Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Building Details

Buildings 1

Stories 2

Tenancy Single

Listing Agency: Kiemle Hagood

Listed By: Tim Kestell · License #WA 84800 Show Phone

Source: Crexi

Added: Oct 15, 2021 Changed: Oct 7 Last Checked: Oct 14 at 10:54PM

Report an Issue

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 Kiemle Hagood

Investment Insights

Based on property information with market context.

This mixed-use property offers both for sale and lease options. The building has a total size of 10450 square feet. It can be used for industrial, office, and retail purposes.

Key Highlights

• For Sale or Lease

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$60,800

Cap Rate

6.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,216,000 $1.2M

Cap Rate 7%

$868,571 $868.6K

Cap Rate 9%

$675,556 $675.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,450 SF

Gross rent

$92.8K $8.88/SF

− Vacancy

−$5.9K −$0.57/SF

EGI

$86.9K $8.31/SF

− OpEx

−$26.1K −$2.49/SF

NOI

$60.8K $5.82/SF

Area

Spokane, WA

Vacancy

6.40%

Lease Rate

$8.88 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,216,000

Cap Rate 7%

$868,571

Cap Rate 9%

$675,556

Alternative Uses

Best Use

Office B

$2.14M

$1.87M – $2.49M (±1% cap)

NOI $149,634 @ 7.0% cap · market cap 16.63%

Second Best

Mixed Use

$1.78M

$1.56M – $2.08M (±1% cap)

NOI $124,812 @ 7.0% cap · market cap 13.87%

Theoretical Best

Office A

$2.70M

$2.36M – $3.15M (±1% cap)

NOI $188,727 @ 7.0% cap · market cap 20.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Carpet & Flooring Store Locksmith (Bike/Boat/Book/etc) Store Tanning Salon Clothing & Fashion Store Fish Market

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,408

Businesses Nearby

Explore this area Business Placement

Demographics for 99201, WA

15,716

Population

8,842

Households

1.8

Avg Household Size

39

Median Age

34%

College-Educated

91%

High-School Grad

3.0 sq mi

ZIP Area

5,239

Density / Sq Mi

$35,286

Median Household Income

$36,599

Median Earnings

$883

Median Rent

$259,800

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

Similar For Sale Nearby

See more

Industrial Warehouse Flex Building

308-318 S Grant Street, Spokane, WA 99202

$950,000

11,648 SF

View details

Flex Warehouse with Roll-Up Door

1611 S Geiger Blvd, Spokane, WA 99224

$679,000

9,000 SF

View details

Apartment Building with Mini Storage

3004 E Boone Avenue, Spokane, WA 99202

$1,350,000

9,294 SF

View details

Flex Warehouse with Showroom

3626 E Trent Ave, Spokane, WA 99202

$990,000

8,020 SF

View details

Industrial Manufacturing Building For Sale

3502 N Market St, Spokane, WA 99207

$895,000

7,226 SF

View details

Historic Office Building with Patio

224 - 230 S Washington St, Spokane, WA 99201

$989,000

6,840 SF

View details

Retail Office Building with Drive-Thru

2716 N Argonne Rd, Spokane, WA 99212

$1,450,000

View details

Flex Office and Clear-Span Warehouse

14 E Main Ave, Spokane, WA 99202

$1,250,000

6,500 SF

View details

Four-Unit Office Building

25 N Napa St, Spokane, WA 99202

$575,000

6,400 SF

View details

Office Building Near Spokane Convention Center

1915 N Division St, Spokane, WA 99207

$699,900

5,472 SF

View details

Storefront Property with Roll-Up Door

1517 East Sprague Avenue, Spokane, WA 99202

$600,000

View details

Historic Warehouse with Storage Bays

112 W Pacific Ave, Spokane, WA 99201

$700,000

21,225 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Mixed-use property available for sale or lease.

Where is this mixed-use property located?

The property is located at 1108 W 2nd Ave Spokane, WA.

What is the asking price?

The asking price for this property is $900,000.

What are key features of this property?

This property features: For Sale or Lease