Office and Retail
For Sale
Contact for pricing
1718 West Broadway Avenue, Spokane, WA 99201
Well-maintained building with ample onsite parking and visibility on Broadway Avenue for flexible office, retail, or professional use.
Property Size2,984 SF
Price / SF$199.40
Days on Market101
Property Features for 1718 West Broadway Avenue
General Information
Standard status
Active
Size
2,984 SF
Total Parking Spaces
23
Property subtype
Office, Retail
Zoning
CC1-NC
Building Details
Year Built
1986
Listing Agency:
Hawkins Edwards
Listed By:
Kevin Edwards · License #WA
(509) 939-8828
Source:
Crexi
Added: Jun 1
Changed: Sep 8
Last Checked: Sep 8 at 7:03AM
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 Hawkins Edwards
Investment Insights
Based on property information with market context.
This well-maintained commercial building offers a flexible setup suitable for office, retail, or professional services. The property is presented in a turnkey condition for owner-users and investors seeking a practical space that can support multiple commercial uses.
The building is located in the heart of Spokane near Kendall Yards. It features ample onsite parking and visibility along Broadway Avenue, supporting convenient customer and employee access.
From a tenant or buyer standpoint, the location and parking make it workable for a range of service and storefront concepts, while the property condition helps reduce initial occupancy friction. Whether you are evaluating space for your own operations or considering an acquisition with adaptable use, this building’s combination of visibility and onsite parking is a straightforward, marketable attribute.
The building is located in the heart of Spokane near Kendall Yards. It features ample onsite parking and visibility along Broadway Avenue, supporting convenient customer and employee access.
From a tenant or buyer standpoint, the location and parking make it workable for a range of service and storefront concepts, while the property condition helps reduce initial occupancy friction. Whether you are evaluating space for your own operations or considering an acquisition with adaptable use, this building’s combination of visibility and onsite parking is a straightforward, marketable attribute.
Key Highlights
- Built in 1986
- Well‑maintained building
- Ample onsite parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,728
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.18%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$854,560
$854.6K
Cap Rate 7%
$610,400
$610.4K
Cap Rate 9%
$474,756
$474.8K
Market Conditions
NOI Build-Up for 2,984 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$66.2K $22.20/SF
− Vacancy
−$9.3K −$3.11/SF
EGI
$57.0K $19.09/SF
− OpEx
−$14.2K −$4.77/SF
NOI
$42.7K $14.32/SF
Area
Spokane, WA
Vacancy
14.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$854,560
Cap Rate 7%
$610,400
Cap Rate 9%
$474,756
Alternative Uses
Best Use
Office B
$610.4K
$534.1K – $712.1K
NOI $42,728 @ 7.0% cap · market cap 7.18%
Second Best
Retail
$442.3K
$387.0K – $516.0K
NOI $30,962 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$769.9K
$673.6K – $898.2K
NOI $53,891 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,096
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Well-maintained building with ample onsite parking and visibility on Broadway Avenue for flexible office, retail, or professional use.
Where is this office building located?
The property is located at 1718 West Broadway Avenue Spokane, WA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Built in 1986; Well‑maintained building; Ample onsite parking
