East Central Office Space
For Sale
Contact for pricing
4226 E Mission Ave, Spokane, WA
Office space for rent in a vibrant, accessible location.
Property Size4,080 SF
Lot Size0.29 Acres
Price / SF$183.82
Days on Market271
Property Features for 4226 E Mission Ave
General Information
Standard status
Active
Size
4,080 SF
Lot size
0.29 Acres
Property subtype
OFFICE
Lease Type
NNN
Properties For Sale
at 4226 E Mission Ave Contact us- Size
- 4,080 SF
- Type
- OFFICE
- Lease Type
- NNN
- Availability
- AVAILABLE, 30 Days
Office
This property is located in the vibrant and accessible East Central neighborhood...
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Listing Agency:
Daines Capital
(509) 590-9114
Listed By:
Steven Daines
(509) 590-9114
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 12
Last Checked: Aug 21 at 2:44PM
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 Daines Capital
Investment Insights
Based on property information with market context.
Located in the East Central neighborhood, this property offers 4,080 square feet of office space for rent. The location provides connectivity to downtown Spokane and surrounding areas via I-90 and major arterial roads. The surrounding neighborhood offers local dining options, retail stores, and recreational spaces. The property is near key commercial and industrial hubs.
Key Highlights
- Prime location in the vibrant and accessible East Central neighborhood.
- Excellent connectivity to downtown Spokane and surrounding areas via I‑90 and major arterial roads.
- Proximity to key commercial and industrial hubs.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,422
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,168,440
$1.2M
Cap Rate 7%
$834,600
$834.6K
Cap Rate 9%
$649,133
$649.1K
Market Conditions
NOI Build-Up for 4,080 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.6K $22.20/SF
− Vacancy
−$12.7K −$3.11/SF
EGI
$77.9K $19.09/SF
− OpEx
−$19.5K −$4.77/SF
NOI
$58.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,168,440
Cap Rate 7%
$834,600
Cap Rate 9%
$649,133
Alternative Uses
Best Use
Office B
$834.6K
$730.3K – $973.7K
NOI $58,422 @ 7.0% cap · market cap 7.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$921.1K – $1.23M
NOI $73,685 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office space for rent in a vibrant, accessible location.
Where is this office units located?
The property is located at 4226 E Mission Ave Spokane, WA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime location in the vibrant and accessible East Central neighborhood.; Excellent connectivity to downtown Spokane and surrounding areas via I‑90 and major arterial roads.; Proximity to key commercial and industrial hubs.
