Mixed-Use Property For
For Sale
Contact for pricing
Pending
5709 W Sunset Hwy, Spokane, WA 99224
Mixed-use property with stable cash flow and owner-user potential.
Property Size41,902 SF
Days on Market172
Property Features for 5709 W Sunset Hwy
General Information
Standard status
Pending
Size
41,902 SF
Property subtype
Mixed Use, Office
Building Details
Buildings
1
Listing Agency:
KIEMLE HAGOOD
(509) 838-6541
Listed By:
Erik Nelson · License #24825
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Jul 24 at 5:49AM
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 mixed-use property offers an owner-user opportunity with the potential for stable cash flow. The property has long-term tenants in place, including International Aerospace Coatings, Inc, US Customs and Border Protection TSA, and Prometric. The property offers the ability to occupy up to approximately 22,369 rentable square feet in the fourth quarter of 2026. The property has a total size of 41,902 square feet.
Key Highlights
- Ability to occupy up to ±22,369 RSF in 4th Quarter of 2026
- Stable cash flow
- Owner user opportunity
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
$500,467
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
7.70%
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%
$10,009,340
$10.0M
Cap Rate 7%
$7,149,529
$7.1M
Cap Rate 9%
$5,560,744
$5.6M
Market Conditions
NOI Build-Up for 41,902 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
$879.9K $21.00/SF
− Vacancy
−$79.2K −$1.89/SF
EGI
$800.7K $19.11/SF
− OpEx
−$300.3K −$7.17/SF
NOI
$500.5K $11.94/SF
Area
Spokane, WA
Vacancy
9.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
37.50%
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%
$10,009,340
Cap Rate 7%
$7,149,529
Cap Rate 9%
$5,560,744
Alternative Uses
Best Use
Office B
$8.57M
$7.50M – $10.00M
NOI $599,995 @ 7.0% cap · market cap 9.23%
Second Best
Mixed Use
$7.15M
$6.26M – $8.34M
NOI $500,467 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$10.81M
$9.46M – $12.61M
NOI $756,750 @ 7.0% cap · market cap 11.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 99224, WA
24,085
Population
10,559
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
96%
High-School Grad
118.8 sq mi
ZIP Area
203
Density / Sq Mi
$76,785
Median Household Income
$50,678
Median Earnings
$1,290
Median Rent
$439,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with stable cash flow and owner-user potential.
Where is this mixed-use property located?
The property is located at 5709 W Sunset Hwy Spokane, WA.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Ability to occupy up to ±22,369 RSF in 4th Quarter of 2026; Stable cash flow; Owner user opportunity
