Mixed-Use Property with Historic
For Sale
$939,000
1625 S Hayford Rd, Spokane, WA 99224
Commercial Sale, Spokane, WA
Property Size6,056 SF
Lot Size4.39 Acres
Price / SF$155.05
Days on Market48
Property Features for 1625 S Hayford Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Basement
Full, Unfinished
Lot features
Level, Open Lot, Horses Allowed
View
Territorial
Elementary school district
Cheney
Directions
GPS works great
Standard status
Active
APN
25302.0109
Size
6,056 SF
Lot size
4.39 Acres
Utilities
Heating system
Electric (Heating), Oil, Hot Water(Heating)
Building Details
Year built
1910
Building materials
Stone Veneer, Fiber Cement
Roof type
Composition
Listing Agency:
Engel & Volkers Western Frontier
Listed By:
Carly Sweet
(509) 232-3021
Added: Sep 11
Changed: Oct 19
Last Checked: Oct 28 at 12:06PM
MLS# 202624128
Copyright © 2026 Spokane Association of REALTORS®. 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 mixed-use property comprises 4.39 acres with a 6,056-square-foot Hazelwood Farms residence built in 1910. The existing structure features stone veneer and fiber cement construction, composition roofing, and oil, hot water, and electric heating systems. Interior spaces include preserved early-century details and updates, while the surrounding grounds provide room for potential parking, outdoor use, storage, expansion, or phased development.
The property is located at 1625 S Hayford Rd in Spokane, Washington, within C2 zoning. The existing improvement and acreage may support an owner-user, live-work arrangement, office conversion, specialty business, or other commercial concept, subject to applicable approvals and buyer verification of permitted uses, utilities, access, and development potential.
The property is located at 1625 S Hayford Rd in Spokane, Washington, within C2 zoning. The existing improvement and acreage may support an owner-user, live-work arrangement, office conversion, specialty business, or other commercial concept, subject to applicable approvals and buyer verification of permitted uses, utilities, access, and development potential.
Key Highlights
- 4.39‑acre C2‑zoned mixed‑use property
- 6,056‑square‑foot Hazelwood Farms residence
- Existing structure built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,331
Cap Rate
7.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,446,620
$1.4M
Cap Rate 7%
$1,033,300
$1.0M
Cap Rate 9%
$803,678
$803.7K
Market Conditions
NOI Build-Up for 6,056 SF
Gross rent
$127.2K $21.00/SF
− Vacancy
−$11.4K −$1.89/SF
EGI
$115.7K $19.11/SF
− OpEx
−$43.4K −$7.17/SF
NOI
$72.3K $11.94/SF
Area
Spokane, WA
Vacancy
9.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,446,620
Cap Rate 7%
$1,033,300
Cap Rate 9%
$803,678
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.45M
NOI $86,716 @ 7.0% cap · market cap 9.23%
Second Best
Mixed Use
$1.03M
$904.1K – $1.21M
NOI $72,331 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,371 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
221
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - C2-zoned grounds include an existing residence with potential for commercial, live-work, office, or specialty-business use, subject to approvals.
Where is this mixed-use property located?
The property is located at 1625 S Hayford Rd Spokane, WA.
What is the asking price?
The asking price for this property is $939,000.
What are key features of this property?
This property features: 4.39‑acre C2‑zoned mixed‑use property; 6,056‑square‑foot Hazelwood Farms residence; Existing structure built in 1910
