Listing Agency: Upward Advisors Show Phone

Listed By: John Leland · License #50182 Show Phone

Source: Moodyscre

Added: May 7 Changed: Oct 7 Last Checked: Oct 7 at 3:20PM

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Investment Insights

Based on property information with market context.

This offering features a three-parcel assemblage along the Division/Ruby couplet. It includes a retail building on Division Street, approximately 3,435 square feet and 2,450 square feet across two tax parcels, that can be configured into up to four storefronts. A supporting parcel on Ruby includes a site-built storage garage, yard area, and dedicated monument signage. The Division building features a new 50-mil PVC membrane roof installed in 2024. Large storefront windows, prominent building and monument signage, and dual frontage along both Division and Ruby provide exposure and circulation. Located minutes from downtown and the I-90 and North Spokane corridors, the property benefits from traffic counts and proximity to Northtown/North Division retailers. Flexible commercial zoning and multiple access points support uses including retail, service commercial, food and beverage, and owner-user or investor scenarios. It offers income potential from multiple storefronts, on-site storage, and high-impact monument signage.

Key Highlights

• High‑visibility location** on Division/Ruby corridor with strong daily traffic.
• Flexible commercial zoning supports a wide range of uses (retail, service, food/beverage).
• Income potential from multiple storefronts, on‑site storage, and monument signage.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,642

Cap Rate

4.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$712,840 $712.8K

Cap Rate 7%

$509,171 $509.2K

Cap Rate 9%

$396,022 $396.0K

Market Conditions

NOI Build-Up for 3,435 SF

Gross rent

$55.6K $16.20/SF

− Vacancy

−$4.7K −$1.38/SF

EGI

$50.9K $14.82/SF

− OpEx

−$15.3K −$4.45/SF

NOI

$35.6K $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%

$712,840

Cap Rate 7%

$509,171

Cap Rate 9%

$396,022

Alternative Uses

Best Use

Retail

$509.2K

$445.5K – $594.0K (±1% cap)

NOI $35,642 @ 7.0% cap · market cap 4.48%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$886.2K

$775.5K – $1.03M (±1% cap)

NOI $62,036 @ 7.0% cap · market cap 7.80%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Dental Office Parking Lot & Garage HVAC Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

663

Businesses Nearby

Under-served

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

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Rare retail assemblage on high-visibility Division corridor.

Where is this storefront property located?

The property is located at 2712-2718 N Division St Spokane, WA.

What is the asking price?

The asking price for this property is $795,000.

What are key features of this property?

This property features: High‑visibility location** on Division/Ruby corridor with strong daily traffic.; Flexible commercial zoning supports a wide range of uses (retail, service, food/beverage).; Income potential from multiple storefronts, on‑site storage, and monument signage.