74-Unit Mixed-Use
206 Post, Spokane, WA 99201
For Sale
$6,400,000
Three street-level commercial suites complement a range of apartment layouts in a seven-story historic property.
Property Size56,800 SF
Price / SF$112.68
Days on Market38
Property Features for 206 Post
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Additional Details
Sprinkler System
Tenant in Place
Amenities
central air conditioning
shared laundry facilities
underground parking
Building Details
Year Built
Buildings
Stories
Listing Agency:
Kidder Mathews
Listed By:
Max Frame · License #130533
(509) 494-3116
Source:
Century21northhomes
Added: Oct 3
Changed: Nov 8
Last Checked: Nov 8 at 6:49AM
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 Kidder Mathews
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Investment Insights
Based on property information with market context.
This seven-story mixed-use property contains 74 apartments and three ground-floor commercial spaces. The unit mix comprises 60 studios and 14 one-bedroom apartments. Built in 1890, the 56,800-square-foot building has renovated apartment interiors, updated electrical and plumbing systems, fire sprinklers, and mechanical improvements. Amenities include central air conditioning, shared laundry, two elevators, and underground parking.
The property is in Downtown Spokane, near the Hospital District, University District, Riverfront Park, shopping, dining, and major employment centers. Occupancy has historically exceeded 95%; commercial tenants have long-term leases with annual rent increases.
The property is in Downtown Spokane, near the Hospital District, University District, Riverfront Park, shopping, dining, and major employment centers. Occupancy has historically exceeded 95%; commercial tenants have long-term leases with annual rent increases.
Key Highlights
- 74 apartments: 60 studios and 14 one‑bedroom units
- Three ground‑floor commercial spaces
- 56,800‑square‑foot, seven‑story property built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$564,929
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,298,580
$11.3M
Cap Rate 7%
$8,070,414
$8.1M
Cap Rate 9%
$6,276,989
$6.3M
Market Conditions
NOI Build-Up for 56,800 SF
Gross rent
$1.10M $19.32/SF
− Vacancy
−$70.2K −$1.24/SF
EGI
$1.03M $18.08/SF
− OpEx
−$462.2K −$8.14/SF
NOI
$564.9K $9.95/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,298,580
Cap Rate 7%
$8,070,414
Cap Rate 9%
$6,276,989
Alternative Uses
Best Use
Mixed Use
$9.69M
$8.48M – $11.31M
NOI $678,405 @ 7.0% cap · market cap 10.60%
Second Best
Apartment 5plus
$8.07M
$7.06M – $9.42M
NOI $564,929 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$14.65M
$12.82M – $17.10M
NOI $1,025,808 @ 7.0% cap · market cap 16.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
74
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
7,579
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three street-level commercial suites complement a range of apartment layouts in a seven-story historic property.
Where is this mixed-use property located?
The property is located at 206 Post Spokane, WA.
What is the asking price?
The asking price for this property is $6,400,000.
What are key features of this property?
This property features: 74 apartments: 60 studios and 14 one‑bedroom units; Three ground‑floor commercial spaces; 56,800‑square‑foot, seven‑story property built in 1890
