Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2975 E 29th Ave Spokane, WA 99223

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    High-visibility shopping center in Spokane's South Hill area.

    Type:Retail
    Added:
    May 16, 2024
    Days on Market:
    706
    Last Refresh:
    Mar 17 at 1:21 pm

    Property Features for 2975 E 29th Ave

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Spaces For Lease

    at 2975 E 29th Ave Contact us

    Suite 2927A $24 /Mo

    Size
    1,256 SF
    Type
    Retail
    High visibility shopping center located in the heart of Spokane’s desirable South...
    show more
    Contact us

    Suite 004 $16 /Mo

    Size
    4,290 SF
    Type
    Retail
    High visibility shopping center located in the heart of Spokane’s desirable South...
    show more
    Contact us

    We can help!

    Listing Contact
    Chad Carper

    Listing agent Chad Carper License #WA 4728

    Listing office Kiemle Hagood

    Listing date May 16, 2024

    Source Crexi

    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 Kiemle Hagood

    Overview

    Prime Retail Space in Spokane

    Located in the heart of Spokane’s South Hill area, this shopping center offers a prime retail location with high visibility. The property benefits from excellent exposure and steady traffic within a well-established commercial corridor. Tenants are advised to verify all operating expenses prior to leasing.
    Location Intelligence

    Current Use by Public Records

    Trader Joe's Grocery & Convenience Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Coinstar Kiosk - Bitcoin ATM — E, 2509 E 29th Ave Safeway, Spokane, WA 99203
    • Lincoln Heights Shopping Center — E 27th Ave, Spokane, WA 99223
    • Coinstar Kiosk - Bitcoin ATM — 2610 E Twentyninth Rosauers Supermarkets, Spokane, WA 99223

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.366782
    Latitude
    47.6289233

    Nearby Similar for Lease

    • Contact for pricing

      Retail/Warehouse Space Near Downtown Spokane

      3,750 SF retail/warehouse space near downtown Spokane.
      1303 N Washington Street, Suite B, Spokane, WA 99201
      View Details
    • Contact for pricing

      Functional Industrial Warehouse in Spokane

      Efficient industrial space with vehicle lifts and updated roof.
      5202 N Nevada Street, Spokane, WA 99207
      View Details
    • $6/mo

      High-Visibility Retail Space Available

      Prime Spokane retail space with strong traffic and brand visibility.
      1020 West Francis Ave, Spokane, WA 99205
      View Details
    • Contact for pricing

      I-90 Accessible Warehouse with Office

      Warehouse with office space and I-90 freeway access.
      2014 West 6th Court, Spokane, WA 99201
      View Details
    • Contact for pricing

      Riverside Avenue Retail/Office/Showroom Space

      4,200 SF space ideal for retail, office, or showroom.
      226 W Riverside Ave, Spokane, WA 99201
      View Details
    • Contact for pricing

      Adaptable Office Space in Spokane

      1,173 SF office space in central Spokane location.
      222 W Mission Avenue, Spokane, WA 99201
      View Details
    • Sponsored
      Contact for pricing

      Spokane Washington Trust

      601 1St Ave, Unit 1400, Spokane, WA 99201
      View Details
    • Contact for pricing

      Functional Industrial/Retail Space in Spokane

      Two-bay shop with secured yard in East Spokane.
      4228 E Wellesley Ave, Spokane, WA 99217
      View Details
    • $19/mo

      Updated Medical Building Near Hospital

      Newly updated medical building with move-in ready and expandable spaces.
      220 E Rowan Ave, Spokane, WA
      View Details
    • $18/mo

      Downtown Spokane Retail Space Available

      6,400 SF retail space in the heart of Spokane.
      225 W Riverside Ave, Spokane, WA 99201
      View Details
    • Contact for pricing

      South Hill Retail Space Available

      Retail spaces for lease in high-traffic South Hill neighborhood.
      802 E. 29th Ave., Spokane, WA 99203
      View Details
    • $16/mo

      Spokane Retail/Office Space Available

      Prime leasing opportunity in a dynamic Spokane commercial hub.
      915 E Hawthorne Rd Suite E, Spokane, WA 99218
      View Details

    FAQs

    What type of property is this?
    Shopping center - High-visibility shopping center in Spokane's South Hill area.
    Where is this shopping center located?
    The property is located at 2975 E 29th Ave Spokane, WA.
    What are key features of this property?
    This property features: High visibility location in Spokane's desirable South Hill area.; Prime retail location with excellent exposure.; Steady traffic in a well‑established commercial corridor.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Chad Carper
    Real Estate License ID: WA 4728
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!