Building Details

Year built 1910

Listing Agency: Engel & Volkers Spokane · Engel & Völkers s***@engelvoelkers.com Show Phone

Listed By: Carly Sweet

Added: Sep 12 Changed: Oct 10 Last Checked: Oct 28 at 11:06AM

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MLS# 202624128

Copyright © 2026 Engel & Völkers. 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 4.39-acre mixed-use property includes a 6,056-square-foot residence built in 1910. The C-2 commercial zoning and existing improvements provide a distinctive setting for a live-work concept, office conversion, specialty business, or owner-user application, subject to applicable approvals and buyer verification. Interior spaces include preserved early-century details and updates, while the surrounding grounds offer room for parking, outdoor use, storage, expansion, or phased development.

Located at 1625 S Hayford Rd in Spokane, the property occupies a west-side commercial corridor within Spokane County. Potential redevelopment and permitted uses, along with utilities and access, should be independently verified. The property’s acreage, existing residence, and commercial zoning create a combination of land and improvements suited to multiple planning approaches.

Key Highlights

• 4.39 acres zoned C‑2 for commercial use
• 6,056‑square‑foot existing residence
• Built in 1910 with preserved early‑century details and updates

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

Is this asking price fair?

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 (±1% cap)

NOI $86,716 @ 7.0% cap · market cap 9.23%

Second Best

Mixed Use

$1.03M

$904.1K – $1.21M (±1% cap)

NOI $72,331 @ 7.0% cap · market cap 7.70%

Theoretical Best

Office A

$1.56M

$1.37M – $1.82M (±1% cap)

NOI $109,371 @ 7.0% cap · market cap 11.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Commercial land

Suggested Use

Top Pick Electrical Service Plumbing Service Locksmith Carpet & Flooring Store (Bike/Boat/Book/etc) Store Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

221

Businesses Nearby

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

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Historic residence with commercial zoning and flexible interior space for potential live-work or office use.

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 acres zoned C‑2 for commercial use; 6,056‑square‑foot existing residence; Built in 1910 with preserved early‑century details and updates