Professional Office
For Sale
Contact for pricing
25-31 W Cataldo Ave, Spokane, WA 99201
Remodeling was completed during 2024 and 2025 for a professional-services office setting.
Property Size15,500 SF
Price / SF$161.29
Days on Market13
Property Features for 25-31 W Cataldo Ave
General Information
Standard status
Active
Size
15,500 SF
Property subtype
OFFICE
Additional Details
Public Transit
Yes
Amenities
monument and building signage
Building Details
Year Renovated
2025
Tenancy
Multi
Listing Agency:
Windermere Valley/Liberty Lake
(509) 263-5645
Listed By:
Haley Busby
Source:
Moodyscre
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 9 at 11:50AM
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 Windermere Valley/Liberty Lake
Investment Insights
Based on property information with market context.
31 W Cataldo Avenue is a 15,500-square-foot professional office building on the north edge of downtown Spokane. The property includes a professional-services tenant mix representing legal, title and financial services, and real estate industries. Remodeling was completed during 2024 and 2025.
The property provides access to Division Street, the University District, downtown employment centers, public transportation, dining, lodging, and major regional routes. On-site surface parking, accessible parking spaces, prominent monument and building signage, and all-direction access support daily office operations and visitor convenience. The property is located at 25-31 W Cataldo Ave, Spokane, WA 99201.
The property provides access to Division Street, the University District, downtown employment centers, public transportation, dining, lodging, and major regional routes. On-site surface parking, accessible parking spaces, prominent monument and building signage, and all-direction access support daily office operations and visitor convenience. The property is located at 25-31 W Cataldo Ave, Spokane, WA 99201.
Key Highlights
- 15,500‑square‑foot professional office property
- Remodeling completed during 2024 and 2025
- Professional‑services tenant mix includes legal, title and financial services, and real estate industries
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$221,945
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,438,900
$4.4M
Cap Rate 7%
$3,170,643
$3.2M
Cap Rate 9%
$2,466,056
$2.5M
Market Conditions
NOI Build-Up for 15,500 SF
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.
Gross rent
$344.1K $22.20/SF
− Vacancy
−$48.2K −$3.11/SF
EGI
$295.9K $19.09/SF
− OpEx
−$74.0K −$4.77/SF
NOI
$221.9K $14.32/SF
Area
Spokane, WA
Vacancy
14.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,438,900
Cap Rate 7%
$3,170,643
Cap Rate 9%
$2,466,056
Alternative Uses
Best Use
Office B
$3.17M
$2.77M – $3.70M
NOI $221,945 @ 7.0% cap · market cap 8.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $279,930 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,906
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Remodeling was completed during 2024 and 2025 for a professional-services office setting.
Where is this office building located?
The property is located at 25-31 W Cataldo Ave Spokane, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 15,500‑square‑foot professional office property; Remodeling completed during 2024 and 2025; Professional‑services tenant mix includes legal, title and financial services, and real estate industries
