Industrial Shop with Private
For Sale
$2,200,000
3315 N Tschirley Rd, Greenacres, WA 99016
COMMERCIAL - Greenacres, WA
Property Size11,700 SF
Lot Size1.95 Acres
Price / SF$188.03
Days on Market228
Property Features for 3315 N Tschirley Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
IND
Basement
None
Lot features
Open Lot, Level
View
Territorial
Directions
GPS is accurate
Subdivision
Washington Counties
Standard status
Active
APN
55063.0135
Size
11,700 SF
Lot size
1.95 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
See exhibit A
Tax Annual Amount
11023
Legal Description
See exhibit A
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1976
Building materials
Steel Siding, Frame, Steel Frame
Roof type
Composition
Architectural style
Other
Listing Agency:
Avalon 24 Real Estate
(208) 215-2044
Listed By:
Joel Elgee · License #DB30193
(509) 868-5264
Added: Jan 5
Changed: Aug 5
Last Checked: Aug 21 at 9:06PM
MLS# 26-133
Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This industrial property includes approximately 11,700 square feet of shop space with two to three private offices. The site provides nearly two acres of land with room to expand and includes a small house that can be used as a rental or converted for office use. Loading infrastructure features oversized ground-level doors and a loading dock.
Zoned IND, the property is located in Greenacres, WA, at 3315 N Tschirley Rd. The listing notes the location is just a few blocks from the Amazon distribution center.
Seller financing is available. The combination of shop area, private offices, and additional on-site residential/office conversion option may support a variety of industrial and light commercial uses consistent with the IND zoning.
Zoned IND, the property is located in Greenacres, WA, at 3315 N Tschirley Rd. The listing notes the location is just a few blocks from the Amazon distribution center.
Seller financing is available. The combination of shop area, private offices, and additional on-site residential/office conversion option may support a variety of industrial and light commercial uses consistent with the IND zoning.
Key Highlights
- 11,700 SF of shop space with 2–3 private offices and room to expand on nearly 2 acres
- Oversized ground‑level doors plus a loading dock for industrial access
- Includes a small house that can be used as a rental or converted to an office
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
$125,307
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
5.70%
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%
$2,506,140
$2.5M
Cap Rate 7%
$1,790,100
$1.8M
Cap Rate 9%
$1,392,300
$1.4M
Market Conditions
NOI Build-Up for 11,700 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
$196.6K $16.80/SF
− Vacancy
−$29.5K −$2.52/SF
EGI
$167.1K $14.28/SF
− OpEx
−$41.8K −$3.57/SF
NOI
$125.3K $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%
$2,506,140
Cap Rate 7%
$1,790,100
Cap Rate 9%
$1,392,300
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,307 @ 7.0% cap · market cap 5.70%
Second Best
Warehouse
$1.09M
$955.4K – $1.27M
NOI $76,428 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,915 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99016, WA
18,496
Population
8,004
Households
2.3
Avg Household Size
38
Median Age
38%
College-Educated
95%
High-School Grad
24.6 sq mi
ZIP Area
752
Density / Sq Mi
$94,253
Median Household Income
$56,661
Median Earnings
$1,715
Median Rent
$450,000
Median Home Value
Market
Vacancy Rate% for Office 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?
Warehouse - Industrial shop with oversized ground-level doors, a loading dock, and private office space on nearly two acres.
Where is this warehouse located?
The property is located at 3315 N Tschirley Rd Greenacres, WA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 11,700 SF of shop space with 2–3 private offices and room to expand on nearly 2 acres; Oversized ground‑level doors plus a loading dock for industrial access; Includes a small house that can be used as a rental or converted to an office
