Flex Space with Shop
1505 E SPOKANE, Spokane, WA 99301
For Sale
Contact for pricing
Commercial Sale, Spokane, WA
Property Size2,800 SF
Lot Size0.44 Acres
Price / SF$1.39
Days on Market222
Property Features for 1505 E SPOKANE
General Information
Property type
Property subtype
Property condition
Zoning
Parking
Exterior features
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Utilities
Heating system
Cooling system
Water source
Building Details
Year built
Building materials
Roof type
Listing Agency:
EXP Realty, LLC Tri Cities
(888) 317-5197
Listed By:
Miguel Orozco · License WA #22001183
(509) 439-7003
Added: Apr 3
Changed: Oct 23
Last Checked: Nov 10 at 7:06PM
MLS# 291828
Copyright © 2026 PACMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This flex space comprises a 2,800-square-foot commercial building on 0.44 acres, with office areas already configured for business use. Large shop doors support equipment and vehicle access, while the stucco exterior and composition roof provide a durable commercial building envelope. The property is identified for COMMCL GENERAL zoning and is currently under construction.
Site improvements include a new asphalt parking lot with 25+ spaces. Interior comfort is supported by ductless wall units and zoned wall-furnace heating. Public water and electricity availability are listed among the property utilities. The building is offered for sale and is also available for lease.
Site improvements include a new asphalt parking lot with 25+ spaces. Interior comfort is supported by ductless wall units and zoned wall-furnace heating. Public water and electricity availability are listed among the property utilities. The building is offered for sale and is also available for lease.
Key Highlights
- 2,800‑square‑foot flex building on a 0.44‑acre lot
- 25+ parking spaces with a new asphalt lot
- Large shop doors and built‑in office areas
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
Warehouse
$261.3K
$228.6K – $304.8K
NOI $18,290 @ 7.0% cap
Second Best
Industrial
$232.7K
$203.6K – $271.5K
NOI $16,291 @ 7.0% cap
Theoretical Best
Office A
$722.4K
$632.1K – $842.8K
NOI $50,568 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Balanced
Demand for This Use
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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
$353,300
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Spokane, WA
Properties on Market for Flex space in Spokane
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
- Evolve Meal Prep — 110 S 4th Ave, Pasco, WA 99301
- Jocho's Taco Truck — 202 W Lewis St, Pasco, WA 99301
Frequently Asked Questions
What type of property is this?
Flex space - Includes built-in office areas, shop access, and zoned heating and cooling.
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 on a 0.44‑acre lot; 25+ parking spaces with a new asphalt lot; Large shop doors and built‑in office areas
