Multi-Tenant Neighborhood Retail
5521 N Alberta Spokane, WA 99205
5521 N Alberta, Spokane, WA, 99205
Contact for pricing
For Sale
Contact for pricing
Multi-tenant retail building with 28 on-site parking stalls and Neighborhood Retail (NR-35) zoning.
Property Size7,915 SF
Price / SF$176.25
Days on Market127
Property Features for 5521 N Alberta
General Information
- Standard status
- Active
- Size
- 7,915 SF
- Property subtype
- RETAIL
Listing agency
Kiemle Hagood
(509) 838-6541
Listed by
Richard Fox · License #RRE-BRO-LIC-46500
(509) 755-7580
Source
Moodyscre
Added: Mar 17 Updated: Jul 21 at 7:08AM Checked: Jul 21 at 7:08AM
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.
For sale, this multi-tenant retail building is located within Loma Vista Shopping Center in North Spokane. The property provides a functional layout designed to support a mix of neighborhood-oriented tenants, with 28 on-site parking stalls to serve customers and visitors.
Situated at 5521 N Alberta Street, the center is positioned along an established commercial corridor with surrounding residential density and convenient neighborhood access. The current tenancy is described as a stable mix of daily-needs operators.
The building is approximately 7,915 square feet and is zoned Neighborhood Retail (NR-35), which supports a variety of retail and service-oriented uses within a pedestrian-scaled environment.
Situated at 5521 N Alberta Street, the center is positioned along an established commercial corridor with surrounding residential density and convenient neighborhood access. The current tenancy is described as a stable mix of daily-needs operators.
The building is approximately 7,915 square feet and is zoned Neighborhood Retail (NR-35), which supports a variety of retail and service-oriented uses within a pedestrian-scaled environment.
Key Highlights
- Multi‑tenant retail building at 5525 N. Alberta Street in North Spokane
- ±7,915 SF retail building with a functional multi‑tenant layout
- Neighborhood Retail (NR‑35) zoning, allowing a variety of retail and service‑oriented uses
Local Financial Insights For Retail
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 | $128.2k | $16.20 |
| − Vacancy | −$10.9k | −$1.38 |
| EGI | $117.3k | $14.82 |
| − OpEx | −$35.2k | −$4.45 |
| NOI | $82.1k | $10.38 |
7,915 SF · lease $16.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.17M
$1.03M – $1.37M
NOI $82,127 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,945 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Tel-Phone Resources Company
Telecommunications Service
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FAQs
What type of property is this?
Shopping center - Multi-tenant retail building with 28 on-site parking stalls and Neighborhood Retail (NR-35) zoning.
Where is this shopping center located?
The property is located at 5521 N Alberta Spokane, WA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Multi‑tenant retail building at 5525 N. Alberta Street in North Spokane; ±7,915 SF retail building with a functional multi‑tenant layout; Neighborhood Retail (NR‑35) zoning, allowing a variety of retail and service‑oriented uses
