Two-Bay Light Industrial
For Sale
Contact for pricing
5823 N Florida St, Spokane, WA 99217
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$93.54
Days on Market242
Property Features for 5823 N Florida St
General Information
Standard status
Active
Size
11,760 SF
Property subtype
Industrial
Lease Type
NNN
Site & Location
Neighborhood
Hillyard
Building Details
Year Built
1979
Buildings
2
Listing Agency:
Sds Realty Inc.
Listed By:
Vic Overholser · License #WA
(509) 462-9310
Source:
Crexi
Added: Mar 2
Changed: Oct 25
Last Checked: Oct 30 at 11:03AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$76,820
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,536,400
$1.5M
Cap Rate 7%
$1,097,429
$1.1M
Cap Rate 9%
$853,556
$853.6K
Market Conditions
NOI Build-Up for 11,760 SF
Gross rent
$100.2K $8.52/SF
− Vacancy
−$9.8K −$0.83/SF
EGI
$90.4K $7.69/SF
− OpEx
−$13.6K −$1.15/SF
NOI
$76.8K $6.53/SF
Area
Spokane, WA
Vacancy
9.80%
Lease Rate
$8.52 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,536,400
Cap Rate 7%
$1,097,429
Cap Rate 9%
$853,556
Alternative Uses
Best Use
Warehouse
$1.10M
$960.3K – $1.28M
NOI $76,820 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.03M
$2.65M – $3.54M
NOI $212,386 @ 7.0% cap · market cap 19.31%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99217, WA
19,298
Population
8,166
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
93%
High-School Grad
51.4 sq mi
ZIP Area
375
Density / Sq Mi
$71,807
Median Household Income
$43,267
Median Earnings
$1,267
Median Rent
$329,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
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 $1,100,000.
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.
