Light Industrial Ranch
627 N Madelia St Spokane, WA 99202
627 N Madelia St, Spokane, WA, 99202
$335,000
For Sale
$335,000
COMMERCIAL - Spokane, WA
Property Size2,366 SF
Lot Size0.32 Acres
Price / SF$141.59
Days on Market96
Property Features for 627 N Madelia St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- LI
- Basement
- Partial, Unfinished
- Standard status
- Active
- APN
- 35163.1013
- Size
- 2,366 SF
- Lot size
- 0.32 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4071
Utilities
- Heating system
- Forced Air, Natural Gas
Building Details
- Year built
- 1968
- Floors in Building
- 1
- Building materials
- Wood Siding
- Roof type
- Composition
Listing Agency
Kelly Right Real Estate of Spokane
(509) 489-7000
140 S ARTHUR ST STE 600, Spokane, WA
Listed by
Aaron Bell
(509) 489-7000
Added: Apr 17 Updated: Jul 8 at 8:52 pm Checked: Jul 21 at 3:06 am
MLS# 202615736
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1968 ranch home sits on a double lot and is zoned Light Industrial (LI). The main floor totals 1,690 square feet with three bedrooms and two full baths, along with a large laundry room featuring a closet and storage. A partial, unfinished 670 square foot basement adds additional space. Heating includes a gas furnace installed in 2015, supported by electric baseboard heat, and the property has two hot water heaters. Outside, there is a covered rear deck, a nicely landscaped 6-foot privacy fenced back yard, and a sprinkler system. The oversized three-car garage includes three openers, providing ample enclosed parking or work storage.
Located in Spokane, the property offers great access to I-90 and Spokane’s University District.
For buyers or operators seeking a light industrial zoned site with on-site enclosed space, this property combines a residential building with practical utility features such as substantial garage capacity, in-house laundry/storage, and outdoor functional improvements like the fenced yard and covered deck. The unfinished basement may be useful for additional storage or expansion depending on intended use and code requirements.
Located in Spokane, the property offers great access to I-90 and Spokane’s University District.
For buyers or operators seeking a light industrial zoned site with on-site enclosed space, this property combines a residential building with practical utility features such as substantial garage capacity, in-house laundry/storage, and outdoor functional improvements like the fenced yard and covered deck. The unfinished basement may be useful for additional storage or expansion depending on intended use and code requirements.
Key Highlights
- 1968 ranch home with 1,690 SF main level featuring 3 bedrooms and 2 full baths
- Light Industrial (LI) double lot; zoned LI
- Total 2,366 SF including a partial unfinished 670 SF basement
Local Financial Insights For Apartment 5plus
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 | $45.7k | $19.32 |
| − Vacancy | −$2.9k | −$1.24 |
| EGI | $42.8k | $18.08 |
| − OpEx | −$19.3k | −$8.14 |
| NOI | $23.5k | $9.95 |
2,366 SF · lease $19.32/SF/yr · vacancy 6.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$336.2K
$294.2K – $392.2K
NOI $23,532 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$610.4K
$534.1K – $712.2K
NOI $42,730 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Single family property - Light industrial zoned double-lot ranch with oversized three-car garage and fenced yard near I-90.
Where is this single family property located?
The property is located at 627 N Madelia St Spokane, WA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 1968 ranch home with 1,690 SF main level featuring 3 bedrooms and 2 full baths; Light Industrial (LI) double lot; zoned LI; Total 2,366 SF including a partial unfinished 670 SF basement
