Retail Office Building with
For Sale
$1,450,000
2716 N Argonne Rd, Spokane, WA 99212
Mixed retail and office building includes drive-thru access, on-site parking, and former bank space.
Property Size7,286 SF
Days on Market51
Property Features for 2716 N Argonne Rd
General Information
Standard status
Active
Size
7,286 SF
Property subtype
Retail - Street Retail
Additional Details
Traffic Count
31,500 vehicles/day
Building Details
Building Size
7,286 SF
Listing Agency:
SVN | Retter & Company
Listed By:
Taylor Gibbons
(509) 939-1741
Source:
Commercialcafe
Added: Jul 25
Changed: Sep 8
Last Checked: Sep 12 at 4:54AM
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 | Retter & Company
Investment Insights
Based on property information with market context.
This retail/office building offers a drive-thru layout and on-site parking, with space previously utilized by a Bank of America. The property is positioned to support either redevelopment or an owner-occupied use through build-to-suit or ground lease options.
The asset is located on N Argonne Rd, off Trent Ave, with access available from both Argonne Rd and Trent Ave. Public remarks note approximately 31,500 cars per day passing the area, providing consistent traffic exposure for storefront and office functions.
The offering includes the existing improvements for an interested buyer or tenant, with the drive-thru feature and prior banking configuration as key considerations for prospective use.
The asset is located on N Argonne Rd, off Trent Ave, with access available from both Argonne Rd and Trent Ave. Public remarks note approximately 31,500 cars per day passing the area, providing consistent traffic exposure for storefront and office functions.
The offering includes the existing improvements for an interested buyer or tenant, with the drive-thru feature and prior banking configuration as key considerations for prospective use.
Key Highlights
- Exceptional location on Argonne Rd off Trent Ave with 31,500 cars per day
- Mixed retail and office building with former Bank of America space
- Drive‑thru access
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
$88,427
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
6.10%
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%
$1,768,540
$1.8M
Cap Rate 7%
$1,263,243
$1.3M
Cap Rate 9%
$982,522
$982.5K
Market Conditions
NOI Build-Up for 7,286 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
$126.8K $17.40/SF
− Vacancy
−$8.9K −$1.22/SF
EGI
$117.9K $16.18/SF
− OpEx
−$29.5K −$4.05/SF
NOI
$88.4K $12.14/SF
Area
Spokane, WA
Vacancy
7.00%
Lease Rate
$17.40 /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%
$1,768,540
Cap Rate 7%
$1,263,243
Cap Rate 9%
$982,522
Alternative Uses
Best Use
Specialty Retail
$1.26M
$1.11M – $1.47M
NOI $88,427 @ 7.0% cap · market cap 6.10%
Second Best
Retail
$1.08M
$945.0K – $1.26M
NOI $75,600 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$1.88M
$1.64M – $2.19M
NOI $131,585 @ 7.0% cap · market cap 9.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
31,500 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 99212, WA
21,672
Population
9,496
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
1,762
Density / Sq Mi
$66,250
Median Household Income
$39,829
Median Earnings
$1,184
Median Rent
$314,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Bank - Mixed retail and office building includes drive-thru access, on-site parking, and former bank space.
Where is this bank located?
The property is located at 2716 N Argonne Rd Spokane, WA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Exceptional location on Argonne Rd off Trent Ave with 31,500 cars per day; Mixed retail and office building with former Bank of America space; Drive‑thru access
