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    Functional Industrial Warehouse For Sale Title is generated by Realmo AI

    5202 N Nevada Street, Spokane, WA 99207

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    For Sale
    $425,000

    Efficient industrial warehouse with vehicle lifts and updated roof.

    Type:Industrial
    Property size:
    2,396 SF
    Lot size:
    0.22 Acres
    Price / SF:
    $177/SF
    Added:
    Mar 6, 2026
    Days on Market:
    71
    Last Refresh:
    Apr 5 at 11:14 pm

    Property Features for 5202 N Nevada Street

    General Information

    Standard status
    Active
    Size
    2,396 SF
    Lot size
    0.22 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    Dave Black, SIOR CCIM

    Listing agent Dave Black, SIOR CCIM

    Listing office

    Listing date Mar 6, 2026

    Source Naiglobal

    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 Dave Black, SIOR CCIM

    HighLights

    • Functional industrial warehouse with practical amenities
    • Includes 2 vehicle lifts and a new roof
    • High‑visibility location on Nevada Street with convenient access to commuter rail and major arterials
    • City water and sewer services
    • +/- 2,396 SF building size on a 0.22‑acre lot
    • Convenient access to transportation, including 11 minutes to downtown Spokane rail station and 21 minutes to Spokane International Airport

    Overview

    This functional industrial warehouse offers an efficient operational footprint with amenities such as vehicle lifts, city utilities, and a newly updated roof. Located on Nevada Street, the property benefits from high visibility and accessibility. Nearby transportation connections facilitate logistics and regional movement. The single-story structure, built in 1956, has a building size of approximately 2,396 square feet and is situated on a 0.22-acre lot. It is zoned RSF (Residential Single-Family) and includes city water and sewer services. Heating is provided by an oil-fired system. Convenient access to commuter rail and major arterials is available, with an 11-minute drive to downtown Spokane rail station and a 21-minute drive to Spokane International Airport. The property is located in North Spokane and is suitable for users needing straightforward industrial space, delivering convenience, flexibility, and dependable utility in a well-established Spokane corridor.

    Financial Insights

    Value Estimation Calculated for Retail

    Conservative
    $276.2K
    NOI $24,861 @ 9.00% cap · cautious / downside scenario
    Moderate
    $355.2K
    NOI $24,861 @ 7.00% cap · market / base-case scenario
    Aggressive
    $497.2K
    NOI $24,861 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Retail

    Component $ $/SF
    Gross rent $38.8k $16.20
    − Vacancy −$3.3k −$1.38
    EGI $35.5k $14.82
    − OpEx −$10.7k −$4.45
    NOI $24.9k $10.38
    2,396 SF · lease $16.20/SF/yr · vacancy 8.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Retail
    $355.2K
    $310.8K – $414.4K (±1% cap)
    NOI $24,861 @ 7.0% cap · market cap 5.85%
    Second Best
    Warehouse
    $223.6K
    $195.6K – $260.9K (±1% cap)
    NOI $15,651 @ 7.0% cap · market cap 3.68%
    Theoretical Best
    Office A
    $618.2K
    $540.9K – $721.2K (±1% cap)
    NOI $43,272 @ 7.0% cap · market cap 10.18%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Randy's Tire Shop (Bike/Boat/Book/etc) Store Cordova's Auto Repair ... Auto Repair Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Zip's Mini Storage — 6332 N Cincinnati St, Spokane, WA 99208
    • Storage Direct Self Storage — 1907 E Francis Ave, Spokane, WA 99208

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.395
    Latitude
    47.7051

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    FAQs

    What type of property is this?
    Warehouse - Efficient industrial warehouse with vehicle lifts and updated roof.
    Where is this warehouse located?
    The property is located at 5202 N Nevada Street Spokane, WA.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: Functional industrial warehouse with practical amenities; Includes **2 vehicle lifts and a new roof**; High‑visibility location on Nevada Street with convenient access to commuter rail and major arterials
    (509) 622-3535
    We can help!
    Listing Contact
    Dave Black, SIOR CCIM
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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