Retail
For Sale
$400,000
514 West 1st Avenue, Spokane, WA 99201
Unit 1 offers a dedicated commercial footprint for retail use.
Property Size4,338 SF
Price / SF$173.91
Days on Market68
Property Features for 514 West 1st Avenue
General Information
Standard status
Active
Size
4,338 SF
Property subtype
Retail
Building Details
Building Size
4,338 SF
Listing Agency:
Black Commercial, Inc.
Listed By:
Greg Peach
(360) 600-6902
Source:
Naiblack
Added: Aug 8
Changed: Oct 5
Last Checked: Oct 12 at 5:57PM
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 Black Commercial, Inc.
Investment Insights
Based on property information with market context.
Unit 1 at 514 West 1st Avenue provides approximately 2,300 SF of retail space. The property is located in Spokane, Washington 99201.
Key Highlights
- Unit 1 contains ± 2,300 SF
- Located at 514 West 1st Avenue, Spokane, WA 99201
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,865
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,300
$477.3K
Cap Rate 7%
$340,929
$340.9K
Cap Rate 9%
$265,167
$265.2K
Market Conditions
NOI Build-Up for 2,300 SF
Gross rent
$37.3K $16.20/SF
− Vacancy
−$3.2K −$1.38/SF
EGI
$34.1K $14.82/SF
− OpEx
−$10.2K −$4.45/SF
NOI
$23.9K $10.38/SF
Area
Spokane, WA
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$477,300
Cap Rate 7%
$340,929
Cap Rate 9%
$265,167
Alternative Uses
Best Use
Retail
$340.9K
$298.3K – $397.8K
NOI $23,865 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$593.4K
$519.2K – $692.3K
NOI $41,538 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,777
Businesses Nearby
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Retail space - Unit 1 offers a dedicated commercial footprint for retail use.
Where is this retail space located?
The property is located at 514 West 1st Avenue Spokane, WA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Unit 1 contains ± 2,300 SF; Located at 514 West 1st Avenue, Spokane, WA 99201
