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

    11109 US-2 Airway Heights, WA 99001

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

    1.45 acres of graded land available for lease.

    Type:Land
    Lot size:
    1.45 Acres
    Added:
    Sep 9, 2022
    Days on Market:
    1316
    Last Refresh:
    Mar 17 at 1:18 pm

    Property Features for 11109 US-2

    General Information

    Standard status
    Active
    Lot size
    1.45 Acres
    Property subtype
    Land

    Spaces For Lease

    at 11109 US-2 Contact us

    We can help!

    Listing Contact
    Jon Jeffreys

    Listing agent Jon Jeffreys License #WA JEFFRJJ153P

    Listing office NAI Black

    Listing date Sep 9, 2022

    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 NAI Black

    Overview

    Prime Land for Lease

    This 1.45-acre commercial land parcel is available for lease. The site has been graded and features utilities stubbed to the site. Located in Airway Heights, the property benefits from a high traffic count of approximately 27,000 average daily traffic (ADT) on West Sunset Highway. The zoning is C-2, offering a range of commercial possibilities.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Airway Heights
    County
    Spokane
    State
    Washington
    Longitude
    -117.594
    Latitude
    47.6581

    Nearby Similar for Lease

    • $0.05/mo

      Secured Land Near Highway 2

      Graveled, fenced land near Hwy 2, suitable for industrial use.
      12032 W 21st Ave, Airway Heights, WA 99001
      View Details
    • Contact for pricing

      Hayford Business Park: New Construction

      New industrial, flex, and office spaces available for lease.
      2001 S Hayford Rd, Airway Heights, WA 99224
      View Details
    • $0.65/mo

      Airway Heights Warehouse Space Available

      12,000 SF warehouse space for lease in Airway Heights.
      1100 S Garfield, Airway Heights, WA
      View Details
    • Contact for pricing

      Prime Graded Land Available

      1.45 acres of graded land with high traffic volume.
      11109 W SR 2, Airway Heights, WA 99001
      View Details
    • Contact for pricing

      Airway Heights Flex Space Available

      Flex space with fenced yard and highway frontage for lease.
      13216 W Sunset Hwy, Airway Heights, WA 99001
      View Details
    • Contact for pricing

      Commercial Land for Ground Lease

      Land available for ground lease next to busy Panda Express.
      0 Hwy 2 & Garfield Rd, Airway Heights, WA
      View Details
    • $0.05/mo

      Airway Heights Fenced Land

      Secure, graveled, and fenced commercial land available for rent.
      2310 S Hayden Rd, Airway Heights, WA
      View Details
    • $22/mo

      Retail Space in West Spokane

      High-visibility retail suite located in West Spokane near Airway Heights.
      10414 W Hwy 2, Airway Heights, WA
      View Details
    • Contact for pricing

      Airway Heights Warehouse Space Available

      202,800 SF warehouse/industrial space in Airway Heights, Washington.
      11603 West McFarlane Road, Airway Heights, WA
      View Details
    • Contact for pricing

      Airway Heights Flex Space Available

      2,500 SF flex space for lease in Airway Heights.
      12525 W Sunset Hwy, Airway Heights, WA 99001
      View Details
    • Contact for pricing

      Land For Lease

      Land available for lease in Airway Heights, Washington.
      0 S Deer Heights Rd, Airway Heights, WA 99224
      View Details
    • Contact for pricing

      Land For Lease

      Land available for lease.
      0 Deer Heights Rd, Airway Heights, WA 99224
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.45 acres of graded land available for lease.
    Where is this commercial land located?
    The property is located at 11109 US-2 Airway Heights, WA.
    What are key features of this property?
    This property features: Prime location in Airway Heights; 1.45 acres available; High traffic count: 27,000 ± ADT W Sunset Hwy
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jon Jeffreys
    Real Estate License ID: WA JEFFRJJ153P
    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!