Multi-Tenant Professional Office
For Sale
Contact for pricing
8727 W Hwy 2, Spokane, 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 Market38
Property Features for 8727 W Hwy 2
General Information
Standard status
Active
Size
10,214 SF
Lot size
1.49 Acres
Property subtype
OFFICE
Additional Details
Traffic Count
28,000 vehicles/day
Amenities
elevator
interior reader board
monument sign
Building Details
Stories
2
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial
(208) 704-3832
Listed By:
Rob Kannapien · License #SP26107
(208) 704-3832
Source:
Moodyscre
Added: Jun 26
Changed: Jul 28
Last Checked: Aug 1 at 7:12AM
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
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 For Office B
Simulate Cap Rate and NOI
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.
| 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 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.
Property Analytics
Current Use
Lease Details
28,000 VPD
Traffic count
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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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 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 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
