Multi-Tenant Professional Office
For Sale
Contact for pricing
8727 W Highway 2, Airway Heights, WA 99224
Multi-tenant office building with a vacant main level and an occupied second floor featuring extensive office and bullpen space.
Property Size10,214 SF
Lot Size1.49 Acres
Price / SF$234.97
Days on Market456
Property Features for 8727 W Highway 2
General Information
Standard status
Active
Size
10,214 SF
Class
B
Lot size
1.49 Acres
Property subtype
Mixed Use, Office, Retail, Special Purpose
Zoning
Commercial
Additional Details
Traffic Count
28,000 vehicles/day
Amenities
elevator
interior reader board
monument sign
Building Details
Year Built
2001
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Schneidmiller Realty Coeur d'Alene
Listed By:
Rob Kannapien · License #74670
(208) 704-3832
Source:
Crexi
Added: Jul 23, 2025
Changed: Oct 6
Last Checked: Oct 20 at 6:37PM
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 Commercial Schneidmiller Realty Coeur d'Alene
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multi-tenant, professional office building offers approximately 10,214 square feet of space on 1.49 acres and includes an elevator. The main level is currently vacant and available for a partial owner/user, with a large open bull-pen area, two work areas, six private offices, a built reception area, two restrooms, and a bank vault. The space also features glass viewing windows to a drive-through area and a working pneumatic tube system.
The second-floor suite is currently occupied by a long-term tenant with more than five years remaining on the lease. It includes a large bull-pen area, built reception area, ten private offices, a large conference room with additional storage, breakroom, two restrooms, a janitor closet, and two dedicated mechanical rooms. The suite also has a separate back entrance/exit.
The building has good parking and a monument sign, along with an interior reader board. The property is located on Highway 2 north of the Spokane International Airport, with traffic counts reported at 28,000 cars per day and convenient access approximately 3 miles from Interstate 90.
The second-floor suite is currently occupied by a long-term tenant with more than five years remaining on the lease. It includes a large bull-pen area, built reception area, ten private offices, a large conference room with additional storage, breakroom, two restrooms, a janitor closet, and two dedicated mechanical rooms. The suite also has a separate back entrance/exit.
The building has good parking and a monument sign, along with an interior reader board. The property is located on Highway 2 north of the Spokane International Airport, with traffic counts reported at 28,000 cars per day and convenient access approximately 3 miles from Interstate 90.
Key Highlights
- 10,214 SF multi‑tenant professional office building on 1.49 acres in Spokane on Highway 2, north of Spokane International Airport
- Main level: 5,134 SF now vacant for partial owner/user with large open bull‑pen area, 6 private offices, reception, 2 restrooms, and bank vault
- Drive‑through features with glass viewing windows and a working pneumatic tube system; includes built reception area and 2 work areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,556
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,411,120
$2.4M
Cap Rate 7%
$1,722,229
$1.7M
Cap Rate 9%
$1,339,511
$1.3M
Market Conditions
NOI Build-Up for 10,214 SF
Gross rent
$204.7K $20.04/SF
− Vacancy
−$43.9K −$4.30/SF
EGI
$160.7K $15.74/SF
− OpEx
−$40.2K −$3.93/SF
NOI
$120.6K $11.80/SF
Area
Spokane County, WA
Vacancy
21.47%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,411,120
Cap Rate 7%
$1,722,229
Cap Rate 9%
$1,339,511
Alternative Uses
Best Use
Office B
$1.72M
$1.51M – $2.01M
NOI $120,556 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.75M
NOI $165,212 @ 7.0% cap · market cap 6.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
28,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
7
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
Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Multi-tenant office building with a vacant main level and an occupied second floor featuring extensive office and bullpen space.
Where is this office building located?
The property is located at 8727 W Highway 2 Airway Heights, 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 SF multi‑tenant professional office building on 1.49 acres in Spokane on Highway 2, north of Spokane International Airport; Main level: 5,134 SF now vacant for partial owner/user with large open bull‑pen area, 6 private offices, reception, 2 restrooms, and bank vault; Drive‑through features with glass viewing windows and a working pneumatic tube system; includes built reception area and 2 work areas
