Listing Agency: Kiemle Hagood Show Phone

Listed By: Tracy Lucas Show Phone

Source: Moodyscre

Added: Mar 12, 2025 Changed: Oct 25 Last Checked: Oct 24 at 8:13PM

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Investment Insights

Based on property information with market context.

Located on Sharp Avenue between Fancher and Thierman, this industrial warehouse is situated just north of the Broadway I-90 Interchange. The property features grade loading and three-phase power. The building has a size of 10080 square feet.

Key Highlights

• Great location on Sharp.
• Close proximity to the Broadway I‑90 Interchange.
• Grade loading available.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$65,845

Cap Rate

4.70%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,316,900 $1.3M

Cap Rate 7%

$940,643 $940.6K

Cap Rate 9%

$731,611 $731.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,080 SF

Gross rent

$85.9K $8.52/SF

− Vacancy

−$8.4K −$0.83/SF

EGI

$77.5K $7.69/SF

− OpEx

−$11.6K −$1.15/SF

NOI

$65.8K $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 Rate 5%

$1,316,900

Cap Rate 7%

$940,643

Cap Rate 9%

$731,611

Alternative Uses

Best Use

Warehouse

$940.6K

$823.1K – $1.10M (±1% cap)

NOI $65,845 @ 7.0% cap · market cap 4.70%

Second Best

Industrial

$837.8K

$733.1K – $977.5K (±1% cap)

NOI $58,647 @ 7.0% cap · market cap 4.19%

Theoretical Best

Office A

$2.60M

$2.28M – $3.03M (±1% cap)

NOI $182,045 @ 7.0% cap · market cap 13.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Warehouses

Suggested Use

Top Pick Real Estate Agency Law Firm Pharmacy Spa & Massage Center Nail Salon Parking Lot & Garage

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

Location Intelligence

Trade Area within ½ mile

454

Businesses Nearby

Explore this area Business Placement

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Industrial property - Industrial warehouse with grade loading and three-phase power for sale.

Where is this industrial property located?

The property is located at 6409 E Sharp Ave Spokane, WA.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Great location on Sharp.; Close proximity to the Broadway I‑90 Interchange.; Grade loading available.