Fenced Yard Industrial
For Sale
Contact for pricing
728 N Cook St, Spokane, WA 99202
6,300 SF light industrial building with a fully fenced yard and overhead doors for efficient loading and circulation.
Property Size6,300 SF
Lot Size0.49 Acres
Price / SF$134.92
Days on Market162
Property Features for 728 N Cook St
General Information
Standard status
Active
Size
6,300 SF
Class
C
Lot size
0.49 Acres
Property subtype
Industrial, Mixed Use, Office
Zoning
Light Industrial
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Building Details
Year Built
1966
Buildings
1
Units
1
Listing Agency:
Kiemle Hagood
Listed By:
CRAIG SOEHREN · License #22137
(509) 838-6541
Source:
Crexi
Added: Apr 8
Changed: Sep 10
Last Checked: Sep 15 at 7:15AM
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 Kiemle Hagood
Investment Insights
Based on property information with market context.
This 6,300 SF industrial building sits on a 0.49-acre lot and is zoned light industrial, making it well suited for a range of manufacturing, warehousing, or service operations. Built in 1966, the property offers functional space designed for day-to-day business use.
The site includes a fully fenced yard area and overhead doors facing Cook Street as well as the rear yard, supporting straightforward loading and circulation. The property also has close access to Trent Avenue and is a short drive to I-90, providing convenient transportation connectivity throughout the Spokane area and beyond.
The site includes a fully fenced yard area and overhead doors facing Cook Street as well as the rear yard, supporting straightforward loading and circulation. The property also has close access to Trent Avenue and is a short drive to I-90, providing convenient transportation connectivity throughout the Spokane area and beyond.
Key Highlights
- 6,300 SF light industrial building on a 0.49‑acre lot
- Zoned light industrial, offering flexibility for a variety of business uses
- Originally built in 1966, with functional space for manufacturing, warehousing, or service operations
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
$41,153
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
4.84%
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%
$823,060
$823.1K
Cap Rate 7%
$587,900
$587.9K
Cap Rate 9%
$457,256
$457.3K
Market Conditions
NOI Build-Up for 6,300 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
$53.7K $8.52/SF
− Vacancy
−$5.3K −$0.83/SF
EGI
$48.4K $7.69/SF
− OpEx
−$7.3K −$1.15/SF
NOI
$41.2K $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 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%
$823,060
Cap Rate 7%
$587,900
Cap Rate 9%
$457,256
Alternative Uses
Best Use
Warehouse
$587.9K
$514.4K – $685.9K
NOI $41,153 @ 7.0% cap · market cap 4.84%
Second Best
Industrial
$523.6K
$458.2K – $610.9K
NOI $36,655 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,778 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Under-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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - 6,300 SF light industrial building with a fully fenced yard and overhead doors for efficient loading and circulation.
Where is this flex space located?
The property is located at 728 N Cook St Spokane, WA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 6,300 SF light industrial building on a 0.49‑acre lot; Zoned light industrial, offering flexibility for a variety of business uses; Originally built in 1966, with functional space for manufacturing, warehousing, or service operations
