Industrial Property with Office and
For Sale
$1,499,000
1612 S Campbell St, Airway Heights, WA 99001
Three-building industrial site offers service and storage space with power, overhead doors, and a renovated office.
Property Size10,856 SF
Days on Market121
Property Features for 1612 S Campbell St
General Information
Standard status
Active
Size
10,856 SF
Class
C
Property subtype
Industrial - Warehouse/Distribution
Zoning
C-2
Building Details
Building Size
10,856 SF
Year Built
1985
Year Renovated
2000
Stories
1
Listing Agency:
Daines Capital
Listed By:
Seth Peterson
(509) 209-4920
Source:
Commercialcafe
Added: Jun 23
Changed: Oct 20
Last Checked: Oct 20 at 5:47PM
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 Daines Capital
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Investment Insights
Based on property information with market context.
The property consists of three separate buildings totaling approximately 10,856 square feet on about 1.03 acres. An 840-square-foot office building includes a bathroom with shower and is currently undergoing renovations with new paint, flooring, and roof improvements. The 7,016-square-foot service warehouse features 3-phase, 400-amp power, four 16' x 12' overhead doors, clear heights of approximately 13'10" to 13'14", two paint booths, gas heat, and a floor drain. A 3,000-square-foot storage warehouse includes 14 storage units.
The site is fully fenced with barbed wire and offers a secured yard setting for equipment and operational needs. The location provides quick access to Spokane International Airport, I-90, US-2, and Downtown Spokane.
This configuration can support contractors, service businesses, manufacturing, fleet operations, and equipment storage with on-site office space, functional warehouse features, and fenced security. Owner-users seeking an integrated warehouse and office arrangement may find the mix of service and storage buildings practical for day-to-day operations.
The site is fully fenced with barbed wire and offers a secured yard setting for equipment and operational needs. The location provides quick access to Spokane International Airport, I-90, US-2, and Downtown Spokane.
This configuration can support contractors, service businesses, manufacturing, fleet operations, and equipment storage with on-site office space, functional warehouse features, and fenced security. Owner-users seeking an integrated warehouse and office arrangement may find the mix of service and storage buildings practical for day-to-day operations.
Key Highlights
- Three‑building industrial property on approx. 1.03 acres with a total of 10,856 SFT
- 840 SFT office building with bathroom with shower; currently being renovated with new paint, flooring, and roof
- 7,016 SFT service warehouse with 3‑phase, 400‑amp power; four 16' x 12' overhead doors; clear heights approx. 13'10"–13'14"
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,989
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,780
$1.5M
Cap Rate 7%
$1,085,557
$1.1M
Cap Rate 9%
$844,322
$844.3K
Market Conditions
NOI Build-Up for 10,856 SF
Gross rent
$97.7K $9.00/SF
− Vacancy
−$8.3K −$0.77/SF
EGI
$89.4K $8.24/SF
− OpEx
−$13.4K −$1.24/SF
NOI
$76.0K $7.00/SF
Area
Spokane County, WA
Vacancy
8.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,519,780
Cap Rate 7%
$1,085,557
Cap Rate 9%
$844,322
Alternative Uses
Best Use
Warehouse
$1.09M
$949.9K – $1.27M
NOI $75,989 @ 7.0% cap · market cap 5.07%
Second Best
Flex RnD
$903.6K
$790.7K – $1.05M
NOI $63,254 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$2.51M
$2.19M – $2.93M
NOI $175,596 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
270
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 99001, WA
8,859
Population
2,739
Households
3.2
Avg Household Size
34
Median Age
18%
College-Educated
91%
High-School Grad
8.0 sq mi
ZIP Area
1,107
Density / Sq Mi
$60,182
Median Household Income
$34,200
Median Earnings
$1,271
Median Rent
$281,100
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Three-building industrial site offers service and storage space with power, overhead doors, and a renovated office.
Where is this flex space located?
The property is located at 1612 S Campbell St Airway Heights, WA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Three‑building industrial property on approx. 1.03 acres with a total of 10,856 SFT; 840 SFT office building with bathroom with shower; currently being renovated with new paint, flooring, and roof; 7,016 SFT service warehouse with 3‑phase, 400‑amp power; four 16' x 12' overhead doors; clear heights approx. 13'10"–13'14"
