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    124 Jefferson St Spokane, WA 99201

    Sponsored
    For Sale
    $1,300,000

    Historic Flex Space, Redevelopment Ready

    Property size:
    21,677 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents three prime commercial buildings in Spokane's vibrant Central Business District (CBD). The portfolio comprises a total of approximately 21,677 square feet across three buildings situated on a combined lot size of approximately 0.38 acres (16,500 square feet). The buildings, constructed in 1900 and 1911, boast a rich history, previously serving as a cold storage and ice packing facility. Their adaptive zoning allows for a multitude of redevelopment possibilities, catering to a range of commercial uses. The properties benefit from superb visibility and location, adjacent to recently revitalized commercial spaces, positioning them ideally for future growth within the evolving downtown landscape. The addresses are 124 S Jefferson Street, 1212 W Railroad Alley, and 1216 W Railroad Alley, Spokane, WA 99201. Parcel numbers are 35192.5327, 35192.5328, and 35192.5329. Currently vacant, this portfolio offers a unique chance to acquire a significant piece of Spokane's downtown history and shape its future. The flexible space is suitable for various uses, including flex space, refrigerated/cold storage, and storefront retail, making it an attractive proposition for investors seeking a high-potential redevelopment project in a rapidly growing area. The buildings are two stories each. This is a rare opportunity to acquire a substantial and historically significant property in a prime downtown location.

    Property Features for 124 Jefferson St

    General Information

    Property type
    Refrigerated & Cold Storages
    Square Feet
    21,677 SF
    Lot Size
    16,553 SF

    Building Details

    Year Built
    1900
    Buildings
    3
    Stories
    2

    HighLights

    • Three (3) buildings totaling ±21,677 square feet on a ±0.38‑acre lot.
    • Located in Spokane's Central Business District (CBD) at 124 S Jefferson Street, 1212 W Railroad Alley, and 1216 W Railroad Alley, Spokane, WA 99201. Parcel Numbers: 35192.5327, 35192.5328, and 35192.5329.
    • Built in 1900 and 1911, each building is two stories. Adaptive zoning allows for diverse commercial uses.
    • Excellent visibility and location in a revitalized area, offering high redevelopment potential.
    • Currently vacant, presenting a unique opportunity to acquire a historically significant property.
    Property Profile Location Intelligence

    Current Use by Public Records

    Pacific Pak Ice Ice Supplier

    Suggested Use

    Restaurant Dental Office Hair Salon Realty agency Spa & Massage Nail Salon Building Supply Daycare Center Clothing Store Kitchen & Bath

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4298748
    Latitude
    47.6558488

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    FAQs

    What type of property is this?
    Refrigerated / Cold Storage - Historic Flex Space, Redevelopment Ready
    Where is this refrigerated / cold storage located?
    The property is located at 124 Jefferson St Spokane, WA.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Three (3) buildings totaling ±21,677 square feet on a ±0.38-acre lot.; Located in Spokane's Central Business District (CBD) at 124 S Jefferson Street, 1212 W Railroad Alley, and 1216 W Railroad Alley, Spokane, WA 99201. Parcel Numbers: 35192.5327, 35192.5328, and 35192.5329.; Built in 1900 and 1911, each building is two stories. Adaptive zoning allows for diverse commercial uses.
    Request Owner's contact information
    124 Jefferson St Spokane, WA 99201
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    Spokane, WA 99201
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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
    124 Jefferson St Spokane, WA 99201
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