Specialized Medical Facility For
For Sale
Contact for pricing
5511 E 3rd Ave, Spokane Valley, WA 99212
Commercial facility configured for medical and pharmaceutical operations.
Property Size11,970 SF
Price / SF$288.22
Days on Market142
Property Features for 5511 E 3rd Ave
General Information
Standard status
Active
Size
11,970 SF
Class
B
Property subtype
Office, Special Purpose
Lease Type
NNN
Listing Agency:
Hawkins Edwards
(509) 939-8828
Listed By:
Christopher Edwards · License #WA 129418
Source:
Crexi
Added: Mar 23
Changed: Aug 8
Last Checked: Aug 10 at 11:04AM
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 Hawkins Edwards
Investment Insights
Based on property information with market context.
This specialized commercial facility is configured for medical and pharmaceutical operations. It includes a sterile clean-room environment designed for compounding and preparation of specialty medications. The property offers an opportunity to acquire a healthcare facility with infrastructure suitable for specialty pharmacy, medical laboratory, infusion services, or other regulated life-science uses. The building is designed to support operations requiring controlled environments, specialized HVAC systems, and secure pharmaceutical handling. It is suited for companies operating in the specialty pharmacy, biotech, and healthcare services sectors. The property has a size of 11970 square feet.
Key Highlights
- Specialized commercial facility configured for medical and pharmaceutical operations.
- Includes a sterile clean‑room environment designed for compounding and preparation of specialty medications.
- Infrastructure suitable for specialty pharmacy, medical laboratory, infusion services, or other regulated life‑science uses.
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
$134,059
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
3.89%
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%
$2,681,180
$2.7M
Cap Rate 7%
$1,915,129
$1.9M
Cap Rate 9%
$1,489,544
$1.5M
Market Conditions
NOI Build-Up for 11,970 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
$244.2K $20.40/SF
− Vacancy
−$20.8K −$1.73/SF
EGI
$223.4K $18.67/SF
− OpEx
−$89.4K −$7.47/SF
NOI
$134.1K $11.20/SF
Area
Spokane Valley, WA
Vacancy
8.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
40.00%
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%
$2,681,180
Cap Rate 7%
$1,915,129
Cap Rate 9%
$1,489,544
Alternative Uses
Best Use
Healthcare Medical
$1.92M
$1.68M – $2.23M
NOI $134,059 @ 7.0% cap · market cap 3.89%
Second Best
Office B
$1.83M
$1.60M – $2.14M
NOI $128,199 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$2.60M
$2.28M – $3.03M
NOI $182,021 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
Demographics for 99212, WA
21,672
Population
9,496
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
1,762
Density / Sq Mi
$66,250
Median Household Income
$39,829
Median Earnings
$1,184
Median Rent
$314,300
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?
Medical center - Commercial facility configured for medical and pharmaceutical operations.
Where is this medical center located?
The property is located at 5511 E 3rd Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Specialized commercial facility configured for medical and pharmaceutical operations.; Includes a **sterile clean‑room environment** designed for compounding and preparation of specialty medications.; Infrastructure suitable for specialty pharmacy, medical laboratory, infusion services, or other regulated life‑science uses.
