Automotive Service
For Sale
Contact for pricing
3014 East 55th Avenue, Spokane, WA 99223
The property carries Mixed Use zoning and dates to 1980.
Property Size23,088 SF
Price / SF$171.95
Days on Market15
Property Features for 3014 East 55th Avenue
General Information
Standard status
Active
Size
23,088 SF
Property subtype
Retail
Zoning
Mixed Use
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$258,185
Building Details
Year Built
1980
Year Renovated
2025
Units
2
Tenancy
Multi
Listing Agency:
Northmarq
Listed By:
Kevin Adatto · License #WA 85667
(503) 998-6572
Source:
Crexi
Added: Aug 20
Changed: Sep 2
Last Checked: Sep 2 at 1:57PM
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 Northmarq
Investment Insights
Based on property information with market context.
This automotive service property contains 23,088 square feet and was constructed in 1980. The asset is designated for Mixed Use zoning and is located at 3014 East 55th Avenue in Spokane, Washington.
The property information identifies the asset within the auto shop category, providing a clearly automotive-oriented commercial profile. Its Spokane address and established construction date add basic context for evaluating the building.
The property information identifies the asset within the auto shop category, providing a clearly automotive-oriented commercial profile. Its Spokane address and established construction date add basic context for evaluating the building.
Key Highlights
- 23,088‑square‑foot automotive property
- Mixed Use zoning
- Constructed in 1980
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
$239,563
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
6.03%
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%
$4,791,260
$4.8M
Cap Rate 7%
$3,422,329
$3.4M
Cap Rate 9%
$2,661,811
$2.7M
Market Conditions
NOI Build-Up for 23,088 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
$374.0K $16.20/SF
− Vacancy
−$31.8K −$1.38/SF
EGI
$342.2K $14.82/SF
− OpEx
−$102.7K −$4.45/SF
NOI
$239.6K $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 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%
$4,791,260
Cap Rate 7%
$3,422,329
Cap Rate 9%
$2,661,811
Alternative Uses
Best Use
Retail
$3.42M
$2.99M – $3.99M
NOI $239,563 @ 7.0% cap · market cap 6.03%
Second Best
Industrial
$1.92M
$1.68M – $2.24M
NOI $134,330 @ 7.0% cap · market cap 3.38%
Theoretical Best
Office A
$5.96M
$5.21M – $6.95M
NOI $416,969 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
530
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 99223, WA
34,201
Population
15,252
Households
2.2
Avg Household Size
41
Median Age
51%
College-Educated
96%
High-School Grad
32.1 sq mi
ZIP Area
1,065
Density / Sq Mi
$91,377
Median Household Income
$53,132
Median Earnings
$1,221
Median Rent
$457,200
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.
Similar Off Market Nearby
- Gerber Collision & Glass — 3014 E 55th Ave, Spokane, WA 99223
- Lloyd's Automotive — 3014 E 55th Ave B, Spokane, WA 99223
- DiagnostFix Automotive Repair — 5111 S Regal St, Spokane, WA 99223
- Crash Champions Collision Repair Spokane Palouse — 3001 E Palouse Hwy, Spokane, WA 99223
- CarDiction — 3610 E Sumac Dr, Spokane, WA 99223
Frequently Asked Questions
What type of property is this?
Auto shop - The property carries Mixed Use zoning and dates to 1980.
Where is this auto shop located?
The property is located at 3014 East 55th Avenue Spokane, WA.
What is the asking price?
The asking price for this property is $3,970,000.
What are key features of this property?
This property features: 23,088‑square‑foot automotive property; Mixed Use zoning; Constructed in 1980
