Light Industrial Warehouse with Fenced
For Sale
Contact for pricing
4723 N Rebecca St, Spokane, WA 99217
Warehouse and office improvements include secure outdoor storage, multiple access points, and 3-phase power.
Property Size6,800 SF
Lot Size1.43 Acres
Price / SF$147.06
Days on Market8
Property Features for 4723 N Rebecca St
General Information
Standard status
Active
Size
6,800 SF
Total Parking Spaces
15
Lot size
1.43 Acres
Property subtype
INDUSTRIAL
Zoning
Light Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
21 ft
Warehouse Space
6,260 SF
Office Build-Out
540 SF
Three-Phase Power
Yes
Amenities
conference room
Building Details
Buildings
1
Building Size
6,800 SF
Construction
metal
Listing Agency:
Daines Capital
(509) 590-9114
Listed By:
Seth Peterson
(509) 209-4920
Source:
Moodyscre
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 22 at 10:12PM
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.
This 6,800-square-foot warehouse property at 4723 N. Rebecca St. includes approximately 6,260 square feet of warehouse space and 540 square feet of office space. The metal building has a 21-foot height, four 14' x 12' overhead doors, two bathrooms, a conference room, gas heaters, and a metal roof and siding. A fully fenced gravel yard provides secure outdoor storage, while 15 parking stalls support daily operations.
The property covers 1.43 acres across two parcels and is zoned Light Industrial. Five access points, including gates and curb cuts, provide entry from surrounding paved streets and sidewalks. Its location near the US-395/Wellesley Ave. interchange connects the site with transportation routes serving Spokane and the surrounding region.
The property covers 1.43 acres across two parcels and is zoned Light Industrial. Five access points, including gates and curb cuts, provide entry from surrounding paved streets and sidewalks. Its location near the US-395/Wellesley Ave. interchange connects the site with transportation routes serving Spokane and the surrounding region.
Key Highlights
- 6,800 SF service warehouse on 1.43 acres
- Approximately 6,260 SF of warehouse space and 540 SF of office space
- Four 14' x 12' overhead doors and 21' building height
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
$44,420
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
4.44%
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%
$888,400
$888.4K
Cap Rate 7%
$634,571
$634.6K
Cap Rate 9%
$493,556
$493.6K
Market Conditions
NOI Build-Up for 6,800 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
$57.9K $8.52/SF
− Vacancy
−$5.7K −$0.83/SF
EGI
$52.3K $7.69/SF
− OpEx
−$7.8K −$1.15/SF
NOI
$44.4K $6.53/SF
Area
Spokane, WA
Vacancy
9.80%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
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%
$888,400
Cap Rate 7%
$634,571
Cap Rate 9%
$493,556
Alternative Uses
Best Use
Warehouse
$634.6K
$555.3K – $740.3K
NOI $44,420 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.54M – $2.05M
NOI $122,808 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
21 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99217, WA
19,298
Population
8,166
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
93%
High-School Grad
51.4 sq mi
ZIP Area
375
Density / Sq Mi
$71,807
Median Household Income
$43,267
Median Earnings
$1,267
Median Rent
$329,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Guardian Self Storage — 3727 E Queen Ave, Spokane, WA 99217
- The Armory — 3605 E Rowan Ave, Spokane, WA 99217
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse and office improvements include secure outdoor storage, multiple access points, and 3-phase power.
Where is this warehouse located?
The property is located at 4723 N Rebecca St Spokane, WA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 6,800 SF service warehouse on 1.43 acres; Approximately 6,260 SF of warehouse space and 540 SF of office space; Four 14' x 12' overhead doors and 21' building height
