Spokane Flex Center with Expansion
For Sale
Contact for pricing
4212 W Sunset Blvd, Spokane, WA 99224
Versatile flex/office facility near downtown Spokane and airport.
Property Size19,925 SF
Lot Size2.93 Acres
Price / SF$138.02
Days on Market729
Property Features for 4212 W Sunset Blvd
General Information
Standard status
Active
Size
19,925 SF
Lot size
2.93 Acres
Property subtype
Mixed Use, Office
Zoning
Community Business
Site & Location
Neighborhood
Grandview/Thorpe
Building Details
Year Built
1962
Year Renovated
2015
Buildings
1
Stories
1
Listing Agency:
Kiemle HaGood
Listed By:
Tracy Poff · License #WA
(509) 755-7588
Source:
Crexi
Added: Oct 30, 2024
Changed: Oct 26
Last Checked: Oct 28 at 7:29AM
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
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Investment Insights
Based on property information with market context.
The Sunset West Flex Center, located at 4212 W. Sunset Blvd., Spokane, WA 99224, is a versatile flex, office, and production facility situated on a 2.93-acre parcel. The property offers approximately 19,925 square feet of main floor area. The masonry building was renovated in 2008, 2015, and 2020 and features roof-mounted HVAC units, 3-phase power, and a fire sprinkler system. Ample on-site parking is available, with 79 spaces and EV charging stations. The property is conveniently located minutes from downtown Spokane and Spokane International Airport. Additional land to the east of the building provides added privacy or future development potential. The property is suitable for various business needs and presents an investment opportunity. Building plans are available for a qualified purchaser.
Key Highlights
- Versatile flex/office and production facility with approximately 19,925 SF of main floor area.
- Ample on‑site parking with 79 spaces plus EV charging stations.
- Convenient location minutes from downtown Spokane and Spokane International Airport.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$115,927
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,318,540
$2.3M
Cap Rate 7%
$1,656,100
$1.7M
Cap Rate 9%
$1,288,078
$1.3M
Market Conditions
NOI Build-Up for 19,925 SF
Gross rent
$176.9K $8.88/SF
− Vacancy
−$11.3K −$0.57/SF
EGI
$165.6K $8.31/SF
− OpEx
−$49.7K −$2.49/SF
NOI
$115.9K $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%
$2,318,540
Cap Rate 7%
$1,656,100
Cap Rate 9%
$1,288,078
Alternative Uses
Best Use
Industrial
$1.66M
$1.45M – $1.93M
NOI $115,927 @ 7.0% cap · market cap 4.22%
Second Best
Flex RnD
$1.54M
$1.35M – $1.79M
NOI $107,647 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$5.14M
$4.50M – $6.00M
NOI $359,846 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 99224, WA
24,085
Population
10,559
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
96%
High-School Grad
118.8 sq mi
ZIP Area
203
Density / Sq Mi
$76,785
Median Household Income
$50,678
Median Earnings
$1,290
Median Rent
$439,700
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
Frequently Asked Questions
What type of property is this?
Flex space - Versatile flex/office facility near downtown Spokane and airport.
Where is this flex space located?
The property is located at 4212 W Sunset Blvd Spokane, WA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Versatile flex/office and production facility with approximately 19,925 SF of main floor area.; Ample on‑site parking with 79 spaces plus EV charging stations.; Convenient location minutes from downtown Spokane and Spokane International Airport.
