Mixed-Use Property with Commercial
New
For Sale
$625,000
19205 East Appleway Avenue, Spokane Valley, WA 99016
Existing mixed-use property providing a commercially oriented space within a structure built in 1956.
Property Size3,200 SF
Price / SF$195.31
Days on Market2
Property Features for 19205 East Appleway Avenue
General Information
Standard status
Active
Size
3,200 SF
Class
B
Property subtype
Office/Retail
Building Details
Building Size
3,200 SF
Year Built
1956
Listing Agency:
Black Commercial, Inc.
Listed By:
Bryan Walker
(509) 951-3669
Source:
Naiblack
Added: Sep 9
Last Checked: Sep 10 at 7:51AM
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 offers ± 3,200 SF of total usable space within a building constructed in 1956. The available information identifies the asset as a mixed-use property with retail-related classification, supporting consideration for commercial occupancy or ownership.
Key Highlights
- ± 3,200 SF of total usable space
- Building constructed in 1956
- Located at 19205 East Appleway Avenue, Spokane Valley, WA 99016
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
$34,944
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
5.59%
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%
$698,880
$698.9K
Cap Rate 7%
$499,200
$499.2K
Cap Rate 9%
$388,267
$388.3K
Market Conditions
NOI Build-Up for 3,200 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
$61.4K $19.20/SF
− Vacancy
−$5.5K −$1.73/SF
EGI
$55.9K $17.47/SF
− OpEx
−$21.0K −$6.55/SF
NOI
$34.9K $10.92/SF
Area
Spokane Valley, WA
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$698,880
Cap Rate 7%
$499,200
Cap Rate 9%
$388,267
Alternative Uses
Best Use
Mixed Use
$499.2K
$436.8K – $582.4K
NOI $34,944 @ 7.0% cap · market cap 5.59%
Second Best
Retail
$423.9K
$371.0K – $494.6K
NOI $29,676 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$695.1K
$608.3K – $811.0K
NOI $48,660 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 99016, WA
18,496
Population
8,004
Households
2.3
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
24.6 sq mi
ZIP Area
752
Density / Sq Mi
$94,253
Median Household Income
$56,661
Median Earnings
$1,715
Median Rent
$450,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Existing mixed-use property providing a commercially oriented space within a structure built in 1956.
Where is this mixed-use property located?
The property is located at 19205 East Appleway Avenue Spokane Valley, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: ± 3,200 SF of total usable space; Building constructed in 1956; Located at 19205 East Appleway Avenue, Spokane Valley, WA 99016
