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    507 Washington St Spokane, WA 99204

    Sponsored
    For Lease
    $4 SF/Yr ($3,364 /Mo)

    10,092 SF Medical Building, 6,242 SF Vacant

    Lot size:
    10,092 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 10,092 square foot medical office building, located at 507 S Washington St, Spokane, WA 99204, presents a unique investment opportunity. Built in 1953 and extensively renovated in 2002, the property sits on a sizable 30,000 square foot lot and is zoned CB-150. Currently offering multiple tenancies, there is significant vacant space totaling 6,242 square feet, ideal for expansion or new tenants. The available space is divisible, with options ranging from 1,407 to 4,835 square feet, catering to various medical practices' needs. The building's location in Spokane County's Periphery submarket offers convenient access to major transportation routes and a growing patient base. The property's APN is 35191.4514. This is a rare chance to acquire a well-maintained medical office building with substantial potential for growth in a desirable Spokane location. The property's history of successful medical tenancy speaks to its suitability and appeal within the market. Don't miss this opportunity to secure a prime medical office space in a thriving community.

    Property Features for 507 Washington St

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,092 SF
    Total Rate
    3364

    Building Details

    Year Built/Renovated
    1953/2002

    Unit(s) available at that property

    Space
    Suite 10
    Size
    4,835 SF
    Rate per SF
    $6
    Space
    Suite 70
    Size
    1,407 SF
    Rate per SF
    $4

    HighLights

    • Building elevator.
    • On‑site parking.
    • Located in Spokane's medical district at the SE corner of Washington Street & 5th Avenue.
    • 30,000 square foot lot.
    • Parcel number: 35191.4514.
    • CB‑150 zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jesse Garcia, PT Physical Therapist Christiian T. Lewis, ... Endocrinologist Inland Pain Specialists Pain Management Physician Corey Plaster Dentist Jamelynn B. Mark, ... Doctor

    Suggested Use

    Restaurant Dental Office Realty agency Spa & Massage Hair Salon Law Firm Nail Salon Building Supply Clothing Store Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4173785
    Latitude
    47.6510115

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    FAQs

    What type of property is this?
    Medical office - 10,092 SF Medical Building, 6,242 SF Vacant
    Where is this medical office located?
    The property is located at 507 Washington St Spokane, WA.
    What is the lease rate?
    The lease rate is $4-$6 SF/Yr.
    What are key features of this property?
    This property features: Building elevator.; On-site parking.; Located in Spokane's medical district at the SE corner of Washington Street & 5th Avenue.
    Request Owner's contact information
    507 Washington St Spokane, WA 99204
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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
    507 Washington St Spokane, WA 99204
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