Downtown Office
417 1st, Spokane, WA 99201
For Sale
New
$435,000
The Spokane suite is near transit, I-90, restaurants, hotels, and retail.
Property Size1,994 SF
Price / SF$218.15
Days on Market2
Property Features for 417 1st
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Public Transit
Additional Details
Property Use
Taxes and HOA fees
Annual Taxes
Amenities
Garage Spaces: 0
Building Details
Year Built
Listing Agency:
Urban Settlements
Listed By:
Lyndsey Connors
(509) 944-0979
Source:
Clearwaterproperties
Added: Nov 12
Last Checked: Nov 12 at 2:36PM
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 Urban Settlements
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 417 W. 1st Ave., Unit 1B, this office condominium contains 1,994 square feet. Built in 1919, the space is offered for sale or lease and is described as suitable for office or service business use.
The property is in downtown Spokane, with access to I-90 and downtown transit. Restaurants, hotels, and retail are also identified nearby.
The property is in downtown Spokane, with access to I-90 and downtown transit. Restaurants, hotels, and retail are also identified nearby.
Key Highlights
- 1,994‑square‑foot commercial condominium
- Built in 1919
- At 417 W. 1st Ave., Unit 1B, in downtown Spokane
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,552
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,040
$571.0K
Cap Rate 7%
$407,886
$407.9K
Cap Rate 9%
$317,244
$317.2K
Market Conditions
NOI Build-Up for 1,994 SF
Gross rent
$44.3K $22.20/SF
− Vacancy
−$6.2K −$3.11/SF
EGI
$38.1K $19.09/SF
− OpEx
−$9.5K −$4.77/SF
NOI
$28.6K $14.32/SF
Area
Spokane, WA
Vacancy
14.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,040
Cap Rate 7%
$407,886
Cap Rate 9%
$317,244
Alternative Uses
Best Use
Office B
$407.9K
$356.9K – $475.9K
NOI $28,552 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$514.5K
$450.2K – $600.2K
NOI $36,012 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
698
Businesses Nearby
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
Market
Average Price Trend$/SF for Office Units in Spokane, WA
Properties on Market for Office Units in Spokane
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - The Spokane suite is near transit, I-90, restaurants, hotels, and retail.
Where is this office unit located?
The property is located at 417 1st Spokane, WA.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 1,994‑square‑foot commercial condominium; Built in 1919; At 417 W. 1st Ave., Unit 1B, in downtown Spokane
