Office Building with On-Site
For Sale
Contact for pricing
6607 E Broadway Ave, Spokane Valley, WA 99212
Ground-floor suite includes private offices, ADA-compliant restrooms, and additional second-floor space.
Property Size4,308 SF
Lot Size0.34 Acres
Price / SF$139.28
Days on Market338
Property Features for 6607 E Broadway Ave
General Information
Standard status
Active
Size
4,308 SF
Total Parking Spaces
17
Lot size
0.34 Acres
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Building Details
Year Built
1962
Building Size
4,308 SF
Listing Agency:
Kiemle Hagood
(509) 862-5454
Listed By:
Jay Carson · License #84224
(509) 862-5454
Source:
Moodyscre
Added: Sep 29, 2025
Changed: Aug 30
Last Checked: Aug 31 at 6:20PM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This office-use property totals approximately 4,308 SF on approximately 0.34 acres and was built in 1962. The ground-floor Suite 1 contains approximately 1,258 SF with three private offices and two ADA-compliant restrooms. An additional second-floor area of approximately 690 SF is available. The offering includes 17 on-site parking stalls and parcels 35132.13088 and 35132.1307.
The property is positioned at the I-90 and Broadway interchange in Spokane Valley, Washington, providing access from a major regional route and Broadway Avenue. Its office zoning supports the established office-oriented use; the ground-floor space may also accommodate retail use, excluding cannabis sales.
The property is positioned at the I-90 and Broadway interchange in Spokane Valley, Washington, providing access from a major regional route and Broadway Avenue. Its office zoning supports the established office-oriented use; the ground-floor space may also accommodate retail use, excluding cannabis sales.
Key Highlights
- Approximately 4,308 SF building on approximately 0.34 acres
- Approximately 1,258 SF ground‑floor Suite 1 with three private offices
- Two ADA‑compliant restrooms in the ground‑floor suite
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
$46,139
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
7.69%
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%
$922,780
$922.8K
Cap Rate 7%
$659,129
$659.1K
Cap Rate 9%
$512,656
$512.7K
Market Conditions
NOI Build-Up for 4,308 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
$72.4K $16.80/SF
− Vacancy
−$10.9K −$2.52/SF
EGI
$61.5K $14.28/SF
− OpEx
−$15.4K −$3.57/SF
NOI
$46.1K $10.71/SF
Area
Spokane Valley, WA
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
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%
$922,780
Cap Rate 7%
$659,129
Cap Rate 9%
$512,656
Alternative Uses
Best Use
Office B
$659.1K
$576.7K – $769.0K
NOI $46,139 @ 7.0% cap · market cap 7.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$935.8K
$818.9K – $1.09M
NOI $65,509 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 99212, WA
21,672
Population
9,496
Households
2.3
Avg Household Size
41
Median Age
27%
College-Educated
93%
High-School Grad
12.3 sq mi
ZIP Area
1,762
Density / Sq Mi
$66,250
Median Household Income
$39,829
Median Earnings
$1,184
Median Rent
$314,300
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?
Office building - Ground-floor suite includes private offices, ADA-compliant restrooms, and additional second-floor space.
Where is this office building located?
The property is located at 6607 E Broadway Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Approximately 4,308 SF building on approximately 0.34 acres; Approximately 1,258 SF ground‑floor Suite 1 with three private offices; Two ADA‑compliant restrooms in the ground‑floor suite
