Building Details

Building Size 26,143 SF

Construction steel frame

Listing Agency: Kiemle Hagood Show Phone

Listed By: Mark Lucas Show Phone

Source: Moodyscre

Added: Jan 9 Changed: Oct 5 Last Checked: Oct 15 at 1:43AM

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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 Kiemle Hagood

Investment Insights

Based on property information with market context.

This flex property at 414 N. Sycamore St. includes approximately 37,500 SF of site area and 26,143 SF of warehouse and office space. The improvements feature steel-frame construction, forced-air heating, and multiple loading doors serving both dock and grade-level access. The property is leased to Valley Ford Metal Crafters through January 31, 2028, under an NNN lease structure.

The Spokane property is located minutes from I-90 and the city’s Central Business District. Its address is 414 N. Sycamore, Spokane, WA 99202, providing an industrial setting with access to major transportation and downtown Spokane. The existing lease and combined office-warehouse configuration support continued industrial occupancy.

Key Highlights

• Approximately 37,500 SF site area with 26,143 SF of warehouse and office space
• Leased to Valley Ford Metal Crafters through January 31, 2028
• NNN lease structure

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$152,105

Cap Rate

8.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,042,100 $3.0M

Cap Rate 7%

$2,172,929 $2.2M

Cap Rate 9%

$1,690,056 $1.7M

Market Conditions

NOI Build-Up for 26,143 SF

Gross rent

$232.1K $8.88/SF

− Vacancy

−$14.9K −$0.57/SF

EGI

$217.3K $8.31/SF

− OpEx

−$65.2K −$2.49/SF

NOI

$152.1K $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%

$3,042,100

Cap Rate 7%

$2,172,929

Cap Rate 9%

$1,690,056

Alternative Uses

Best Use

Office B

$5.35M

$4.68M – $6.24M (±1% cap)

NOI $374,342 @ 7.0% cap · market cap 20.23%

Second Best

Warehouse

$2.44M

$2.13M – $2.85M (±1% cap)

NOI $170,774 @ 7.0% cap · market cap 9.23%

Theoretical Best

Office A

$6.74M

$5.90M – $7.87M (±1% cap)

NOI $472,143 @ 7.0% cap · market cap 25.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Stinson Sales Corporation Medical Supply Store VMC Metal Fabrication Plant Valleyford Metal Crafters, ... Metal Fabrication Plant

Suggested Use

Top Pick Real Estate Agency Hair Salon Garden Center Dental Office Tech Support Center Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

729

Businesses Nearby

Well-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

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial flex property combining warehouse and office areas with multiple loading options and an existing NNN lease.

Where is this flex space located?

The property is located at 414 N Sycamore Spokane, WA.

What is the asking price?

The asking price for this property is $1,850,000.

What are key features of this property?

This property features: Approximately 37,500 SF site area with 26,143 SF of warehouse and office space; Leased to Valley Ford Metal Crafters through January 31, 2028; NNN lease structure