Spokane Retail Opportunity For
21 E Lincoln Rd, Spokane, WA 99208
18,211 SF retail space on 1.4 acres.
Type:Retail
Property size:
18,211 SFPrice / SF:
$126/SF- Added:
- Nov 21, 2025
- Days on Market:
- 184
- Last Refresh:
- Apr 6 at 12:15 am
Property Features for 21 E Lincoln Rd
General Information
- Standard status
- Active
- Size
- 18,211 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1973
Listing agent Andrew Keef License #WA #23007080 (509) 321-2000
Listing office SVN Cornerstone LLC (509) 321-2000
Listing date Nov 21, 2025
Source Svn
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 SVN Cornerstone LLC
HighLights
- High‑Traffic Location: Situated in a thriving commercial district of Spokane with ingress/egress access from both N Division St and E Lincoln Rd, ensuring high visibility.
- Spacious and Versatile: 18,211 SF of space suitable for various retail or specialty center concepts.
- Large Lot with Expansion Potential: 1.4 acres provides ample parking and potential for future expansion.
- Flexible Zoning: General Commercial (GC) zoning allows for multiple business types.
- Established Market Presence: A long‑standing property in the area, surrounded by a mix of national and local retailers.
- Key Access Points: Located near major roads and key commercial hubs, enhancing accessibility.
Overview
This retail property, built in 1973, is situated in a thriving commercial district of Spokane. The property features 18,211 square feet of versatile space suitable for various retail or specialty center concepts. The 1.4-acre lot provides ample parking and potential for future expansion or redevelopment. The property is zoned General Commercial (GC), offering flexibility for multiple business types, from retail storefronts to specialty shops. The location is near major roads and key commercial hubs, attracting consistent customer flow. The property has established market presence in an area surrounded by a mix of national and local retailers. The property features ingress and egress access from both N Division St and E Lincoln Rd, enhancing accessibility and traffic flow.
Financial Insights
Value Estimation Calculated for Retail
Conservative
$2.10M
NOI $188,959 @ 9.00% cap · cautious / downside scenario
Moderate
$2.70M
NOI $188,959 @ 7.00% cap · market / base-case scenario
Aggressive
$3.78M
NOI $188,959 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $295.0k | $16.20 |
| − Vacancy | −$25.1k | −$1.38 |
| EGI | $269.9k | $14.82 |
| − OpEx | −$81.0k | −$4.45 |
| NOI | $189.0k | $10.38 |
18,211 SF · lease $16.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Retail
$2.70M
$2.36M – $3.15M
NOI $188,959 @ 7.0% cap · market cap 8.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $328,891 @ 7.0% cap · market cap 14.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Osaka Buffet
Restaurant
Osaka Room Sushi ...
Restaurant
Hakka Hibachi
Bar & Pub
Similar Places Nearby
- Mel's Nursery — 8800 n division st, spokane, wa 99218
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.41
- Latitude
- 47.7298
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - 18,211 SF retail space on 1.4 acres.
Where is this storefront property located?
The property is located at 21 E Lincoln Rd Spokane, WA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: High‑Traffic Location: Situated in a thriving commercial district of Spokane with ingress/egress access from both N Division St and E Lincoln Rd, ensuring high visibility.; Spacious and Versatile: 18,211 SF of space suitable for various retail or specialty center concepts.; Large Lot with Expansion Potential: 1.4 acres provides ample parking and potential for future expansion.
