Historic Corner Office
For Sale
Contact for pricing
Pending
4704 N MAPLE ST, Spokane, WA 99205
Constructed in 1926, this corner office building totals 2,211 SF with additional basement storage and mechanical space.
Property Size2,211 SF
Lot Size0.17 Acres
Days on Market126
Property Features for 4704 N MAPLE ST
General Information
Standard status
Pending
Size
2,211 SF
Class
C
Lot size
0.17 Acres
Property subtype
Office
Zoning
Office
Additional Details
Traffic Count
45,000 vehicles/day
Building Details
Year Built
1926
Buildings
1
Stories
1
Units
1
Listing Agency:
Coldwell Banker Commercial
Listed By:
Barb Pielli · License #WA- B41414
Source:
Crexi
Added: May 5
Changed: Sep 3
Last Checked: Aug 14 at 7:33AM
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 Coldwell Banker Commercial
Investment Insights
Based on property information with market context.
Constructed in 1926, this historic office property was originally built as a State Farm office and is positioned on a corner lot. The building provides 2,211 SF of space, including basement storage and mechanical space, supported by the character and layout of the original construction.
Located at the prominent intersection of Maple Street and Wellesley Avenue, the property sits along two well-traveled arterial corridors with combined traffic counts exceeding approximately 35,000–45,000 vehicles per day. An additional adjacent vacant lot is available but is not included in the purchase price; details are available through the listing broker.
The existing configuration is suited for professional office use, boutique retail, service business, or an owner-user seeking a distinctive property with historic architectural character.
Located at the prominent intersection of Maple Street and Wellesley Avenue, the property sits along two well-traveled arterial corridors with combined traffic counts exceeding approximately 35,000–45,000 vehicles per day. An additional adjacent vacant lot is available but is not included in the purchase price; details are available through the listing broker.
The existing configuration is suited for professional office use, boutique retail, service business, or an owner-user seeking a distinctive property with historic architectural character.
Key Highlights
- Constructed in 1926, historic corner office building at Maple Street and Wellesley Avenue
- 2,211 SF total office space including basement storage/mechanical space
- 7,335 SF lot size
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
$31,659
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
8.44%
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%
$633,180
$633.2K
Cap Rate 7%
$452,271
$452.3K
Cap Rate 9%
$351,767
$351.8K
Market Conditions
NOI Build-Up for 2,211 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
$49.1K $22.20/SF
− Vacancy
−$6.9K −$3.11/SF
EGI
$42.2K $19.09/SF
− OpEx
−$10.6K −$4.77/SF
NOI
$31.7K $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%
$633,180
Cap Rate 7%
$452,271
Cap Rate 9%
$351,767
Alternative Uses
Best Use
Office B
$452.3K
$395.7K – $527.7K
NOI $31,659 @ 7.0% cap · market cap 8.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$570.4K
$499.1K – $665.5K
NOI $39,931 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
45,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
697
Businesses Nearby
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
Median Home Value
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 building - Constructed in 1926, this corner office building totals 2,211 SF with additional basement storage and mechanical space.
Where is this office building located?
The property is located at 4704 N MAPLE ST Spokane, WA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Constructed in 1926, historic corner office building at Maple Street and Wellesley Avenue; 2,211 SF total office space including basement storage/mechanical space; 7,335 SF lot size
