Spokane Office Building on
8727 W Hwy 2, Spokane, WA 99224
Call to check price and availability
Multi-tenant office building with high visibility and ample parking.
Type:OFFICE
Property size:
10,214 SFLot size:
1.49 AcresPrice / SF:
$244/SF- Added:
- Jul 23, 2025
- Days on Market:
- 304
- Last Refresh:
- Apr 5 at 8:18 pm
Property Features for 8727 W Hwy 2
General Information
- Standard status
- Active
- Size
- 10,214 SF
- Lot size
- 1.49 Acres
- Property subtype
- OFFICE
Listing agent Rob Kannapien License #SP26107 (208) 704-3832
Listing office Coldwell Banker Commercial (208) 704-3832
Listing date Jul 23, 2025
Source Moodyscre
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
HighLights
- High‑visibility location on Highway 2 with 28,000 cars per day traffic count.
- Large 10,214 sqft multi‑tenant professional office building on 1.49 acres.
- Main level originally built for a bank, featuring a bank vault, drive‑through windows, and pneumatic tube system.
- Two floors with multiple private offices, large bull‑pen areas, reception areas, and conference room.
- Building amenities include an elevator, interior reader board, and monument sign.
- Good parking and nicely landscaped grounds.
Overview
This multi-tenant, professional office building offers 10,214 square feet of space on a 1.49-acre lot. Situated in Spokane on Highway 2, north of the Spokane International Airport, the property benefits from high visibility and traffic counts of 28,000 cars per day. The main level, comprising 5,134 square feet, was originally designed for Bank of Whitman and includes a large open bull-pen area, two work areas, six private offices, a built-in reception area, two restrooms, and a bank vault. Additional features include glass viewing windows to the drive-through and a working pneumatic tube system. The second floor, totaling 5,080 square feet, features a large bull-pen area, a built-in reception area, ten private offices, a large conference room with additional storage, a janitor closet, two dedicated mechanical rooms, a breakroom, and two restrooms. This suite also has a separate back entrance/exit. The building provides good parking and is nicely landscaped. Building amenities include an elevator, an interior reader board, and a monument sign. The property is located approximately 3 miles from Interstate 90.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.63M
NOI $146,254 @ 9.00% cap · cautious / downside scenario
Moderate
$2.09M
NOI $146,254 @ 7.00% cap · market / base-case scenario
Aggressive
$2.93M
NOI $146,254 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $226.8k | $22.20 |
| − Vacancy | −$31.7k | −$3.11 |
| EGI | $195.0k | $19.09 |
| − OpEx | −$48.8k | −$4.77 |
| NOI | $146.3k | $14.32 |
10,214 SF · lease $22.20/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$2.09M
$1.83M – $2.44M
NOI $146,254 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.64M
$2.31M – $3.07M
NOI $184,465 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.533
- Latitude
- 47.6426
Nearby Similar for Sale
FAQs
What type of property is this?
Office building - Multi-tenant office building with high visibility and ample parking.
Where is this office building located?
The property is located at 8727 W Hwy 2 Spokane, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: High‑visibility location on Highway 2 with 28,000 cars per day traffic count.; Large 10,214 sqft multi‑tenant professional office building on 1.49 acres.; Main level originally built for a bank, featuring a **bank vault, drive‑through windows, and pneumatic tube system**.
