Building Details

Buildings 1

Building Size 1,200 SF

Listing Agency: TOK Commercial - Spokane Show Phone

Listed By: Kimberly Millet · License #WA,23027091

Source: Moodyscre

Added: Apr 16 Changed: Aug 29 Last Checked: Aug 29 at 1:33PM

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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 TOK Commercial - Spokane

Investment Insights

Based on property information with market context.

This storefront property includes a 1,200-square-foot building on 1.36 acres, with retail-facing space and a functional back office. The site is configured for commercial occupancy and includes utility connections near the street that may support future expansion or an additional income-producing use.

Located at 6063 Hwy 291 in Nine Mile Falls, the property has frontage along Highway 291. Business zoning accommodates multiple commercial use possibilities, subject to applicable requirements. The combination of a retail-oriented building, office functionality, acreage, and nearby utility connections provides a practical setup for an owner-user or commercial investment.

Key Highlights

• 1,200 SF building on 1.36 acres
• Retail frontage with functional back office
• Business zoning supports multiple commercial use possibilities

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

$14,164

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

2.83%

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%

$283,280 $283.3K

Cap Rate 7%

$202,343 $202.3K

Cap Rate 9%

$157,378 $157.4K

Market Conditions

NOI Build-Up for 1,200 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

$24.0K $20.04/SF

− Vacancy

−$5.2K −$4.30/SF

EGI

$18.9K $15.74/SF

− OpEx

−$4.7K −$3.93/SF

NOI

$14.2K $11.80/SF

Area

Spokane County, WA

Vacancy

21.47%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

25.00%

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%

$283,280

Cap Rate 7%

$202,343

Cap Rate 9%

$157,378

Alternative Uses

Best Use

Office B

$202.3K

$177.1K – $236.1K (±1% cap)

NOI $14,164 @ 7.0% cap · market cap 2.83%

Second Best

Retail

$188.4K

$164.9K – $219.8K (±1% cap)

NOI $13,188 @ 7.0% cap · market cap 2.64%

Theoretical Best

Office A

$277.3K

$242.6K – $323.5K (±1% cap)

NOI $19,410 @ 7.0% cap · market cap 3.88%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Law Firm Auto Parts Store Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 99026, WA

9,347

Population

3,623

Households

2.6

Avg Household Size

48

Median Age

28%

College-Educated

97%

High-School Grad

63.1 sq mi

ZIP Area

148

Density / Sq Mi

$98,125

Median Household Income

$48,693

Median Earnings

$1,110

Median Rent

$477,300

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this storefront properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Storefront property - Business-zoned storefront with a functional back office and utility connections positioned near the street.

Where is this storefront property located?

The property is located at 6063 Hwy 291 Nine Mile Falls, WA.

What is the asking price?

The asking price for this property is $499,999.

What are key features of this property?

This property features: 1,200 SF building on 1.36 acres; Retail frontage with functional back office; Business zoning supports multiple commercial use possibilities