4-Bay Flex Industrial
4817 N Freya St Spokane, WA 99217
4817 N Freya St, Spokane, WA, 99217
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For Sale
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Four industrial/office flex units in a 1979 light-industrial building with open access on Freya Avenue.
Property Size7,200 SF
Price / SF$166.67
Days on Market121
Property Features for 4817 N Freya St
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1979
Listing agency
Kiemle Hagood
(208) 659-1821
Listed by
Tony Villelli · License #WA - 25738
Source
Crexi
Added: Mar 24 Updated: Jul 21 at 3:31PM Checked: Jul 21 at 3:31PM
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
Investment Insights
Based on property information with market context.
This property features four industrial/office flex units within a 4-bay layout. Built in 1979 and zoned light industrial, the space is designed to support flexible uses, including office, warehouse, or light manufacturing operations.
Located on Freya Avenue, the property provides open access and exposure along the corridor. Easy access to the north-south freeway (Highway 395) can support convenient transportation and logistics for day-to-day operations.
The building configuration is well-suited for tenants seeking a combined industrial and office setup, with multiple bays available within one property.
Located on Freya Avenue, the property provides open access and exposure along the corridor. Easy access to the north-south freeway (Highway 395) can support convenient transportation and logistics for day-to-day operations.
The building configuration is well-suited for tenants seeking a combined industrial and office setup, with multiple bays available within one property.
Key Highlights
- Four industrial/office flex units in a light‑industrial building built in 1979.
- Zoned light industrial and designed for office, warehouse, or light manufacturing uses.
- Open access on Freya Avenue with frontage for visibility and easy customer/vehicle access.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $159.8k | $22.20 |
| − Vacancy | −$22.4k | −$3.11 |
| EGI | $137.5k | $19.09 |
| − OpEx | −$34.4k | −$4.77 |
| NOI | $103.1k | $14.32 |
7,200 SF · lease $22.20/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.47M
$1.29M – $1.72M
NOI $103,097 @ 7.0% cap · market cap 8.59%
Second Best
Warehouse
$671.9K
$587.9K – $783.9K
NOI $47,032 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.86M
$1.63M – $2.17M
NOI $130,032 @ 7.0% cap · market cap 10.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Classic auto Trim
Furniture & Home Goods
Petroleum Sciences Inc
Laboratory
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FAQs
What type of property is this?
Flex space - Four industrial/office flex units in a 1979 light-industrial building with open access on Freya Avenue.
Where is this flex space located?
The property is located at 4817 N Freya St Spokane, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four industrial/office flex units in a light‑industrial building built in 1979.; Zoned light industrial and designed for office, warehouse, or light manufacturing uses.; Open access on Freya Avenue with frontage for visibility and easy customer/vehicle access.
