Flex Warehouse with Office
For Sale
$650,000
Pending
630 Shannon, Spokane, WA 99205
For-sale flex property combining warehouse space with office units at 630 W Shannon Ave.
Property Size5,055 SF
Days on Market52
Property Features for 630 Shannon
General Information
Standard status
Pending
Size
5,055 SF
Property subtype
Commercial
Amenities
Garage Spaces: 0
Building Details
Year Built
1914
Listing Agency:
LT Real Estate
(509) 315-8720
Listed By:
Ryan Towner · License #24027253
Source:
Clearwaterproperties
Added: Jul 3
Changed: Aug 23
Last Checked: Aug 23 at 6:51AM
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 LT Real Estate
Investment Insights
Based on property information with market context.
Offered for sale, this flex-style commercial property includes warehouse and industrial space along with office units. The mixed layout is well-suited for tenants looking to combine work space and administrative space in one facility.
Located at 630 W Shannon Ave in Spokane, WA 99205, the property is positioned for businesses that need a single address for day-to-day operations. Additional specifics such as unit mix details, frontage, and site features are not provided in the available information. For complete leasing or sales context, review the full property materials via the provided listing flyer or request a showing.
Located at 630 W Shannon Ave in Spokane, WA 99205, the property is positioned for businesses that need a single address for day-to-day operations. Additional specifics such as unit mix details, frontage, and site features are not provided in the available information. For complete leasing or sales context, review the full property materials via the provided listing flyer or request a showing.
Key Highlights
- Flex property combining warehouse space with office units at 630 W Shannon Ave
- Built in 1914
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
$33,021
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
5.08%
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%
$660,420
$660.4K
Cap Rate 7%
$471,729
$471.7K
Cap Rate 9%
$366,900
$366.9K
Market Conditions
NOI Build-Up for 5,055 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
$43.1K $8.52/SF
− Vacancy
−$4.2K −$0.83/SF
EGI
$38.8K $7.69/SF
− OpEx
−$5.8K −$1.15/SF
NOI
$33.0K $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 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%
$660,420
Cap Rate 7%
$471,729
Cap Rate 9%
$366,900
Alternative Uses
Best Use
Warehouse
$471.7K
$412.8K – $550.4K
NOI $33,021 @ 7.0% cap · market cap 5.08%
Second Best
Industrial
$420.2K
$367.6K – $490.2K
NOI $29,411 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,293 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,348
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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- Chef Emily Green — W Maxwell Ave, Spokane, WA 99201
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Frequently Asked Questions
What type of property is this?
Flex space - For-sale flex property combining warehouse space with office units at 630 W Shannon Ave.
Where is this flex space located?
The property is located at 630 Shannon Spokane, WA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Flex property combining warehouse space with office units at 630 W Shannon Ave; Built in 1914
