Add Listing
    For Sale
    • 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

    1208 S Lundstrom St Airway Heights, WA 99001

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

    City of Airway Heights Fire Department building for sale.

    Type:Industrial
    Property size:
    7,691 SF
    Price / SF:
    $103/SF
    Added:
    Aug 23, 2023
    Days on Market:
    974
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for 1208 S Lundstrom St

    General Information

    Standard status
    Active
    Size
    7,691 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1964

    We can help!

    Listing Contact
    Doug Byrd

    Listing agent Doug Byrd License #WA

    Listing office Byrd Real Estate Group, LLC

    Listing date Aug 23, 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 Byrd Real Estate Group, LLC

    Overview

    Airway Heights Fire Department Building

    This 7,691-square-foot commercial property is located in Airway Heights, Washington. Currently occupied by the City of Airway Heights Fire Department, the building is under lease through May 2025. The property is suitable for specialty and other specialty commercial real estate purposes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon 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
    -117.5935483
    Latitude
    47.6444307

    Nearby Similar for Sale

    • $420,000
      3,960 SF

      Airway Heights Light Industrial Warehouse

      3960 SF light industrial warehouse on 0.41 acre lot.
      2002 S Garfield Rd, Airway Heights, WA 99001
      View Details
    • $1,099,000

      Airway Heights Commercial Opportunity

      Updated commercial property near Spokane, ideal for various business ventures.
      1927 S Garfield Rd, Airway Heights, WA 99001
      View Details
    • $1,500,000

      Commercial Property on Highway 2

      High-visibility commercial building with additional lots in Airway Heights.
      13514 W Sunset Hwy, Airway Heights, WA 99001
      View Details
    • $1,395,000

      Airway Heights Commercial Property For Sale

      Commercial property in Airway Heights, WA, suitable for various uses.
      13504 W Sunset Hwy, Airway Heights, WA 99001
      View Details
    • $2,057,142
      2,845 SF

      Airway Heights NNN Investment Opportunity

      Single-tenant NNN Zip’s Drive-In with over 14 years remaining.
      12421 W Sunset Hwy, Airway Heights, WA
      View Details
    • $3,500,000
      45,983 SF

      Airway Heights Retail Redevelopment Opportunity

      45,983 SF retail building on 4.88 acres for sale.
      12825 W 14th Ave, Airway Heights, WA 99001
      View Details
    • $1,500,000
      2,233 SF

      Established Restaurant with High Visibility

      Profitable restaurant with expansion potential on a large lot.
      12807 W 14th Ave, Airway Heights, WA 99001
      View Details
    • $299,900

      Airway Heights Warehouse Opportunity

      Warehouse in Airway Heights with fenced yard and power.
      12825 W 17th Ave, Airway Heights, WA
      View Details
    • $2,057,142
      2,845 SF

      NNN Zip’s Drive-In For Sale

      Single-tenant NNN Zip’s Drive-In with over 14 years remaining on lease.
      12421 W Sunset Hwy, Airway Heights, WA 99001
      View Details
    • $3,850,000

      Airway Heights Specialty Property

      Specialty property for sale in Airway Heights, Washington.
      10117 W Sunset Hwy, Airway Heights, WA
      View Details
    • $3,500,000
      49,410 SF

      Former Grocery Store in Airway Heights

      High-visibility commercial property suitable for retail, restaurant, or bar.
      12824 W 14th Avenue, Airway Heights, WA
      View Details
    • $1,850,000
      22,268 SF

      Automated Self-Storage Facility For Sale

      22,268 SF, 114-unit self-storage facility in Airway Heights, WA.
      12310 W 12th Ave, Airway Heights, WA 99001
      View Details

    FAQs

    What type of property is this?
    Specialty property - City of Airway Heights Fire Department building for sale.
    Where is this specialty property located?
    The property is located at 1208 S Lundstrom St Airway Heights, WA.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: City of Airway Heights Fire Department building, suggesting a structurally sound and well‑maintained property.; Currently occupied through May 2025, providing immediate rental income.; Commercial property suitable for various uses after May 2025.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Doug Byrd
    Real Estate License ID: WA
    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!