Class A Office
For Sale
$597,500
621 W Mallon Ave Ste 509, Spokane, WA 99201
Fully built office suite with private offices, conference space, river views, and dedicated parking.
Property Size1,837 SF
Price / SF$325.26
Days on Market53
Property Features for 621 W Mallon Ave Ste 509
General Information
Standard status
Active
Size
1,837 SF
Class
Class A
Total Parking Spaces
4
Property subtype
Mixed-Use
Additional Details
Office Units
1
Listing Agency:
TOK Inland Northwest LLC
Listed By:
Danny Davis · License #AB34364
(208) 691-6003
Source:
Tokcommercial
Added: Aug 23
Changed: Oct 6
Last Checked: Oct 12 at 6:25PM
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 Inland Northwest LLC
Investment Insights
Based on property information with market context.
Suite 509 at 621 W Mallon Ave is a 1,837-square-foot office condominium within Spokane’s Flour Mill. The Class A suite includes a completed high-end buildout, premium finishes, multiple private offices, conference space, and four dedicated parking spaces. Its configuration supports an established professional workplace for an owner-user or office occupant.
The property sits along the Spokane River on the north side of Downtown Spokane, adjacent to Riverfront Park and just south of the Spokane Arena. This setting places the office near downtown businesses, dining, entertainment, and other amenities while adding river-facing views and the distinctive character of the Flour Mill complex.
The property sits along the Spokane River on the north side of Downtown Spokane, adjacent to Riverfront Park and just south of the Spokane Arena. This setting places the office near downtown businesses, dining, entertainment, and other amenities while adding river-facing views and the distinctive character of the Flour Mill complex.
Key Highlights
- 1,837 SF Class A office condominium in Spokane’s Flour Mill
- Completed high‑end buildout with premium finishes
- Multiple private offices and dedicated conference space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,304
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$526,080
$526.1K
Cap Rate 7%
$375,771
$375.8K
Cap Rate 9%
$292,267
$292.3K
Market Conditions
NOI Build-Up for 1,837 SF
Gross rent
$40.8K $22.20/SF
− Vacancy
−$5.7K −$3.11/SF
EGI
$35.1K $19.09/SF
− OpEx
−$8.8K −$4.77/SF
NOI
$26.3K $14.32/SF
Area
Spokane, WA
Vacancy
14.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$526,080
Cap Rate 7%
$375,771
Cap Rate 9%
$292,267
Alternative Uses
Best Use
Office B
$375.8K
$328.8K – $438.4K
NOI $26,304 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$473.9K
$414.7K – $552.9K
NOI $33,176 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
5,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 99201, WA
15,716
Population
8,842
Households
1.8
Avg Household Size
39
Median Age
34%
College-Educated
91%
High-School Grad
3.0 sq mi
ZIP Area
5,239
Density / Sq Mi
$35,286
Median Household Income
$36,599
Median Earnings
$883
Median Rent
$259,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Fully built office suite with private offices, conference space, river views, and dedicated parking.
Where is this office units located?
The property is located at 621 W Mallon Ave Ste 509 Spokane, WA.
What is the asking price?
The asking price for this property is $597,500.
What are key features of this property?
This property features: 1,837 SF Class A office condominium in Spokane’s Flour Mill; Completed high‑end buildout with premium finishes; Multiple private offices and dedicated conference space
