set on a 0.4-acre lot and includes a secured yard with an iron fence and gate controlled access.
The property is located at 14 E Main Ave in Spokane’s East Central neighborhood. It is described as having a substantial footprint near the city center and is offered for sale.
For tenants and buyers seeking a combined office and warehouse configuration, the layout supports day-to-day business operations alongside warehouse storage within one building, with parking available on site.
The property is located at 14 E Main Ave in Spokane’s East Central neighborhood. It is described as having a substantial footprint near the city center and is offered for sale.
For tenants and buyers seeking a combined office and warehouse configuration, the layout supports day-to-day business operations alongside warehouse storage within one building, with parking available on site.
Key Highlights
- 6,500 SF total building with 2,800 SF office space and 3,700 SF clear span warehouse
- 0.4‑acre lot with ample on‑site parking for operations or tenants
- Secured fenced lot with iron fence and gate controlled access
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
$93,074
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
7.45%
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%
$1,861,480
$1.9M
Cap Rate 7%
$1,329,629
$1.3M
Cap Rate 9%
$1,034,156
$1.0M
Market Conditions
NOI Build-Up for 6,500 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
$144.3K $22.20/SF
− Vacancy
−$20.2K −$3.11/SF
EGI
$124.1K $19.09/SF
− OpEx
−$31.0K −$4.77/SF
NOI
$93.1K $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 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%
$1,861,480
Cap Rate 7%
$1,329,629
Cap Rate 9%
$1,034,156
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,074 @ 7.0% cap · market cap 7.45%
Second Best
Warehouse
$606.6K
$530.8K – $707.7K
NOI $42,460 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,390 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
4,720
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
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?
Flex space - Mixed office and clear-span warehouse on a secured, fenced lot with controlled gate access and ample parking.
Where is this flex space located?
The property is located at 14 E Main Ave Spokane, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6,500 SF total building with 2,800 SF office space and 3,700 SF clear span warehouse; 0.4‑acre lot with ample on‑site parking for operations or tenants; Secured fenced lot with iron fence and gate controlled access
