Flex Space with Retail and
For Sale
$650,000
222 South Washington Street, Spokane, WA 99201
Street-facing commercial space combines retail, storage, office, and breakroom areas with alley access.
Property Size4,023 SF
Price / SF$154.65
Days on Market88
Property Features for 222 South Washington Street
General Information
Standard status
Active
Size
4,023 SF
Total Parking Spaces
7
Property subtype
Retail
Net Operating Income
$32,748
Building Details
Building Size
4,023 SF
Buildings
1
Stories
2
Listing Agency:
SVN | Cornerstone
Listed By:
Matthew Byrd · License #WA #44400
(509) 499-9229
Source:
Svn
Added: Jul 19
Changed: Oct 10
Last Checked: Oct 12 at 6:01PM
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
Investment Insights
Based on property information with market context.
This approximately 4,203-square-foot flex property combines a street-oriented retail area with warehouse and storage space. The second floor adds office and breakroom facilities, creating a practical configuration for retail, showroom, distribution, or service-oriented operations. The property is currently occupied by Vino Wine Shop.
Located in downtown Spokane at 222 South Washington Street, the building provides visibility along a central commercial street and convenient alley access. Seven dedicated customer parking stalls are included, with the alley also supporting additional parking and loading or unloading activity.
Located in downtown Spokane at 222 South Washington Street, the building provides visibility along a central commercial street and convenient alley access. Seven dedicated customer parking stalls are included, with the alley also supporting additional parking and loading or unloading activity.
Key Highlights
- Approximately 4,203 square feet of flex commercial space
- Street‑facing retail area paired with warehouse and storage space
- Second‑floor office and breakroom facilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,611
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$872,220
$872.2K
Cap Rate 7%
$623,014
$623.0K
Cap Rate 9%
$484,567
$484.6K
Market Conditions
NOI Build-Up for 4,203 SF
Gross rent
$68.1K $16.20/SF
− Vacancy
−$5.8K −$1.38/SF
EGI
$62.3K $14.82/SF
− OpEx
−$18.7K −$4.45/SF
NOI
$43.6K $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%
$872,220
Cap Rate 7%
$623,014
Cap Rate 9%
$484,567
Alternative Uses
Best Use
Retail
$623.0K
$545.1K – $726.9K
NOI $43,611 @ 7.0% cap · market cap 6.71%
Second Best
Industrial
$349.3K
$305.7K – $407.6K
NOI $24,454 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.08M
$948.8K – $1.27M
NOI $75,906 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
7,337
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Similar Off Market Nearby
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- Tamarack Event House and Catering — 912 W Sprague Ave, Spokane, WA 99201
- Pasefika Sweet & Savory — 522 W Riverside Ave Suite 4336, Spokane, WA 99201
Frequently Asked Questions
What type of property is this?
Flex space - Street-facing commercial space combines retail, storage, office, and breakroom areas with alley access.
Where is this flex space located?
The property is located at 222 South Washington Street Spokane, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 4,203 square feet of flex commercial space; Street‑facing retail area paired with warehouse and storage space; Second‑floor office and breakroom facilities
