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    518 Riverside Ave Spokane, WA 99201

    Sponsored
    For Sale
    $2,200,000

    Spokane, WA Creative Office Building - High ROI

    Property size:
    14,366 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional three-story, 14,366 square foot creative office building at 518 W Riverside Ave in Spokane, WA, presents a compelling investment opportunity. Boasting a stabilized investment profile with a 7.64% cap rate and a pro-forma cap rate of 8.18%, this Class B property offers significant upside potential. Currently 80% occupied, the building generates a net operating income (NOI) of $168,000, projected to increase to $180,000. Built in 1890 and extensively renovated in 2019, the property features a ground floor retail space occupied by a successful Indaba coffee shop, a mezzanine-level Ignite loft, and various smaller shared workspaces. Convenient downtown Spokane location offers easy access to amenities. On-site amenities include a shower and proximity to executive parking. The 4,534 square foot lot provides ample space. The asking price is $2,200,000, translating to $153.14 per square foot. Recent building improvements include an elevator overhaul. The flexible lease roll provides further investment flexibility. APN: 35184.2408.

    Property Features for 518 Riverside Ave

    General Information

    Property type
    Office space
    Square Feet
    14,366 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1890/2019
    Stories
    3

    HighLights

    • Flexible lease terms available.
    • High‑performing coffee shop tenant with strong sales history.
    • Building recently renovated, including a 2019 elevator modernization.
    Property Profile Location Intelligence

    Current Use by Public Records

    Indaba Coffee Coffee Shop Spokane Angel Alliance Investment Company PrintWithMe Print Kiosk ... Print Shop Bend & Sway Marketing Agency Gantry Commercial Real Estate Agency

    Suggested Use

    Restaurant Dental Office Hair Salon Realty agency Building Supply Spa & Massage Nail Salon Auto Repair Shop Clothing Store Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4205128
    Latitude
    47.6582737

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    FAQs

    What type of property is this?
    Office space - Spokane, WA Creative Office Building - High ROI
    Where is this office space located?
    The property is located at 518 Riverside Ave Spokane, WA.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: Flexible lease terms available.; High-performing coffee shop tenant with strong sales history.; Building recently renovated, including a 2019 elevator modernization.
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    Realmo Value Estimation

    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.

    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.

    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
    518 Riverside Ave Spokane, WA 99201
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