Two-Story Flex Space with Roll-Up
For Sale
$420,000
Pending
2002 Garfield, Airway Heights, WA 99001
Fenced industrial property with gated entry, multiple rooms, two bathrooms, and supplemental climate-control systems.
Property Size3,960 SF
Days on Market154
Property Features for 2002 Garfield
General Information
Standard status
Pending
Size
3,960 SF
Property subtype
Commercial
Zoning
I1
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
3,960 SF
Power
800 amps
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$4,476
Building Details
Year Built
2007
Buildings
1
Stories
2
Building Size
3,960 SF
Construction
metal building
Listing Agency:
REAL Broker LLC
Listed By:
Amber Leigh
(855) 450-0442
Source:
Clearwaterproperties
Added: May 14
Changed: Oct 13
Last Checked: Oct 12 at 7:34PM
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 REAL Broker LLC
Investment Insights
Based on property information with market context.
This two-story metal flex-space building contains 3960 sq ft of usable area on a nearly half-acre parcel. The interior includes 18 rooms measuring approximately 16x16, a larger room of approximately 20x20, and a roll-up door. The property is fully fenced with gated access and includes two bathrooms, city water, septic, gas heat, and an additional mini-split system.
Located at 2002 S Garfield Rd in Airway Heights, the property is near a major highway, the airport, and an Amazon distribution center. Its I1 light-industrial designation and existing configuration support warehouse storage, contractor operations, workshops, distribution, manufacturing, or flex office use. Electrical service is 2 phase 800 amp.
Located at 2002 S Garfield Rd in Airway Heights, the property is near a major highway, the airport, and an Amazon distribution center. Its I1 light-industrial designation and existing configuration support warehouse storage, contractor operations, workshops, distribution, manufacturing, or flex office use. Electrical service is 2 phase 800 amp.
Key Highlights
- 3960 sq ft of usable space on a nearly half‑acre lot
- 18 interior rooms, approximately 16x16, plus one approximately 20x20 room
- Two‑story metal building with a large roll‑up door
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,719
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,380
$554.4K
Cap Rate 7%
$395,986
$396.0K
Cap Rate 9%
$307,989
$308.0K
Market Conditions
NOI Build-Up for 3,960 SF
Gross rent
$35.6K $9.00/SF
− Vacancy
−$3.0K −$0.77/SF
EGI
$32.6K $8.24/SF
− OpEx
−$4.9K −$1.24/SF
NOI
$27.7K $7.00/SF
Area
Spokane County, WA
Vacancy
8.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$554,380
Cap Rate 7%
$395,986
Cap Rate 9%
$307,989
Alternative Uses
Best Use
Warehouse
$396.0K
$346.5K – $462.0K
NOI $27,719 @ 7.0% cap · market cap 6.60%
Second Best
Flex RnD
$329.6K
$288.4K – $384.6K
NOI $23,073 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$915.0K
$800.7K – $1.07M
NOI $64,053 @ 7.0% cap · market cap 15.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99001, WA
8,859
Population
2,739
Households
3.2
Avg Household Size
34
Median Age
18%
College-Educated
91%
High-School Grad
8.0 sq mi
ZIP Area
1,107
Density / Sq Mi
$60,182
Median Household Income
$34,200
Median Earnings
$1,271
Median Rent
$281,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Fenced industrial property with gated entry, multiple rooms, two bathrooms, and supplemental climate-control systems.
Where is this flex space located?
The property is located at 2002 Garfield Airway Heights, WA.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 3960 sq ft of usable space on a nearly half‑acre lot; 18 interior rooms, approximately 16x16, plus one approximately 20x20 room; Two‑story metal building with a large roll‑up door
