Mixed-Use Building with Retail
For Sale
$699,000
1722-1724 W Broadway Ave, Spokane, WA 99201
Four residential units accompany flexible ground-floor commercial area.
Property Size7,000 SF
Price / SF$199.71
Days on Market135
Property Features for 1722-1724 W Broadway Ave
General Information
Standard status
Active
Size
7,000 SF
Property subtype
Mixed Use Investment
Additional Details
Floor
Ground
Amenities
on-site coin-operated washer and dryer
Building Details
Building Size
7,000 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
Black Commercial, Inc.
Listed By:
Kayla Saunders, CCIM
(509) 622-3567
Source:
Naiblack
Added: Jun 2
Changed: Oct 12
Last Checked: Oct 12 at 5:33PM
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 Black Commercial, Inc.
Investment Insights
Based on property information with market context.
This mixed-use property contains four residential units alongside approximately 3,500 sq ft of vacant ground-level retail space. The residential component includes two one-bedroom units and two two-bedroom units, while the commercial area can be divided into two bays for separate leasing or reconfiguration.
Property improvements include updated plumbing and electrical systems, a membrane roof installed approximately seven years ago, and on-site shared laundry equipment. Built in 1910, the building combines established residential occupancy potential with vacant retail space that can support a range of future leasing configurations.
Property improvements include updated plumbing and electrical systems, a membrane roof installed approximately seven years ago, and on-site shared laundry equipment. Built in 1910, the building combines established residential occupancy potential with vacant retail space that can support a range of future leasing configurations.
Key Highlights
- Four residential units: two one‑bedroom and two two‑bedroom units
- Approximately 3,500 sq ft of vacant retail space
- Retail area can be divided into two bays
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,803
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$836,060
$836.1K
Cap Rate 7%
$597,186
$597.2K
Cap Rate 9%
$464,478
$464.5K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$73.5K $21.00/SF
− Vacancy
−$6.6K −$1.89/SF
EGI
$66.9K $19.11/SF
− OpEx
−$25.1K −$7.17/SF
NOI
$41.8K $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%
$836,060
Cap Rate 7%
$597,186
Cap Rate 9%
$464,478
Alternative Uses
Best Use
Mixed Use
$597.2K
$522.5K – $696.7K
NOI $41,803 @ 7.0% cap · market cap 5.98%
Second Best
Multifamily LT 5
$572.0K
$500.5K – $667.3K
NOI $40,038 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$903.0K
$790.1K – $1.05M
NOI $63,210 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Four residential units accompany flexible ground-floor commercial area.
Where is this mixed-use property located?
The property is located at 1722-1724 W Broadway Ave Spokane, WA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Four residential units: two one‑bedroom and two two‑bedroom units; Approximately 3,500 sq ft of vacant retail space; Retail area can be divided into two bays
