Office Building Constructed in
For Sale
$895,900
1803 W 5th Ave, Spokane, WA 99201
Constructed in 2021, the property offers a dedicated office setting.
Property Size2,382 SF
Price / SF$376.11
Days on Market53
Property Features for 1803 W 5th Ave
General Information
Standard status
Active
Size
2,382 SF
Class
A
Property subtype
Office
Building Details
Building Size
2,382 SF
Year Built
2021
Listing Agency:
NAI Black - Spokane
Listed By:
Mark C. McLees
(509) 710-2819
Source:
Naiblack
Added: Aug 23
Changed: Oct 1
Last Checked: Oct 12 at 5:34PM
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 NAI Black - Spokane
Investment Insights
Based on property information with market context.
This office building contains approximately 2,382 square feet and was constructed in 2021. The property is located at 1803 W 5th Ave in Spokane, Washington.
Key Highlights
- Approximately 2,382 SF of building area
- Constructed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,108
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$682,160
$682.2K
Cap Rate 7%
$487,257
$487.3K
Cap Rate 9%
$378,978
$379.0K
Market Conditions
NOI Build-Up for 2,382 SF
Gross rent
$52.9K $22.20/SF
− Vacancy
−$7.4K −$3.11/SF
EGI
$45.5K $19.09/SF
− OpEx
−$11.4K −$4.77/SF
NOI
$34.1K $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 Rate 5%
$682,160
Cap Rate 7%
$487,257
Cap Rate 9%
$378,978
Alternative Uses
Best Use
Office B
$487.3K
$426.4K – $568.5K
NOI $34,108 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$614.6K
$537.7K – $717.0K
NOI $43,019 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,114
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Constructed in 2021, the property offers a dedicated office setting.
Where is this office building located?
The property is located at 1803 W 5th Ave Spokane, WA.
What is the asking price?
The asking price for this property is $895,900.
What are key features of this property?
This property features: Approximately 2,382 SF of building area; Constructed in 2021
