Medical Office Space with Dental
For Sale
Contact for pricing
707 W Francis Ave, Spokane, WA 99205
Second-floor medical office with private offices, three bathrooms, and a layout accommodating dental operations.
Property Size2,748 SF
Price / SF$218.34
Days on Market316
Property Features for 707 W Francis Ave
General Information
Standard status
Active
Size
2,748 SF
Total Parking Spaces
33
Property subtype
OFFICE
Zoning
O-35
Additional Details
Floor
2
Listing Agency:
Cantu Commercial Properties
(509) 499-6498
Listed By:
Dan Cantu · License #D12264
(509) 993-9939
Source:
Moodyscre
Added: Sep 29, 2025
Changed: Jul 31
Last Checked: Aug 9 at 12:15PM
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 Cantu Commercial Properties
Investment Insights
Based on property information with market context.
The former dental office occupies the entire second floor and offers 2,748 SF of medical office space. The layout includes 2 private offices, 3 bathrooms with a shower, and space for 7 dental chairs, providing an existing configuration for dental or related medical operations.
Located at 707 W Francis Ave in Spokane, the property is positioned at Francis and Wall with a reported traffic count of 22,600 cars per day. On-site parking includes 33 car parks. The property is zoned O-35.
Located at 707 W Francis Ave in Spokane, the property is positioned at Francis and Wall with a reported traffic count of 22,600 cars per day. On-site parking includes 33 car parks. The property is zoned O-35.
Key Highlights
- Entire 2nd floor with 2,748 SF of medical office space
- Former dental office layout with space for 7 dental chairs
- 2 private offices and 3 bathrooms with a shower
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
$39,349
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
6.56%
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%
$786,980
$787.0K
Cap Rate 7%
$562,129
$562.1K
Cap Rate 9%
$437,211
$437.2K
Market Conditions
NOI Build-Up for 2,748 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
$61.0K $22.20/SF
− Vacancy
−$8.5K −$3.11/SF
EGI
$52.5K $19.09/SF
− OpEx
−$13.1K −$4.77/SF
NOI
$39.3K $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%
$786,980
Cap Rate 7%
$562,129
Cap Rate 9%
$437,211
Alternative Uses
Best Use
Office B
$562.1K
$491.9K – $655.8K
NOI $39,349 @ 7.0% cap · market cap 6.56%
Second Best
Healthcare Medical
$507.1K
$443.7K – $591.6K
NOI $35,495 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$709.0K
$620.4K – $827.2K
NOI $49,629 @ 7.0% cap · market cap 8.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99205, WA
44,036
Population
18,791
Households
2.3
Avg Household Size
37
Median Age
26%
College-Educated
93%
High-School Grad
9.0 sq mi
ZIP Area
4,893
Density / Sq Mi
$72,547
Median Household Income
$42,148
Median Earnings
$1,250
Median Rent
$286,300
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?
Medical Office Space - Second-floor medical office with private offices, three bathrooms, and a layout accommodating dental operations.
Where is this medical office space located?
The property is located at 707 W Francis Ave Spokane, 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: Entire 2nd floor with 2,748 SF of medical office space; Former dental office layout with space for 7 dental chairs; 2 private offices and 3 bathrooms with a shower
