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    5505 Regal St Spokane, WA 99223

    Sponsored
    For Sale
    $7,500,000

    Spokane medical office, 35,040 sq ft, vacant.

    Property size:
    35,040 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 35,040 square foot medical office building, located at 5505 S Regal St in Spokane, Washington, presents a unique investment opportunity. The property sits on a 2.33-acre lot (102,890 square feet) and boasts a prime location in Spokane's desirable South Hill neighborhood, situated on a main arterial road. The building features a turnkey fitness center, including a four-lane, 20-yard lap pool, making it ideal for a variety of medical uses. Ample parking is available with 183 spaces, including 48 stalls directly facing 55th and Regal Streets and an additional 135 spaces in a connected overflow lot accessible via a pedestrian trail. The property is zoned for mixed use, offering flexibility for future development. The surrounding area includes recently constructed apartment complexes to the north and local retail to the south and west, ensuring a strong and growing community presence. The asking price is $7,500,000. This is a rare opportunity to acquire a substantial, well-located property with significant potential in a thriving market. The building is currently vacant.

    Property Features for 5505 Regal St

    General Information

    Property type
    Medical offices
    Square Feet
    35,040 SF
    Lot Size
    101,495 SF

    HighLights

    • 35,040 SF medical office building.
    • 2.33‑acre lot (102,890 SF).
    • Turnkey fitness center with a four‑lane, 20‑yard lap pool.
    • Excellent access and visibility on Regal Street in Spokane's desirable South Hill neighborhood.
    • 183 parking spaces: 48 directly facing 55th & Regal, 135 in overflow lot with pedestrian access.
    • Mixed‑use zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage 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
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.3681947
    Latitude
    47.6037607

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    FAQs

    What type of property is this?
    Medical office - Spokane medical office, 35,040 sq ft, vacant.
    Where is this medical office located?
    The property is located at 5505 Regal St Spokane, WA.
    What is the asking price?
    The asking price for this property is $7,500,000.
    What are key features of this property?
    This property features: 35,040 SF medical office building.; 2.33-acre lot (102,890 SF).; Turnkey fitness center with a four-lane, 20-yard lap pool.
    Request Owner's contact information
    5505 Regal St Spokane, WA 99223
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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
    5505 Regal St Spokane, WA 99223
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