Heavy Industrial Distribution
For Sale
Contact for pricing
707 N Freya St, Spokane, WA 99202
Fenced heavy industrial site with three bays, multiple grade-level doors, and 3-phase power across three buildings.
Property Size6,416 SF
Lot Size1.36 Acres
Price / SF$151.96
Days on Market153
Property Features for 707 N Freya St
General Information
Standard status
Active
Size
6,416 SF
Lot size
1.36 Acres
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
East Central
Traffic Count
30,397 vehicles/day
Fenced Yard
Yes
Warehouse & Industrial
Drive-In Doors
8
Heavy Power
Yes
Listing Agency:
Coldwell Banker Tomlinson
(509) 921-7400
Listed By:
Barb Pielli · License #41414
(509) 714-5071
Source:
Moodyscre
Added: May 29
Changed: Oct 25
Last Checked: Oct 28 at 8:03AM
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 Coldwell Banker Tomlinson
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Investment Insights
Based on property information with market context.
Positioned just north of Sprague Avenue on Freya Street, the property offers visibility from a prominent corner lot and strong daily traffic counts of approximately 30,397 vehicles per day. Two income-producing Lamar billboard signs are located on the property.
The site includes approximately 6,416 SF of total building area across three separate buildings, with a covered breezeway connecting building #1 and building #2. Set on 1.364 acres across two parcels, the fully fenced yard has two roll-gate entrances for controlled access and security.
Functionality is supported by a layout with three bays, including two pass-through bays, along with eight grade-level overhead doors and 3-phase power. The property is described as heavy industrial zoned and is presented as suitable for a range of heavy industrial and commercial uses, including warehouse and distribution facilities, manufacturing and fabrication, equipment sales, storage, and repair services, as well as contractor-oriented storage and industrial service operations.
The site includes approximately 6,416 SF of total building area across three separate buildings, with a covered breezeway connecting building #1 and building #2. Set on 1.364 acres across two parcels, the fully fenced yard has two roll-gate entrances for controlled access and security.
Functionality is supported by a layout with three bays, including two pass-through bays, along with eight grade-level overhead doors and 3-phase power. The property is described as heavy industrial zoned and is presented as suitable for a range of heavy industrial and commercial uses, including warehouse and distribution facilities, manufacturing and fabrication, equipment sales, storage, and repair services, as well as contractor-oriented storage and industrial service operations.
Key Highlights
- Prominent corner lot on Freya St just north of Sprague Ave with approx. 30,397 vehicles/day traffic count
- Two income‑producing Lamar billboard signs on‑site
- Heavy industrial zoned property on 1.364 acres (59,434 SF) across two parcels (35153.0302 & 35155.0307)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,911
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$838,220
$838.2K
Cap Rate 7%
$598,729
$598.7K
Cap Rate 9%
$465,678
$465.7K
Market Conditions
NOI Build-Up for 6,416 SF
Gross rent
$54.7K $8.52/SF
− Vacancy
−$5.4K −$0.83/SF
EGI
$49.3K $7.69/SF
− OpEx
−$7.4K −$1.15/SF
NOI
$41.9K $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%
$838,220
Cap Rate 7%
$598,729
Cap Rate 9%
$465,678
Alternative Uses
Best Use
Warehouse
$598.7K
$523.9K – $698.5K
NOI $41,911 @ 7.0% cap · market cap 4.30%
Second Best
Industrial
$533.3K
$466.6K – $622.2K
NOI $37,329 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,873 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
8
Drive-in doors
30,397 VPD
Traffic count
Yes
Heavy power
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
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Market
Vacancy Rate% for Industrial in West region
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Warehouse - Fenced heavy industrial site with three bays, multiple grade-level doors, and 3-phase power across three buildings.
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 $975,000.
What are key features of this property?
This property features: Prominent corner lot on Freya St just north of Sprague Ave with approx. 30,397 vehicles/day traffic count; Two income‑producing Lamar billboard signs on‑site; Heavy industrial zoned property on 1.364 acres (59,434 SF) across two parcels (35153.0302 & 35155.0307)
