Downtown Office
417 W 1st Ave, Spokane, WA 99201
For Sale
New
$435,000
Commercial Sale, Spokane, WA
Property Size1,994 SF
Price / SF$218.15
Days on Market1
Property Features for 417 W 1st Ave
General Information
Property type
Property subtype
Basement
View
Elementary school district
Directions
Standard status
APN
Additional Details
Property Use
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Floors in Building
Building materials
Roof type
Listing Agency:
Urban Settlements
(509) 900-8005
Listed By:
Lyndsey Connors
(509) 944-0979
Added: Nov 10
Last Checked: Nov 10 at 9:06PM
MLS# 202626895
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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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 office condominium at 417 W 1st Ave is located in downtown Spokane. Built in 1919, the building has brick construction, a composition roof, and forced-air heating fueled by natural gas.
The property is in Spokane’s central business district, with access to Interstate 90 and downtown transit. Restaurants, hotels, and retail are also identified among the nearby amenities.
The property is in Spokane’s central business district, with access to Interstate 90 and downtown transit. Restaurants, hotels, and retail are also identified among the nearby amenities.
Key Highlights
- 1,994‑square‑foot office condominium at 417 W 1st Ave
- Built in 1919 with brick construction
- Forced‑air heating with natural gas
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
Who owns this building?
See the owner, sales and loan history
Open 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
$259,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 compact commercial condominium in Spokane’s central business district offers a downtown setting with access to transit and I-90.
Where is this office unit located?
The property is located at 417 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 office condominium at 417 W 1st Ave; Built in 1919 with brick construction; Forced‑air heating with natural gas
