Multi-Tenant Office Building with
8727 HWY 2, Spokane, WA 99224
For Sale
$2,400,000
Commercial Sale, Multi Level, Spokane, WA
Property Size10,214 SF
Lot Size1.49 Acres
Price / SF$234.97
Days on Market476
Property Features for 8727 HWY 2
General Information
Property type
Property subtype
Zoning
Interior features
Exterior features
Basement
Accessibility
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
interior reader board
monument sign
Building Details
Year built
Building materials
Roof type
Architectural style
Buildings
Listing Agency:
Coldwell Banker Schneidmiller Realty · Coldwell Banker Real Estate
(800) 829-2555
Listed By:
Rob Kannapien · License WA SP26107
(208) 704-3832
Added: Jul 23, 2025
Changed: Oct 27
Last Checked: Nov 10 at 7:06PM
MLS# 25-7661
Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-level office building contains 10,214 square feet on a 1.49-acre site. The 5,134-square-foot main level includes an open bullpen area, two work areas, six private offices, reception, two restrooms, a bank vault, drive-through viewing windows, and a pneumatic tube system. The 5,080-square-foot second floor provides another bullpen area, reception, ten private offices, a conference room with storage, breakroom, janitor closet, two restrooms, and two dedicated mechanical rooms. A separate rear entrance and elevator support circulation between levels.
Constructed in 2001, the property is positioned on Highway 2 in Spokane, north of Spokane International Airport and approximately 3 miles from Interstate 90. The site reports traffic counts of 28,000 cars per day and includes parking, landscaping, a monument sign, and an interior reader board. LIGHT INDUST zoning, central air, forced-air heating, public water, public sewer, and accessible ramp and elevator features are also in place.
Constructed in 2001, the property is positioned on Highway 2 in Spokane, north of Spokane International Airport and approximately 3 miles from Interstate 90. The site reports traffic counts of 28,000 cars per day and includes parking, landscaping, a monument sign, and an interior reader board. LIGHT INDUST zoning, central air, forced-air heating, public water, public sewer, and accessible ramp and elevator features are also in place.
Key Highlights
- 10,214‑square‑foot office building on 1.49 acres
- 5,134‑square‑foot main level and 5,080‑square‑foot second floor
- Six private offices downstairs and ten private offices upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$146,254
Cap Rate
6.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,925,080
$2.9M
Cap Rate 7%
$2,089,343
$2.1M
Cap Rate 9%
$1,625,044
$1.6M
Market Conditions
NOI Build-Up for 10,214 SF
Gross rent
$226.8K $22.20/SF
− Vacancy
−$31.7K −$3.11/SF
EGI
$195.0K $19.09/SF
− OpEx
−$48.8K −$4.77/SF
NOI
$146.3K $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 Rate 5%
$2,925,080
Cap Rate 7%
$2,089,343
Cap Rate 9%
$1,625,044
Alternative Uses
Best Use
Office B
$2.09M
$1.83M – $2.44M
NOI $146,254 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.07M
NOI $184,465 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 99224, WA
24,085
Population
10,559
Households
2.3
Avg Household Size
39
Median Age
41%
College-Educated
96%
High-School Grad
118.8 sq mi
ZIP Area
203
Density / Sq Mi
$76,785
Median Household Income
$50,678
Median Earnings
$1,290
Median Rent
$439,700
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Spokane, WA
Properties on Market for Office buildings in Spokane
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Two-level professional office property with private offices, conference space, reception areas, parking, and accessible building features.
Where is this office building located?
The property is located at 8727 HWY 2 Spokane, WA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 10,214‑square‑foot office building on 1.49 acres; 5,134‑square‑foot main level and 5,080‑square‑foot second floor; Six private offices downstairs and ten private offices upstairs
