Two-Bay Light Industrial
5823 N Florida St Spokane, WA 99217
For Sale
Contact for pricing
Two light industrial parcels offer clear-span warehouse space with a total 1,200 SF office and fenced, mostly paved yard.
Property Size11,760 SF
Price / SF$97.79
Days on Market148
Property Features for 5823 N Florida St
General Information
Standard status
Active
Size
11,760 SF
Property subtype
Industrial
Building Details
Year Built
1979
Listing Agency:
Sds Realty Inc.
(509) 462-9310
Listed By:
Vic Overholser · License #WA
Source:
Crexi
Added: Mar 2
Changed: Jul 21
Last Checked: Jul 26 at 11:13AM
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 Sds Realty Inc.
Investment Insights
Based on property information with market context.
The offering includes two separate light industrial parcels. 5817 N. Florida features a 1,200 SF shop with a roll-up door and heat, with no restroom. 5827 N. Florida provides 10,560 SF total with two large bays of approximately 5,000 SF each, plus approximately 1,200 SF office total and a small bay of about 560 SF. Construction is steel with clear-span design, insulated metal exterior, and crane tracks. Power is in place for industrial use (not 3-phase), with HVAC serving the office and forced-air gas heat in the warehouse.
Both parcels include yards that are fenced and mostly paved. Occupancy is in place for 5817 N. Florida with availability upon 30-day notice, while 5827 N. Florida is scheduled for the current tenant to vacate by April 1, 2026. The main building at 5827 N. Florida can be leased as either 10,560 SF or split to 5,000 SF bays.
The site totals 11,760 SF across both parcels and is described as light industrial, supported by the clear-span warehouse layout, roll-up door/shop configuration, and on-site industrial power and heating.
Both parcels include yards that are fenced and mostly paved. Occupancy is in place for 5817 N. Florida with availability upon 30-day notice, while 5827 N. Florida is scheduled for the current tenant to vacate by April 1, 2026. The main building at 5827 N. Florida can be leased as either 10,560 SF or split to 5,000 SF bays.
The site totals 11,760 SF across both parcels and is described as light industrial, supported by the clear-span warehouse layout, roll-up door/shop configuration, and on-site industrial power and heating.
Key Highlights
- Two light industrial parcels totaling 17,776 SF lot area: 5817 (6,200 SF / .14 ac) and 5827 (18,786 SF / .43 ac).
- 5817 N. Florida offers a 1,200 SF shop with roll‑up door and heat; no restroom; tenant available with 30‑day notice.
- 5827 N. Florida includes 10,560 SF with two large clear‑span bays (~5,000 SF each) plus ~1,200 SF total office; small 560 SF bay.
Financial Insights For Warehouse
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 | $100.2k | $8.52 |
| − Vacancy | −$9.8k | −$0.83 |
| EGI | $90.4k | $7.69 |
| − OpEx | −$13.6k | −$1.15 |
| NOI | $76.8k | $6.53 |
11,760 SF · lease $8.52/SF/yr · vacancy 9.80% · expense 15.00%
Alternative Uses
Best Use
Office B
$2.41M
$2.10M – $2.81M
NOI $168,391 @ 7.0% cap · market cap 14.64%
Second Best
Warehouse
$1.10M
$960.3K – $1.28M
NOI $76,820 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$3.03M
$2.65M – $3.54M
NOI $212,386 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Conseal Containers, LLC — 3811 E Queen Ave, Spokane, WA 99217
- Guardian Self Storage — 3727 E Queen Ave, Spokane, WA 99217
- The Armory — 3605 E Rowan Ave, Spokane, WA 99217
Frequently Asked Questions
What type of property is this?
Warehouse - Two light industrial parcels offer clear-span warehouse space with a total 1,200 SF office and fenced, mostly paved yard.
Where is this warehouse located?
The property is located at 5823 N Florida St Spokane, WA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two light industrial parcels totaling 17,776 SF lot area: 5817 (6,200 SF / .14 ac) and 5827 (18,786 SF / .43 ac).; 5817 N. Florida offers a 1,200 SF shop with roll‑up door and heat; no restroom; tenant available with 30‑day notice.; 5827 N. Florida includes 10,560 SF with two large clear‑span bays (~5,000 SF each) plus ~1,200 SF total office; small 560 SF bay.
