Steel-Frame Flex Facility with
For Sale
Contact for pricing
213 E Ermina Ave, Spokane, WA 99207
The facility combines showroom, office, warehouse, and mezzanine areas within a flexible commercial layout.
Property Size11,530 SF
Lot Size0.54 Acres
Price / SF$138.77
Days on Market192
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Property Features for 213 E Ermina Ave
General Information
Standard status
Active
Size
11,530 SF
Lot size
0.54 Acres
Property subtype
Industrial
Zoning
General Commercial
Warehouse & Industrial
Clear Height
21.7 ft
Warehouse Space
8,780 SF
Mezzanine
5,500 SF
Power
600 amps
Three-Phase Power
Yes
Sprinkler System
Yes
Additional Details
Utilities to Site
Yes
Building Details
Year Built
2004
Buildings
1
Building Size
11,530 SF
Construction
steel frame
Listing Agency:
Kiemle HaGood
Listed By:
Tracy Poff · License #WA
(509) 755-7588
Source:
Crexi
Added: Apr 7
Changed: Oct 8
Last Checked: Oct 14 at 10:20PM
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 Kiemle HaGood
Investment Insights
Based on property information with market context.
Located at 213 E. Ermina Ave. in Spokane, this 2004 steel-frame flex property provides 11,530 SF of building area on approximately 23,400 SF of land. The interior includes about 2,750 SF of showroom and office space, 8,780 SF of warehouse area, and a 5,500 SF concrete mezzanine that adds storage and operational capacity. Warehouse clear heights range from 17'6" to 21'8".
The property is zoned GC-70 General Commercial and offers both grade-level and dock-high loading. Building systems include 600-amp, 3-phase power, a wet sprinkler system, city utilities, gas warehouse heat, and a mini-split serving the showroom. Its location near Division and Ruby places the facility minutes northeast of downtown Spokane.
The property is zoned GC-70 General Commercial and offers both grade-level and dock-high loading. Building systems include 600-amp, 3-phase power, a wet sprinkler system, city utilities, gas warehouse heat, and a mini-split serving the showroom. Its location near Division and Ruby places the facility minutes northeast of downtown Spokane.
Key Highlights
- 11,530 SF building footprint on approximately 23,400 SF of land
- 2,750 SF showroom/office area plus 8,780 SF warehouse space
- 5,500 SF concrete mezzanine for storage or operations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,636
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,392,720
$2.4M
Cap Rate 7%
$1,709,086
$1.7M
Cap Rate 9%
$1,329,289
$1.3M
Market Conditions
NOI Build-Up for 11,530 SF
Gross rent
$186.8K $16.20/SF
− Vacancy
−$15.9K −$1.38/SF
EGI
$170.9K $14.82/SF
− OpEx
−$51.3K −$4.45/SF
NOI
$119.6K $10.38/SF
Area
Spokane, WA
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,392,720
Cap Rate 7%
$1,709,086
Cap Rate 9%
$1,329,289
Alternative Uses
Best Use
Office B
$2.36M
$2.06M – $2.75M
NOI $165,098 @ 7.0% cap · market cap 10.32%
Second Best
Retail
$1.71M
$1.50M – $1.99M
NOI $119,636 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,232 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
21 ft
Clear height
Yes
Sprinkler system
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,268
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99207, WA
32,059
Population
13,673
Households
2.3
Avg Household Size
34
Median Age
17%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
6,165
Density / Sq Mi
$55,548
Median Household Income
$31,712
Median Earnings
$1,127
Median Rent
$246,800
Median Home Value
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Market
Vacancy Rate% for Office in West region
Similar Off Market Nearby
- Sodexo — Parking lot, 729 E Desmet Ave, Spokane, WA 99258
Frequently Asked Questions
What type of property is this?
Flex space - The facility combines showroom, office, warehouse, and mezzanine areas within a flexible commercial layout.
Where is this flex space located?
The property is located at 213 E Ermina Ave Spokane, WA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 11,530 SF building footprint on approximately 23,400 SF of land; 2,750 SF showroom/office area plus 8,780 SF warehouse space; 5,500 SF concrete mezzanine for storage or operations
