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    Downtown Multi-Suite Retail Space Title is generated by Realmo AI

    225 W Riverside Ave, Spokane, WA 99201

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    For Lease
    $18 SF/Yr $9,600/Mo (calc)

    Multi-suite retail offering large storefront windows, open layout, and flexible dining or retail concepts on a high-traffic downtown corridor.

    Type:Retail
    Property size:
    6,400 SF
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 2:20 am

    Property Features for 225 W Riverside Ave

    General Information

    Standard status
    Active
    Size
    6,400 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1896

    Spaces For Lease

    at 225 W Riverside Ave Contact us

    We can help!

    Listing Contact
    John Powers
    John Powers

    Listing agent John Powers License #100306

    Listing office Black Commercial, Inc.

    Listing date Jun 2, 2026

    Source Naiblack

    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 Black Commercial, Inc.

    HighLights

    • 6,400 SF multi‑suite in a professionally managed building built in 1896
    • Retail zoning; available for flexible concepts including coffee shop, fast‑casual dining, boutique retail, or speakeasy bar
    • Includes large storefront windows and an open floor plan
    • Three dining areas plus a speakeasy basement bar
    • Located on Riverside Avenue in downtown Spokane with high foot and vehicle traffic and nearby public parking

    Overview

    This 6,400-square-foot multi-suite space is designed for flexibility and visibility, featuring large storefront windows and an open floor plan. The layout includes three dining areas and a speakeasy-style basement bar, supporting a range of concepts from coffee service and fast-casual dining to boutique retail and restaurant or bar use.

    Located on Riverside Avenue in downtown Spokane, the property benefits from strong vehicle and foot traffic along one of the area’s most traveled corridors. The building offers prominent signage opportunities and nearby public parking, with convenient access to major downtown destinations including River Park Square, The Davenport Grand, and the Spokane Convention Center.

    The configuration is well-suited for operators seeking a versatile footprint with multiple zones for service and guest flow. With its retail-friendly frontage, flexible interior planning, and on-site basement bar feature, the space should attract tenants looking to establish a visible presence and support both daytime and evening activity.
    Location Intelligence

    Current Use by Public Records

    Redband Room Hotel & Motel The Bickett Apartment Building Ruins Restaurant Restaurant Hunt Restaurant

    Suggested Use

    Dental Office Restaurant Hair Salon Building Supply Nail Salon Daycare Center Kitchen & Bath Showroom HVAC Service Food Market Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4146308
    Latitude
    47.6577441

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    FAQs

    What type of property is this?
    Retail space - Multi-suite retail offering large storefront windows, open layout, and flexible dining or retail concepts on a high-traffic downtown corridor.
    Where is this retail space located?
    The property is located at 225 W Riverside Ave Spokane, WA.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 6,400 SF multi‑suite in a professionally managed building built in 1896; Retail zoning; available for flexible concepts including coffee shop, fast‑casual dining, boutique retail, or speakeasy bar; Includes large storefront windows and an open floor plan
    (509) 622-3563
    We can help!
    Listing Contact
    John Powers
    John Powers
    Real Estate License ID: 100306
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    225 W Riverside Ave, Spokane, WA 99201
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