Industrial Warehouse Flex
For Sale
$950,000
308-318 S Grant Street, Spokane, WA 99202
For sale industrial flex/warehouse building offering sizable space for a range of storage and light industrial users.
Property Size11,120 SF
Price / SF$81.56
Days on Market74
Property Features for 308-318 S Grant Street
General Information
Standard status
Active
Size
11,120 SF
Property subtype
Industrial/Flex Building
Building Details
Building Size
11,120 SF
Listing Agency:
Black Commercial, Inc.
(509) 842-4142
Listed By:
James Black III, CCIM
(509) 842-4142
Source:
Naiblack
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 12 at 3:54AM
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 Black Commercial, Inc.
Investment Insights
Based on property information with market context.
This for-sale industrial flex/warehouse building totals approximately 11,648 SF on a single property, offering a practical footprint for users who need a combination of warehousing and flexible operational space. The space is presented as one consolidated building, suited to tenants and buyers looking for room to store inventory, stage goods, or support light industrial activity within an industrial configuration.
The property is located at 308-318 S Grant Street in Spokane, WA 99202. As an in-city industrial option, it can appeal to operators seeking a building in an established area rather than a remote business park setting.
Because the asset is marketed as flex/warehouse space, it may fit a variety of occupancies, including distribution-focused businesses, contractors, and companies that require both storage capacity and adaptable interior use. Buyers evaluating the opportunity for owner-occupancy or an investment strategy may find the size and consolidated building layout useful for maintaining operational flexibility. Please contact the listing broker for additional details on the building and current configuration.
The property is located at 308-318 S Grant Street in Spokane, WA 99202. As an in-city industrial option, it can appeal to operators seeking a building in an established area rather than a remote business park setting.
Because the asset is marketed as flex/warehouse space, it may fit a variety of occupancies, including distribution-focused businesses, contractors, and companies that require both storage capacity and adaptable interior use. Buyers evaluating the opportunity for owner-occupancy or an investment strategy may find the size and consolidated building layout useful for maintaining operational flexibility. Please contact the listing broker for additional details on the building and current configuration.
Key Highlights
- Industrial flex/warehouse building for sale with 11,648 SF +/-
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
$76,088
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
8.01%
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%
$1,521,760
$1.5M
Cap Rate 7%
$1,086,971
$1.1M
Cap Rate 9%
$845,422
$845.4K
Market Conditions
NOI Build-Up for 11,648 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
$99.2K $8.52/SF
− Vacancy
−$9.7K −$0.83/SF
EGI
$89.5K $7.69/SF
− OpEx
−$13.4K −$1.15/SF
NOI
$76.1K $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%
$1,521,760
Cap Rate 7%
$1,086,971
Cap Rate 9%
$845,422
Alternative Uses
Best Use
Warehouse
$1.09M
$951.1K – $1.27M
NOI $76,088 @ 7.0% cap · market cap 8.01%
Second Best
Industrial
$968.1K
$847.1K – $1.13M
NOI $67,770 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,363 @ 7.0% cap · market cap 22.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,764
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - For sale industrial flex/warehouse building offering sizable space for a range of storage and light industrial users.
Where is this flex space located?
The property is located at 308-318 S Grant Street Spokane, WA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Industrial flex/warehouse building for sale with 11,648 SF +/-
