Multifamily
For Sale
$1,795,000
1515 Sharp, Spokane, WA 99201
The property has LI zoning and paved exterior areas.
Property Size10,944 SF
Price / SF$164.02
Days on Market15
Property Features for 1515 Sharp
General Information
Standard status
Active
Size
10,944 SF
Property subtype
Multi Family Home
Site & Location
Neighborhood
West Central
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,287
Amenities
0.00
Building Details
Year Built
1977
Listing Agency:
SVN Cornerstone Commercial
Listed By:
Jordan Lester · License #21008495
(509) 496-6922
Source:
Clearwaterproperties
Added: Oct 19
Changed: Nov 1
Last Checked: Nov 1 at 4:45AM
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 SVN Cornerstone Commercial
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Investment Insights
Based on property information with market context.
This 10,944-square-foot multifamily property was built in 1977. Interior features include electric floor furnace heating, and the exterior includes paved areas. The property is zoned LI.
At 1515 Sharp in Spokane, the site is reached from I-90 via exit 280 for Maple Street, then W Sharp Avenue. It is located between Ash and Walnut streets, minutes from Downtown Spokane and Kendall Yards.
At 1515 Sharp in Spokane, the site is reached from I-90 via exit 280 for Maple Street, then W Sharp Avenue. It is located between Ash and Walnut streets, minutes from Downtown Spokane and Kendall Yards.
Key Highlights
- 10,944‑square‑foot multifamily property
- Built in 1977
- LI zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,848
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,176,960
$2.2M
Cap Rate 7%
$1,554,971
$1.6M
Cap Rate 9%
$1,209,422
$1.2M
Market Conditions
NOI Build-Up for 10,944 SF
Gross rent
$211.4K $19.32/SF
− Vacancy
−$13.5K −$1.24/SF
EGI
$197.9K $18.08/SF
− OpEx
−$89.1K −$8.14/SF
NOI
$108.8K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,176,960
Cap Rate 7%
$1,554,971
Cap Rate 9%
$1,209,422
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,848 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,649 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,372
Businesses Nearby
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - The property has LI zoning and paved exterior areas.
Where is this multifamily property located?
The property is located at 1515 Sharp Spokane, WA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 10,944‑square‑foot multifamily property; Built in 1977; LI zoning
