Spokane Valley Office Space
For Sale
Contact for pricing
323 S Pines, Spokane Valley, WA
Office space available for rent in Spokane Valley, Washington.
Property Size4,846 SF
Lot Size0.53 Acres
Price / SF$201.20
Days on Market673
Property Features for 323 S Pines
General Information
Standard status
Active
Size
4,846 SF
Lot size
0.53 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 323 S Pines Contact us- Size
- 4,846 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE
Office Building
NNNs are estimates and are subject to change.
Please see marketing flyer and contact...
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Listing Agency:
Black Commercial, Inc.
(509) 622-3566
Listed By:
Jon Jeffreys, SIOR
(509) 622-3566
Source:
Moodyscre
Added: Oct 17, 2024
Changed: Aug 8
Last Checked: Aug 19 at 5:08AM
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 office space, encompassing 4,846 square feet, is available for rent in Spokane Valley, Washington. Please refer to the marketing flyer and contact the listing broker for further details. Note that NNN estimates are subject to change.
Key Highlights
- Please see marketing flyer for more information.
- Contact listing broker for more information.
- NNNs are estimates.
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
$51,901
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
5.32%
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%
$1,038,020
$1.0M
Cap Rate 7%
$741,443
$741.4K
Cap Rate 9%
$576,678
$576.7K
Market Conditions
NOI Build-Up for 4,846 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
$81.4K $16.80/SF
− Vacancy
−$12.2K −$2.52/SF
EGI
$69.2K $14.28/SF
− OpEx
−$17.3K −$3.57/SF
NOI
$51.9K $10.71/SF
Area
Spokane Valley, WA
Vacancy
15.00%
Lease Rate
$16.80 /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%
$1,038,020
Cap Rate 7%
$741,443
Cap Rate 9%
$576,678
Alternative Uses
Best Use
Office B
$741.4K
$648.8K – $865.0K
NOI $51,901 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.1K – $1.23M
NOI $73,690 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office space available for rent in Spokane Valley, Washington.
Where is this office units located?
The property is located at 323 S Pines Spokane Valley, WA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Please see marketing flyer for more information.; Contact listing broker for more information.; NNNs are estimates.
