Warehouse with Fenced
New
For Sale
Contact for pricing
218 N Lee, Spokane, WA 99202
Office space and three-phase power complement the property's loading configuration.
Property Size6,400 SF
Price / SF$139.84
Days on Market3
Property Features for 218 N Lee
General Information
Standard status
Active
Size
6,400 SF
Property subtype
INDUSTRIAL
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Three-Phase Power
Yes
Building Details
Stories
2
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Mark Lucas
(509) 755-7524
Source:
Moodyscre
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 10 at 2:39AM
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.
The 6,400-square-foot warehouse includes office space and a second floor with potential for live/work use. Multiple grade-level doors measure 14 feet wide by 16 feet high and allow drive-through access into the fenced yard. The property has three-phase power.
Key Highlights
- 6,400‑square‑foot warehouse
- Fenced yard with drive‑through access
- Multiple 14'W x 16'H grade‑level loading doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,807
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$836,140
$836.1K
Cap Rate 7%
$597,243
$597.2K
Cap Rate 9%
$464,522
$464.5K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$54.5K $8.52/SF
− Vacancy
−$5.3K −$0.83/SF
EGI
$49.2K $7.69/SF
− OpEx
−$7.4K −$1.15/SF
NOI
$41.8K $6.53/SF
Area
Spokane, WA
Vacancy
9.80%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$836,140
Cap Rate 7%
$597,243
Cap Rate 9%
$464,522
Alternative Uses
Best Use
Warehouse
$597.2K
$522.6K – $696.8K
NOI $41,807 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.93M
NOI $115,584 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
713
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
- Playfair Commerce Park — N Altamont St, Spokane, WA 99202
- Blueline Mini Storage — 1017 N Crestline St, Spokane, WA 99202
- Boone Mini Storage — 3004 E Boone Ave, Spokane, WA 99202
- Green Street Maxi Storage — 3129 E Sharp Ave, Spokane, WA 99202
Frequently Asked Questions
What type of property is this?
Warehouse - Office space and three-phase power complement the property's loading configuration.
Where is this warehouse located?
The property is located at 218 N Lee Spokane, WA.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 6,400‑square‑foot warehouse; Fenced yard with drive‑through access; Multiple 14'W x 16'H grade‑level loading doors
