Spokane Office Building For
1408 W Broadway Ave Spokane, WA 99201
1408 W Broadway Ave, Spokane, WA, 99201
Contact for pricing
For Sale
Contact for pricing
Office building in Spokane, Washington, available for sale or lease.
Property Size2,884 SF
Lot Size0.14 Acres
Price / SF$208.04
Days on Market858
Property Features for 1408 W Broadway Ave
General Information
- Standard status
- Active
- Size
- 2,884 SF
- Lot size
- 0.14 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1921
Listing Agency
Kiemle Hagood
(509) 862-5454
Listed by
Jay Carson · License #84224
Source
Crexi
Added: Mar 12, 2024 Checked: Jul 15 at 8:32 pm
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.
This commercial property, constructed in 1921, is available for sale or lease. The building has a size of approximately 2,884 square feet and is situated on a lot of approximately 6,000 square feet. The parcel number is 25131.4415. The sale price is $600,000 with a cap rate of 6.5%. For lease, the lease rate is negotiable with a full-service expense type. The total available square footage for lease is approximately 186 square feet.
Key Highlights
- Sale Price: $600,000
- Enjoy a Cap Rate of 6.5%
- Building Size: ±2,884 SF
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.0k | $22.20 |
| − Vacancy | −$9.0k | −$3.11 |
| EGI | $55.1k | $19.09 |
| − OpEx | −$13.8k | −$4.77 |
| NOI | $41.3k | $14.32 |
2,884 SF · lease $22.20/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$589.9K
$516.2K – $688.3K
NOI $41,296 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$744.1K
$651.1K – $868.1K
NOI $52,085 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Spokane Criminal Defense ...
Law Firm
Law Office of Roger ...
Law Firm
Stiley & Cikutovich PLLC
Law Firm
Justice on Broadway
Law Firm
GORDON R. STOA, ...
Law Firm
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FAQs
What type of property is this?
Office building - Office building in Spokane, Washington, available for sale or lease.
Where is this office building located?
The property is located at 1408 W Broadway Ave Spokane, WA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Sale Price: $600,000; Enjoy a Cap Rate of 6.5%; Building Size: ±2,884 SF
