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    706 1St St Cheney, WA 99004

    Sponsored
    For Lease
    $12 SF/Yr ($7,500 /Mo)

    7,500 SF Office Building, 1st & C St

    Lot size:
    7,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 706 1st Street in Cheney, Washington, presents a unique investment opportunity. The 7,500 square foot building, constructed in 1954, sits on a 0.21-acre lot and is zoned G1 Downtown Core. The property features a traditional office layout spread across two stories within a single building. Currently, there is 4,500 square feet of retail/office space available for lease, ideal for a variety of businesses. Its prime location at the corner of 1st and C Streets offers excellent visibility and accessibility. The property's proximity to Eastern Washington University (EWU) campus makes it particularly attractive to businesses catering to students and faculty. The APN is 13131.2511. This versatile space offers a blend of historical charm and modern functionality, making it an excellent choice for businesses seeking a prominent presence in the heart of Cheney's vibrant downtown area. The multiple tenancy structure allows for flexibility in leasing arrangements. This is a rare opportunity to acquire a well-situated commercial property in a growing community. The property's size and location provide significant potential for future growth and profitability. The building's age presents an opportunity for renovation and modernization to further enhance its value and appeal.

    Property Features for 706 1St St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    7,500 SF
    Total Rate
    7500

    Building Details

    Year Built
    1954
    Buildings
    1
    Stories
    2

    Unit(s) available at that property

    Space
    Size
    4,500 SF
    Rate per SF
    $12

    HighLights

    • Top‑floor features six single‑room occupancy (SRO) units.
    • Main floor offers 4,500 square feet of retail/office space.
    • Corner lot location on 1st Street in downtown Cheney.
    • Excellent walkability to Eastern Washington University.
    • Convenient 20‑minute commute to downtown Spokane.
    • Located 20 minutes from Spokane International Airport (GEG).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheney
    County
    Spokane
    State
    Washington
    Longitude
    -117.57358431612
    Latitude
    47.488907426061

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    FAQs

    What type of property is this?
    Office Property / Space - 7,500 SF Office Building, 1st & C St
    Where is this office property / space located?
    The property is located at 706 1St St Cheney, WA.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Top-floor features six single-room occupancy (SRO) units.; Main floor offers 4,500 square feet of retail/office space.; Corner lot location on 1st Street in downtown Cheney.
    Request Owner's contact information
    706 1St St Cheney, WA 99004
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    Cheney, WA 99004
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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
    706 1St St Cheney, WA 99004
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