Flex Space with Office
For Sale
Contact for pricing
1505 E SPOKANE, Spokane, WA 99301
Shop access, established office areas, and ductless systems support a range of business operations.
Property Size2,800 SF
Lot Size0.44 Acres
Price / SF$1.39
Days on Market209
Property Features for 1505 E SPOKANE
General Information
Standard status
Active
Size
2,800 SF
Lot size
0.44 Acres
Property subtype
Industrial
Site & Location
Neighborhood
Latah/Hangman
Taxes and HOA fees
Annual Taxes
$5,142
Building Details
Building Size
2,800 SF
Year Built
2025
Buildings
1
Construction
stucco
Listing Agency:
EXP Realty, LLC Tri Cities
Listed By:
Miguel Orozco · License #22001183
(509) 439-7003
Source:
Desertedgerealtygroup
Added: Apr 3
Changed: Oct 28
Last Checked: Oct 26 at 3:53PM
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 EXP Realty, LLC Tri Cities
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2025, this 2,800-square-foot flex building occupies a 0.44-acre lot. Office areas are already in place, and large shop doors provide access to the work area. Ductless systems serve the building, while a stucco exterior and asphalt parking lot complete the improvements.
Key Highlights
- 2,800‑square‑foot flex building built in 2025
- 0.44‑acre lot
- Large shop doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,127
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,540
$302.5K
Cap Rate 7%
$216,100
$216.1K
Cap Rate 9%
$168,078
$168.1K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$24.9K $8.88/SF
− Vacancy
−$1.6K −$0.57/SF
EGI
$23.3K $8.31/SF
− OpEx
−$8.1K −$2.91/SF
NOI
$15.1K $5.40/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,540
Cap Rate 7%
$216,100
Cap Rate 9%
$168,078
Alternative Uses
Best Use
Industrial
$232.7K
$203.6K – $271.5K
NOI $16,291 @ 7.0% cap · market cap 417.72%
Second Best
Flex RnD
$216.1K
$189.1K – $252.1K
NOI $15,127 @ 7.0% cap · market cap 387.87%
Theoretical Best
Office A
$722.4K
$632.1K – $842.8K
NOI $50,568 @ 7.0% cap · market cap 1,296.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
4,394
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 99301, WA
85,272
Population
27,700
Households
3.1
Avg Household Size
31
Median Age
21%
College-Educated
77%
High-School Grad
486.3 sq mi
ZIP Area
175
Density / Sq Mi
$82,517
Median Household Income
$41,409
Median Earnings
$1,195
Median Rent
$353,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Red Rock Catering — 321 W 8th Ave, Spokane, WA 99204
- Pasefika Sweet & Savory — 522 W Riverside Ave Suite 4336, Spokane, WA 99201
- Just A Couple Of Moms Catering — 120 N Stevens St, Spokane, WA 99201
- Nectar Catering and Events — 120 N Stevens St, Spokane, WA 99201
Frequently Asked Questions
What type of property is this?
Flex space - Shop access, established office areas, and ductless systems support a range of business operations.
Where is this flex space located?
The property is located at 1505 E SPOKANE Spokane, WA.
What are key features of this property?
This property features: 2,800‑square‑foot flex building built in 2025; 0.44‑acre lot; Large shop doors
