Heavy Industrial Distribution
707 N Freya St Spokane, WA 99202
For Sale
Contact for pricing
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$155.70
Days on Market63
Property Features for 707 N Freya St
General Information
Standard status
Active
Size
6,416 SF
Lot size
1.36 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Coldwell Banker Tomlinson
(509) 714-5071
Listed By:
Barb Pielli · License #41414
(509) 714-5071
Source:
Moodyscre
Added: May 29
Changed: Jul 28
Last Checked: Jul 29 at 11:59AM
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
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 For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.7k | $8.52 |
| − Vacancy | −$5.4k | −$0.83 |
| EGI | $49.3k | $7.69 |
| − OpEx | −$7.4k | −$1.15 |
| NOI | $41.9k | $6.53 |
6,416 SF · lease $8.52/SF/yr · vacancy 9.80% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$598.7K
$523.9K – $698.5K
NOI $41,911 @ 7.0% cap · market cap 4.20%
Second Best
Industrial
$533.3K
$466.6K – $622.2K
NOI $37,329 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $115,873 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market 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
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 $999,000.
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)
