Fenced Flex Building with Roll-Up
For Sale
Contact for pricing
3002 E Bridgeport Ave, Spokane, WA 99207
Versatile flex property with separate office areas, a kitchen, bathrooms, and upper-level living or workspace.
Property Size4,440 SF
Lot Size0.20 Acres
Price / SF$112.61
Days on Market8
Property Features for 3002 E Bridgeport Ave
General Information
Standard status
Active
Size
4,440 SF
Lot size
0.20 Acres
Property subtype
INDUSTRIAL
Zoning
GC-70
Additional Details
Fenced Yard
Yes
Building Details
Buildings
1
Stories
2
Building Size
4,440 SF
Construction
poured concrete
Listing Agency:
Cantu Commercial Properties
(509) 370-9166
Listed By:
Sam Morse · License #B9988
(509) 370-9166
Source:
Moodyscre
Added: Jul 30
Changed: Aug 2
Last Checked: Aug 6 at 11:44AM
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 Cantu Commercial Properties
Investment Insights
Based on property information with market context.
This 4,440 SF flex building sits on 8,750 SF of land and combines functional industrial features with office and living-oriented space. The approximately 3,200 SF main floor measures 40’ x 80’ and includes a private office, two bathrooms, a floor drain, exhaust fan, full poured walls, and front and rear roll-up doors measuring 14’ x 12’ and 8’ x 12’. The property is fully fenced and has an outside sprinkler system.
The 1,240 SF upper level provides two private offices, a kitchen, bathroom with shower, washer and dryer, an open living room or common area, and additional living quarters/office functionality. Zoned GC-70, the property is positioned one block west of Market and two blocks north of Euclid in Spokane, Washington.
The 1,240 SF upper level provides two private offices, a kitchen, bathroom with shower, washer and dryer, an open living room or common area, and additional living quarters/office functionality. Zoned GC-70, the property is positioned one block west of Market and two blocks north of Euclid in Spokane, Washington.
Key Highlights
- 4,440 SF building on 8,750 SF of land
- 3,200 SF main floor with 1,240 SF upstairs
- 14’ x 12’ front and 8’ x 12’ rear roll‑up doors
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
$29,003
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
5.80%
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%
$580,060
$580.1K
Cap Rate 7%
$414,329
$414.3K
Cap Rate 9%
$322,256
$322.3K
Market Conditions
NOI Build-Up for 4,440 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
$37.8K $8.52/SF
− Vacancy
−$3.7K −$0.83/SF
EGI
$34.1K $7.69/SF
− OpEx
−$5.1K −$1.15/SF
NOI
$29.0K $6.53/SF
Area
Spokane, WA
Vacancy
9.80%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
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%
$580,060
Cap Rate 7%
$414,329
Cap Rate 9%
$322,256
Alternative Uses
Best Use
Office B
$908.2K
$794.7K – $1.06M
NOI $63,576 @ 7.0% cap · market cap 12.72%
Second Best
Mixed Use
$757.6K
$662.9K – $883.8K
NOI $53,030 @ 7.0% cap · market cap 10.61%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,186 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
401
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex property with separate office areas, a kitchen, bathrooms, and upper-level living or workspace.
Where is this flex space located?
The property is located at 3002 E Bridgeport Ave Spokane, WA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4,440 SF building on 8,750 SF of land; 3,200 SF main floor with 1,240 SF upstairs; 14’ x 12’ front and 8’ x 12’ rear roll‑up doors
