7630 N Division St Spokane, WA 99208
Durable income with established national tenants and attractive assumable financing.
Property size:
51,086 SFLot size:
70,000.00 AcresProperty Features for 7630 N Division St
General Information
- Standard status
- Active
- Zoning
- Commercial
- Size
- 51,086 SF
- Lot size
- 70,000.00 Acres
Building Details
- Year built
- 1978
Source:
Crexi
Listing Agency: Northmarq - Seattle Listing Agent: Sean Tufts
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Anchored Retail Investment Opportunity
This commercial real estate offering features a retail property anchored by Michaels and US Foods CHEF’STORE, both of which have been tenants for over 25 years. Michaels recently exercised a 5-year extension, with both leases running through 2030. US Foods CHEF’STORE ranks in the top 10 nationwide across all CHEF’STORE locations by annual visits (334K), and Michaels welcomes 261K annual visits. The property benefits from assumable financing at a 3.74% interest rate with a 25-year amortization and maturity of August 1, 2036. The property is priced at $193/SF. The property is situated within a larger retail center anchored by Grocery Outlet & Hobby Lobby, with the overall center recording 2.2M annual visits and national co-tenancy including Aaron’s and Dollar Tree. Positioned with direct frontage on US-2, the property captures daily exposure to 42,000+ vehicles. The surrounding customer base continues to expand, with the population within five miles growing more than 15% since 2010 and additional growth projected through 2030. Several residential communities are underway to meet demand, including Mead Works, a ~1,400-home master-planned development located just minutes north of the property. The property size is 51086 square feet.
Location Intelligence
Current Use by Public Records
Michaels
(Bike/Boat/Book/etc) Store
Michaels Custom Framing
(Bike/Boat/Book/etc) Store
UPS Access Point ...
Courier Service
US Foods CHEF'STORE
Grocery & Convenience Store
Similar Places Nearby
Nevada Towers, Coinstar Kiosk | Bitcoin ATM
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.409177
- Latitude
- 47.72728
Nearby Similar for Sale
FAQs
What type of property is this?
Shopping center - Durable income with established national tenants and attractive assumable financing.
Where is this shopping center located?
The property is located at 7630 N Division St Spokane, WA.
What are key features of this property?
This property features: - Attractive assumable financing at a 3.74% interest rate, providing a going-in 7.83% cash-on-cash return.; - Priced at $193/SF, a meaningful discount to replacement cost.; - Anchored by established national tenants, Michaels and US Foods CHEF’STORE, both occupying their spaces for more than 25 years.
