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Customizable Storage Condo Complex

1551 S Deer Heights Rd Spokane, WA 99224

1551 S Deer Heights Rd, Spokane, WA, 99224
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Luxury storage condos offering customizable units for warehouse, shop, or office.

Property Size1,440 SF
Price / SF$173.54
AddedJul 12, 2023
Days on Market1100
Last RefreshJul 15 at 4:57 pm

Property Features for 1551 S Deer Heights Rd

General Information

Standard status
Active
Size
1,440 SF
Property subtype
Industrial

Building Details

Year Built
2023

Listing office Sds Realty Inc.

Listing date Jul 12, 2023

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 Sds Realty Inc.


Investment Insights

Based on property information with market context.

Garage Lodge is a luxury storage condo complex featuring customizable units within three separate buildings. The complex is situated just south of the roundabout on Highway 2 (Sunset Highway), at the corner of Deer Heights Road and Flight Drive. Each unit, sold as a shell, presents an opportunity for those seeking a personalized warehouse, shop, office, or storage space. Each Garage Lodge unit is separately metered for both gas and electricity. A 100 amp panel is installed, and gas is stubbed outside the back wall. Garage Lodge provides amenities to enhance the condominium lifestyle. The complex is located in a secure gated area. The owner's lodge serves as a central hub, offering amenities that provide convenience and comfort for owners, allowing them to utilize shared spaces for work, relaxation, and socializing. The property size is 1440 square feet.

Key Highlights

  • Customizable shell unit: Perfect for warehouse, shop, office, or storage, personalized to your needs.
  • Secure, gated complex: Ensures the safety of units and their contents.
  • Owner's lodge: Central hub offering amenities for work, relaxation, and socializing.

Local Financial Insights For Warehouse

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 $12.3k $8.52
− Vacancy −$1.2k −$0.83
EGI $11.1k $7.69
− OpEx −$1.7k −$1.15
NOI $9.4k $6.53
1,440 SF · lease $8.52/SF/yr · vacancy 9.80% · expense 15.00%

Alternative Uses

Best Use
Warehouse
$134.4K
$117.6K – $156.8K (±1% cap)
NOI $9,406 @ 7.0% cap · market cap 3.76%
Second Best
Industrial
$119.7K
$104.7K – $139.6K (±1% cap)
NOI $8,378 @ 7.0% cap · market cap 3.35%
Theoretical Best
Office A
$371.5K
$325.1K – $433.4K (±1% cap)
NOI $26,006 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Garage Lodge Storage Facility Detail Bros Spokane ... Car Wash CDA National Car Dealership

Suggested Use

Electrical Service Locksmith Building Supply (Bike/Boat/Book/etc) Store Carpet & Flooring Store Pharmacy Kitchen & Bath Showroom Hair Salon Barber Shop Computer & Electronic Repair

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

FAQs

What type of property is this?
Flex space - Luxury storage condos offering customizable units for warehouse, shop, or office.
Where is this flex space located?
The property is located at 1551 S Deer Heights Rd Spokane, WA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Customizable shell unit: Perfect for warehouse, shop, office, or storage, personalized to your needs.; Secure, gated complex: Ensures the safety of units and their contents.; Owner's lodge: Central hub offering amenities for work, relaxation, and socializing.
Contact an agent
(509) 747-1051 Call to check price and availability
More about this property
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