Renovated Automotive
For Sale
$1,600,000
2607 Division, Spokane, WA 99207
Paved vehicle display site with renovated offices, an attached garage, and prominent electronic signage.
Property Size4,500 SF
Lot Size0.67 Acres
Price / SF$355.56
Days on Market75
Property Features for 2607 Division
General Information
Standard status
Active
Size
4,500 SF
Lot size
0.67 Acres
Property subtype
Commercial
Site & Location
Traffic Count
24,825 vehicles/day
Road Access
Yes
Amenities
security system
exterior lighting
intercom system
prominent electronic sign
irrigation system
Building Details
Year Built
1998
Year Renovated
2021
Buildings
1
Abandoned
No
Listing Agency:
LT Real Estate
Listed By:
Ryan Towner · License #24027253
(509) 315-8720
Source:
Clearwaterproperties
Added: Aug 1
Changed: Oct 13
Last Checked: Oct 12 at 8:29PM
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 LT Real Estate
Investment Insights
Based on property information with market context.
This automotive property combines a 4,500-square-foot retail and office building with a 29,000-square-foot paved lot. Completed renovations in 2021 added glass-enclosed offices, two restrooms, a kitchenette-equipped break room, and an attached garage with a 10-foot overhead door. The improvements also include a security system, exterior lighting, intercom equipment, and an electronic sign. Select personal property is included.
The site offers 200 feet of frontage along Division Street and records an average daily traffic count of 24,825 vehicles. Landscaping and irrigation complement the paved vehicle display and parking areas. Its existing automotive-oriented configuration can support dealership, automotive service, equipment sales, or other retail operations, subject to applicable approvals.
The site offers 200 feet of frontage along Division Street and records an average daily traffic count of 24,825 vehicles. Landscaping and irrigation complement the paved vehicle display and parking areas. Its existing automotive-oriented configuration can support dealership, automotive service, equipment sales, or other retail operations, subject to applicable approvals.
Key Highlights
- 4,500 SF retail and office building renovated in 2021
- 29,000 SF paved and landscaped lot with irrigation system
- 200 feet of Division Street frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,692
Cap Rate
2.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$933,840
$933.8K
Cap Rate 7%
$667,029
$667.0K
Cap Rate 9%
$518,800
$518.8K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$72.9K $16.20/SF
− Vacancy
−$6.2K −$1.38/SF
EGI
$66.7K $14.82/SF
− OpEx
−$20.0K −$4.45/SF
NOI
$46.7K $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%
$933,840
Cap Rate 7%
$667,029
Cap Rate 9%
$518,800
Alternative Uses
Best Use
Retail
$667.0K
$583.7K – $778.2K
NOI $46,692 @ 7.0% cap · market cap 2.92%
Second Best
Industrial
$374.0K
$327.3K – $436.4K
NOI $26,182 @ 7.0% cap · market cap 1.64%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,270 @ 7.0% cap · market cap 5.08%
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
24,825 VPD
Traffic count
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Balanced
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Automotive property - Paved vehicle display site with renovated offices, an attached garage, and prominent electronic signage.
Where is this automotive property located?
The property is located at 2607 Division 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: 4,500 SF retail and office building renovated in 2021; 29,000 SF paved and landscaped lot with irrigation system; 200 feet of Division Street frontage
