Renovated Flex Space with
For Sale
$250,000
6724 N Pittsburg St, Spokane, WA 99217
Main-level commercial area includes a kitchenette, ADA bathroom, and vehicle-access door.
Property Size1,440 SF
Price / SF$173.61
Days on Market67
Property Features for 6724 N Pittsburg St
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Industrial
Warehouse & Industrial
Mezzanine
480 SF
Drive-In Doors
1
Additional Details
Floor
Main Floor
Office Units
1
Amenities
Kitchenette
ADA bathroom
Building Details
Building Size
1,440 SF
Year Built
2005
Buildings
1
Listing Agency:
(509) 993-4440
Listed By:
Nate Gant · License #WA #88430
Source:
Svncornerstone
Added: Jun 25
Changed: Aug 30
Last Checked: Aug 30 at 6:03AM
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 Nate Gant
Investment Insights
Based on property information with market context.
This renovated flex property offers a 960 SF main floor with an additional 480 SF mezzanine. The 20 Ft x48 Ft footprint includes a 14x14 ft door, supporting use as a showroom or indoor vehicle parking area. A kitchenette and ADA bathroom are also provided, and the building was constructed in 2005.
The adjacent property at 6722 N Pittsburg is available separately, creating the possibility of a contiguous 2,880 SF configuration. The property is located at 6724 N Pittsburg St in Spokane, Washington.
The adjacent property at 6722 N Pittsburg is available separately, creating the possibility of a contiguous 2,880 SF configuration. The property is located at 6724 N Pittsburg St in Spokane, Washington.
Key Highlights
- 960 SF main floor with 480 SF mezzanine
- 14x14 ft door supports showroom or indoor vehicle parking use
- 20 Ft x48 Ft footprint
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
$20,619
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
8.25%
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%
$412,380
$412.4K
Cap Rate 7%
$294,557
$294.6K
Cap Rate 9%
$229,100
$229.1K
Market Conditions
NOI Build-Up for 1,440 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
$32.0K $22.20/SF
− Vacancy
−$4.5K −$3.11/SF
EGI
$27.5K $19.09/SF
− OpEx
−$6.9K −$4.77/SF
NOI
$20.6K $14.32/SF
Area
Spokane, WA
Vacancy
14.00%
Lease Rate
$22.20 /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%
$412,380
Cap Rate 7%
$294,557
Cap Rate 9%
$229,100
Alternative Uses
Best Use
Office B
$294.6K
$257.7K – $343.7K
NOI $20,619 @ 7.0% cap · market cap 8.25%
Second Best
Retail
$213.5K
$186.8K – $249.0K
NOI $14,942 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$371.5K
$325.1K – $433.4K
NOI $26,006 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
1
Office units
Location Intelligence
Trade Area within ½ mile
343
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99217, WA
19,298
Population
8,166
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
93%
High-School Grad
51.4 sq mi
ZIP Area
375
Density / Sq Mi
$71,807
Median Household Income
$43,267
Median Earnings
$1,267
Median Rent
$329,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Main-level commercial area includes a kitchenette, ADA bathroom, and vehicle-access door.
Where is this flex space located?
The property is located at 6724 N Pittsburg St Spokane, WA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 960 SF main floor with 480 SF mezzanine; 14x14 ft door supports showroom or indoor vehicle parking use; 20 Ft x48 Ft footprint
