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    601 Main Ave Spokane, WA 99201

    Sponsored
    For Lease
    $12 SF/Yr

    Executive Suites, 19 Spaces Available

    Lot size:
    173,341 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    410
    The Chase Bank Building, located at 601 W Main Ave in Spokane, WA 99201, offers a prime opportunity for businesses seeking executive office space. This 14-story building, constructed in 1973, boasts a total of 173,341 square feet and sits on a 0.44-acre lot. The building is zoned Cbd & Periphery, allowing for a variety of commercial uses. Currently, there are 19 available spaces ranging from a minimum of 605 square feet to a maximum of 12,556 contiguous square feet. The largest contiguous space available is 8,499 square feet. Individual suites feature desirable amenities such as six window offices, a conference room, break room, work room, open space, and a reception area. All rental rates are fully serviced, encompassing utilities and janitorial services, providing a hassle-free and efficient work environment. This exceptional location in Spokane's central business district offers unparalleled convenience and accessibility. The building's impressive size and flexible space options make it an ideal location for a variety of businesses, from small startups to established corporations. Inquire today to learn more about the available spaces and schedule a viewing.

    Property Features for 601 Main Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    173,341 SF
    Total Rate
    173341

    Building Details

    Year Built
    1973
    Stories
    14

    Unit(s) available at that property

    Space
    Suite 1000
    Size
    12,556 SF
    Rate per SF
    $22
    Space
    Suite 812
    Size
    1,104 SF
    Rate per SF
    $22
    Space
    Suite 813
    Size
    804 SF
    Rate per SF
    $22
    Space
    Suite 612
    Size
    1,390 SF
    Rate per SF
    $22
    Space
    Suite 615
    Size
    1,281 SF
    Rate per SF
    $22
    Space
    Suite 320
    Size
    2,992 SF
    Rate per SF
    $22
    Space
    Suite 315
    Size
    1,851 SF
    Rate per SF
    $22
    Space
    Suite 201
    Size
    2,835 SF
    Rate per SF
    $22
    Space
    Suite 203
    Size
    778 SF
    Rate per SF
    $22
    Space
    Suite 714
    Size
    8,499 SF
    Rate per SF
    $22
    Space
    Suite 601
    Size
    3,864 SF
    Rate per SF
    $22
    Space
    Suite 510
    Size
    6,248 SF
    Rate per SF
    $22
    Space
    Suite 202
    Size
    605 SF
    Rate per SF
    $22
    Space
    Suite 103
    Size
    2,401 SF
    Rate per SF
    $30
    Space
    Suite 810
    Size
    3,519 SF
    Rate per SF
    $22
    Space
    Suite 001
    Size
    4,899 SF
    Rate per SF
    $12
    Space
    Suite 301
    Size
    1,562 SF
    Rate per SF
    $22
    Space
    Suite 200
    Size
    1,934 SF
    Rate per SF
    $22
    Space
    Suite 814
    Size
    1,059 SF
    Rate per SF
    $22

    We can help!

    Listing Contact
    Richard Fox
    Richard Fox

    Learn more

    Property Insight Report

    HighLights

    • Prime CBD location on Main Avenue.
    • Abundant nearby shopping, dining, and entertainment.
    • Jimmy John's and Thomas Hammer Coffee in building lobby.
    • Convenient access to Riverfront Park and River Park Square.
    • City and Spokane River views with ample natural light.
    • Flexible floor plan options available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Marsh Insurance Agency Chase Mortgage Mortgage Lender Walker Michael J Attorney Kiemle Hagood Commercial Real Estate Agency Grzelak Keith D Lawyer

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.421684
    Latitude
    47.6587805

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    FAQs

    What type of property is this?
    Office Property / Space - Executive Suites, 19 Spaces Available
    Where is this office property / space located?
    The property is located at 601 Main Ave Spokane, WA.
    What is the lease rate?
    The lease rate is $12-$30 SF/Yr.
    What are key features of this property?
    This property features: Prime CBD location on Main Avenue.; Abundant nearby shopping, dining, and entertainment.; Jimmy John's and Thomas Hammer Coffee in building lobby.
    Request Owner's contact information
    601 Main Ave Spokane, WA 99201
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    Spokane, WA 99201
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    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
    601 Main Ave Spokane, WA 99201
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    We can help!
    Listing Contact
    Richard Fox
    Richard Fox
    Real Estate License ID: WA 127165
    Learn more
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