Industrial Shop with Office
For Sale
$2,200,000
3315 Tschirley, Greenacres, WA 99016
Includes 11,700 SF shop with 2–3 private offices, oversized doors, loading dock, and an on-site small house.
Property Size11,700 SF
Price / SF$188.03
Days on Market43
Property Features for 3315 Tschirley
General Information
Standard status
Active
Size
11,700 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,023
Amenities
Garage: Paved
0.00
Paved
Building Details
Year Built
1976
Listing Agency:
Avalon 24 Real Estate
Listed By:
Joel Elgee · License #DB30193
(509) 868-5264
Source:
Clearwaterproperties
Added: Jul 24
Changed: Sep 4
Last Checked: Sep 4 at 5:21AM
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 Avalon 24 Real Estate
Investment Insights
Based on property information with market context.
This industrial property for sale features 11,700 SF of shop space with 2–3 private offices. The site includes almost 2 acres of land and improvements designed for operational use, including oversized ground level doors and a loading dock. An additional small house is included on-site, offering flexibility as a rental or as a possible office conversion.
The property is located in Spokane Valley, WA, just a few blocks from the Amazon distribution center. Seller financing is available.
The property is located in Spokane Valley, WA, just a few blocks from the Amazon distribution center. Seller financing is available.
Key Highlights
- 11,700 SF industrial shop with 2–3 private offices
- Oversized ground‑level doors plus loading dock
- Almost 2 acres of land with room to expand
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
$76,428
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
3.47%
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%
$1,528,560
$1.5M
Cap Rate 7%
$1,091,829
$1.1M
Cap Rate 9%
$849,200
$849.2K
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
$99.7K $8.52/SF
− Vacancy
−$9.8K −$0.83/SF
EGI
$89.9K $7.69/SF
− OpEx
−$13.5K −$1.15/SF
NOI
$76.4K $6.53/SF
Area
Spokane Valley, 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%
$1,528,560
Cap Rate 7%
$1,091,829
Cap Rate 9%
$849,200
Alternative Uses
Best Use
Warehouse
$1.09M
$955.4K – $1.27M
NOI $76,428 @ 7.0% cap · market cap 3.47%
Second Best
Industrial
$972.5K
$850.9K – $1.13M
NOI $68,073 @ 7.0% cap · market cap 3.09%
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
5
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Includes 11,700 SF shop with 2–3 private offices, oversized doors, loading dock, and an on-site small house.
Where is this warehouse located?
The property is located at 3315 Tschirley 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 industrial shop with 2–3 private offices; Oversized ground‑level doors plus loading dock; Almost 2 acres of land with room to expand
