Downtown Office
417-423 W 1st Ave, Spokane, WA 99201
For Sale
New
Contact for pricing
A 1,994-square-foot commercial condominium in downtown Spokane offers space for office or service operations.
Property Size1,994 SF
Price / SF$218.15
Days on Market5
Property Features for 417-423 W 1st Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Highway Access
Public Transit
Additional Details
Property Use
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Dominic Dickerson · License WA #25004432
(508) 808-0066
Source:
Moodyscre
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 10 at 10:38AM
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
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.
This 1,994-square-foot commercial condominium unit is located in downtown Spokane. Its commercial space is identified as Unit 1B and is suited to office or service-business use, as well as professional operations.
The property is in Spokane’s central business district, with access to Interstate 90 and downtown transit. Restaurants, hotels, and retail are also identified in the surrounding downtown area. The unit’s commercial condominium format and listed office classification define its principal property characteristics.
The property is in Spokane’s central business district, with access to Interstate 90 and downtown transit. Restaurants, hotels, and retail are also identified in the surrounding downtown area. The unit’s commercial condominium format and listed office classification define its principal property characteristics.
Key Highlights
- 1,994‑square‑foot commercial condominium unit
- Located in downtown Spokane’s central business district
- Access to Interstate 90 and downtown transit
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
7,537
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 - A 1,994-square-foot commercial condominium in downtown Spokane offers space for office or service operations.
Where is this office unit located?
The property is located at 417-423 W 1st Ave 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 unit; Located in downtown Spokane’s central business district; Access to Interstate 90 and downtown transit
