Industrial Flex
For Sale
Contact for pricing
Pending
630 W Shannon Ave, Spokane, WA 99205
Flex warehouse with 3 overhead doors and office area with new LVP flooring and paint.
Property Size5,055 SF
Days on Market36
Property Features for 630 W Shannon Ave
General Information
Standard status
Pending
Size
5,055 SF
Property subtype
INDUSTRIAL
Lease Type
NNN
Listing Agency:
LT Real Estate
(509) 315-8714
Listed By:
Ryan Towner · License #24027253
(509) 315-8714
Source:
Moodyscre
Added: Jul 2
Changed: Jul 25
Last Checked: Jul 25 at 7:20PM
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.
This industrial flex building includes approximately 3,750 square feet of warehouse space and about 1,305 square feet of office space. The office area has new LVP flooring and fresh paint, supporting a clean, move-in-ready appearance.
The warehouse is accessed through three overhead doors sized 10x10, 11x11, and 11x12, providing loading flexibility for a variety of needs.
Overall, the property combines functional warehousing with dedicated office space in one arrangement, making it suitable for businesses that require both production or storage space and on-site administration.
The warehouse is accessed through three overhead doors sized 10x10, 11x11, and 11x12, providing loading flexibility for a variety of needs.
Overall, the property combines functional warehousing with dedicated office space in one arrangement, making it suitable for businesses that require both production or storage space and on-site administration.
Key Highlights
- $4,333/month NNN lease amount
- ~3,750 SF warehouse space
- ~1,305 SF office space
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
Office B
$1.03M
$904.8K – $1.21M
NOI $72,383 @ 7.0% cap · market cap 11.14%
Second Best
Warehouse
$471.7K
$412.8K – $550.4K
NOI $33,021 @ 7.0% cap · market cap 5.08%
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
Current Use
Location Intelligence
Trade Area within ½ mile
946
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with 3 overhead doors and office area with new LVP flooring and paint.
Where is this flex space located?
The property is located at 630 W Shannon Ave 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: $4,333/month NNN lease amount; ~3,750 SF warehouse space; ~1,305 SF office space
