For Sale
$225,000
1551 Deer Heights Rd, Spokane, WA 99224
Automotive space with lift, clubhouse access, near Hwy 2.
Property Size1,200 SF
Lot Size0.03 Acres
Price / SF$187.50
Days on Market175
Property Features for 1551 Deer Heights Rd
General Information
Standard status
Active
Property type
Auto shops, Automotive properties, Retail properties & Spaces, Commercial real estate
Size
1,200 SF
Lot size
0.03 Acres
Building Details
Year Built
2023
Listed By:
Eurtis Henry
(832) 760-0019
Added: Apr 15
Changed: Jun 29
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,451
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,020
$249.0K
Cap Rate 7%
$177,871
$177.9K
Cap Rate 9%
$138,344
$138.3K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$19.4K $16.20/SF
− Vacancy
−$1.7K −$1.38/SF
EGI
$17.8K $14.82/SF
− OpEx
−$5.3K −$4.45/SF
NOI
$12.5K $10.38/SF
Area
Spokane, WA
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,020
Cap Rate 7%
$177,871
Cap Rate 9%
$138,344
Alternative Uses
Best Use
Retail
$177.9K
$155.6K – $207.5K
NOI $12,451 @ 7.0% cap · market cap 5.53%
Second Best
Industrial
$99.7K
$87.3K – $116.4K
NOI $6,982 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$309.6K
$270.9K – $361.2K
NOI $21,672 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
202
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99224, WA
24,085
Population
10,559
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
96%
High-School Grad
118.8 sq mi
ZIP Area
203
Density / Sq Mi
$76,785
Median Household Income
$50,678
Median Earnings
$1,290
Median Rent
$439,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive space with lift, clubhouse access, near Hwy 2.
Where is this auto shop located?
The property is located at 1551 Deer Heights Rd Spokane, WA.
What is the asking price?
The asking price for this property is $225,000.
