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    Heavy Industrial Multi-Building Site Title is generated by Realmo AI

    707 N FREYA ST, Spokane, WA 99202

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    Corner-lot industrial yard with strong daily traffic, fenced access, and multiple grade-level doors for heavy-use operations.

    Type:Industrial
    Property size:
    6,416 SF
    Lot size:
    1.36 Acres
    Price / SF:
    $159/SF
    Added:
    May 29, 2026
    Days on Market:
    11
    Last Refresh:
    Jun 6 at 5:24 am

    Property Features for 707 N FREYA ST

    General Information

    Standard status
    Active
    Size
    6,416 SF
    Lot size
    1.36 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Barb Pielli

    Listing agent Barb Pielli License #WA- B41414

    Listing office Coldwell Banker Commercial

    Listing date May 29, 2026

    Source Crexi

    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 Coldwell Banker Commercial

    HighLights

    • Prominent corner‑lot industrial site on Freya St, just north of Sprague Ave, with approx. 30,397 vehicles/day daily traffic counts
    • Two income‑producing Lamar billboard signs on‑site
    • Industrial property includes approx. 6,416 SF total building area across three buildings with a covered breezeway between building #1 and #2
    • Heavy industrial setup: three bays (two pass‑through), eight grade‑level overhead doors, and 3‑phase power
    • 1.364 acres (59,434 SF) on two parcels (35153.0302 & 35155.0307), fully fenced with two roll‑gate entrances
    • Zoned for heavy industrial uses; site suitable for warehouse/distribution, manufacturing/fabrication, equipment sales, storage/repair, and contractor yards

    Overview

    The property consists of approximately 6,416 SF of total building area across three separate buildings, connected by a covered breezeway between building #1 and building #2. The site offers a configuration with three bays, including two pass-through bays, and eight grade-level overhead doors. 3-phase power is available, and the fully fenced grounds include two roll-gate entrances designed to support secure, heavy industrial activity.

    Located on a prominent corner lot just north of Sprague Avenue on Freya Street, the site benefits from outstanding visibility with strong daily traffic counts of approximately 30,397 vehicles per day. Exposure is further enhanced by two income-producing Lamar billboard signs located on the property. The property spans approximately 1.364 acres across two parcels (35153.0302 & 35155.0307).

    Designed for heavy industrial tenants and operators, the space is suitable for warehouse and distribution, manufacturing and fabrication, equipment sales, storage and repair services, and industrial service businesses. The site can also accommodate contractor yards, construction material storage, wholesale operations, and outdoor storage. Additional described potential uses include heavy equipment and vehicle repair, railroad-related operations, and utility or infrastructure facilities. Seller financing may be available for qualified buyers; contact the listing broker for terms and details.
    Location Intelligence

    Current Use by Public Records

    Moran Fence General Contractor

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Building Supply Hair Salon Big Box & Wholesale Store Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Green Street Maxi Storage — 3129 E Sharp Ave, Spokane, WA 99202
    • Nearby Storage Units - Spokane, WA — 3401 e sprague ave, spokane, wa 99202
    • Boone Mini Storage — 3004 E Boone Ave, Spokane, WA 99202
    • U-Pack — 400 N Sycamore St, Spokane, WA 99202

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.3579507
    Latitude
    47.6637458

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    FAQs

    What type of property is this?
    Warehouse - Corner-lot industrial yard with strong daily traffic, fenced access, and multiple grade-level doors for heavy-use operations.
    Where is this warehouse located?
    The property is located at 707 N FREYA ST Spokane, WA.
    What is the asking price?
    The asking price for this property is $1,025,000.
    What are key features of this property?
    This property features: Prominent corner‑lot industrial site on Freya St, just north of Sprague Ave, with approx. 30,397 vehicles/day daily traffic counts; Two income‑producing Lamar billboard signs on‑site; Industrial property includes approx. 6,416 SF total building area across three buildings with a covered breezeway between building #1 and #2
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Barb Pielli
    Real Estate License ID: WA- B41414
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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