Flex Warehouse with
For Sale
Contact for pricing
3626 E Trent Ave, Spokane, WA 99202
Flex warehouse includes a retail showroom, three drive-in overhead doors, and three-phase power with an active security system.
Property Size8,020 SF
Price / SF$123.44
Days on Market275
Property Features for 3626 E Trent Ave
General Information
Standard status
Active
Size
8,020 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Drive-In Doors
3
Heavy Power
Yes
Amenities
Active Security System
Listing Agency:
First Look Real Estate
(509) 981-7778
Listed By:
Kenneth Lewis
(509) 981-7778
Source:
Moodyscre
Added: Nov 10, 2025
Changed: Aug 8
Last Checked: Aug 8 at 8:23PM
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 First Look Real Estate
Investment Insights
Based on property information with market context.
This flex warehouse offers a combination of warehouse and retail showroom space, supported by three drive-in overhead doors for loading and receiving. The building is equipped with three-phase power and an active security system.
The property is only a few blocks from the new Trent Avenue Interchange for the North/South Freeway, providing convenient access from Trent, Sycamore, or Boone.
For sellers and buyers evaluating storage, light distribution, or mixed-use operations that require both warehouse access and a retail-facing component, the current drive-in and showroom configuration provides a practical starting point.
The property is only a few blocks from the new Trent Avenue Interchange for the North/South Freeway, providing convenient access from Trent, Sycamore, or Boone.
For sellers and buyers evaluating storage, light distribution, or mixed-use operations that require both warehouse access and a retail-facing component, the current drive-in and showroom configuration provides a practical starting point.
Key Highlights
- Flex warehouse with retail showroom and showroom space
- Includes 3 drive‑in overhead doors
- 3‑phase power
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
$52,389
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
5.29%
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%
$1,047,780
$1.0M
Cap Rate 7%
$748,414
$748.4K
Cap Rate 9%
$582,100
$582.1K
Market Conditions
NOI Build-Up for 8,020 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
$68.3K $8.52/SF
− Vacancy
−$6.7K −$0.83/SF
EGI
$61.6K $7.69/SF
− OpEx
−$9.2K −$1.15/SF
NOI
$52.4K $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%
$1,047,780
Cap Rate 7%
$748,414
Cap Rate 9%
$582,100
Alternative Uses
Best Use
Warehouse
$748.4K
$654.9K – $873.2K
NOI $52,389 @ 7.0% cap · market cap 5.29%
Second Best
Industrial
$666.6K
$583.3K – $777.7K
NOI $46,662 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$2.07M
$1.81M – $2.41M
NOI $144,841 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Drive-in doors
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Balanced
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.
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse includes a retail showroom, three drive-in overhead doors, and three-phase power with an active security system.
Where is this flex space located?
The property is located at 3626 E Trent Ave Spokane, WA.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Flex warehouse with retail showroom and showroom space; Includes 3 drive‑in overhead doors; 3‑phase power
