Flex Warehouse with Secured
For Sale
Contact for pricing
322 N Freya, Spokane, WA 99202
Flex warehouse property with secured lot, showroom space, and multiple roll-up doors across two buildings.
Property Size5,040 SF
Lot Size0.57 Acres
Price / SF$99.01
Days on Market630
Property Features for 322 N Freya
General Information
Standard status
Active
Size
5,040 SF
Lot size
0.57 Acres
Property subtype
INDUSTRIAL
Zoning
HI
Site & Location
Neighborhood
East Central
Listing Agency:
Cantu Commercial Properties
(509) 777-1111
Listed By:
Sam Morse · License #B9988
(509) 370-9166
Source:
Moodyscre
Added: Feb 6, 2025
Changed: Oct 25
Last Checked: Oct 28 at 11:13AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex warehouse property includes two buildings totaling 5,040 square feet, plus a secured lot and ample parking. The main building is 2,920 square feet and features an approximately 700-square-foot garage/shop, a large showroom, and a 7’ wide by 8’ tall roll-up door. A separate storage/shop building provides 2,120 square feet with two roll-up doors measuring 9’ wide by 7’ tall and 10’ wide by 9’ tall (see attached floorplan).
The property offers one full block of Freya Street exposure and is located on a lot sized 25,000 square feet. Zoning is listed as HI, and the remarks note bill board lease income with the sale of the property.
For additional details on zoning and use, contact the listing agent.
The property offers one full block of Freya Street exposure and is located on a lot sized 25,000 square feet. Zoning is listed as HI, and the remarks note bill board lease income with the sale of the property.
For additional details on zoning and use, contact the listing agent.
Key Highlights
- Flex warehouse on a secured lot with one full block of Freya Street exposure
- Total size about 5,040 SF across two buildings: 2,920 SF main building and 2,120 SF storage/shop building
- Main building includes a ~700 SF garage/shop and a 7' wide x 8' tall roll‑up door plus large showroom space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,324
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,480
$586.5K
Cap Rate 7%
$418,914
$418.9K
Cap Rate 9%
$325,822
$325.8K
Market Conditions
NOI Build-Up for 5,040 SF
Gross rent
$44.8K $8.88/SF
− Vacancy
−$2.9K −$0.57/SF
EGI
$41.9K $8.31/SF
− OpEx
−$12.6K −$2.49/SF
NOI
$29.3K $5.82/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,480
Cap Rate 7%
$418,914
Cap Rate 9%
$325,822
Alternative Uses
Best Use
Industrial
$418.9K
$366.6K – $488.7K
NOI $29,324 @ 7.0% cap · market cap 5.88%
Second Best
Flex RnD
$389.0K
$340.4K – $453.8K
NOI $27,229 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,022 @ 7.0% cap · market cap 18.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse property with secured lot, showroom space, and multiple roll-up doors across two buildings.
Where is this flex space located?
The property is located at 322 N Freya Spokane, WA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Flex warehouse on a secured lot with one full block of Freya Street exposure; Total size about 5,040 SF across two buildings: 2,920 SF main building and 2,120 SF storage/shop building; Main building includes a ~700 SF garage/shop and a 7' wide x 8' tall roll‑up door plus large showroom space
