Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Spokane Land For Sale Title is generated by Realmo AI

    W 28th Ave, Spokane, WA 99224

    View on Map
    Claim this Listing
    For Sale
    $54,000

    LAND - Spokane, WA

    Lot size:
    0.12 Acres
    Added:
    Nov 3, 2025
    Days on Market:
    199
    Last Refresh:
    May 21 at 1:06 pm

    Property Features for W 28th Ave

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    25263.1202
    Lot size
    0.12 Acres

    Taxes and HOA fees

    Tax Annual Amount
    562

    Utilities

    Utilities
    Phone Available
    Sewer type
    Private Sewer
    Water source
    Private

    We can help!

    Listing Contact
    Bryan Gustaveson

    Listing agent Bryan Gustaveson License #134373

    Listing office Windermere Manito, LLC 2829 S GRAND BLVD STE 101, Spokane, WA

    Listing date Nov 3, 2025

    MLS# 202526317 Listing URL

    Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Level lot ideal for building a custom home, duplex, or manufactured home.
    • Zoned Low Density Residential with no CCR's or HOA's.
    • Convenient access to I‑90, Airport, Downtown, Fairchild AFB, Amazon Dist. Center and Airway Heights.
    • Feeling of country living despite proximity to city amenities.
    • Private Water Source and Sewer.
    • Phone Available.

    Overview

    This 0.124-acre level lot in Spokane, Washington, is zoned Low Density Residential and offers the opportunity to build a custom home, duplex, or manufactured home. The property has no CCR's or HOA's. It provides convenient access to I-90 and is located a short distance from the Airport, Downtown, Fairchild AFB, Amazon Distribution Center, and Airway Heights. The location combines accessibility to urban amenities with a more rural feel. The surrounding area features schools and a community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4902
    Latitude
    47.6304

    Nearby Similar for Sale

    • $990,000
      8,020 SF

      Spokane Commercial Property For Sale

      Commercial property with showroom and easy freeway access in Spokane.
      3626 E Trent Ave, Spokane, WA 99202
      View Details
    • $675,000
      13,386 SF

      South Hill Adult Family Home

      Well-established, income-producing adult family home in a peaceful Spokane neighborhood.
      2214 E 36th Ave, Spokane, WA 99203
      View Details
    • $669,000
      3,016 SF

      South Hill Fourplex on Acreage

      Fourplex with development potential on nearly half an acre.
      1023 W 6th Ave, Spokane, WA 99204
      View Details
    • $525,000
      4,448 SF

      Spokane Ranch Duplex in Indian Trail

      Well-maintained duplex in desirable location with income potential.
      3220 W Francis Ave, Spokane, WA 99205
      View Details
    • $700,000
      16,063 SF

      South Hill Adult Family Home

      Well-established, income-producing adult family home in a peaceful Spokane neighborhood.
      4414 S Helena St, Spokane, WA 99223
      View Details
    • $899,000
      9,000 SF

      Spokane Commercial Flex Space Available

      9,000 SF flex space on 1.88 acres for sale.
      1611 S Geiger Blvd, Spokane, WA 99224
      View Details
    • $1,490,000
      14,896 SF

      Versatile Spokane Commercial Warehouse Space

      15,000 sq ft warehouse with office space in Spokane.
      3303 E Ferry Ave, Spokane, WA 99202
      View Details
    • $1,790,000
      7,950 SF

      Spokane 10-Unit Apartment Building

      Turn-key investment opportunity: 10-unit apartment near NorthTown Mall.
      6511 N Atlantic St, Spokane, WA 99208
      View Details
    • $225,000
      1,200 SF

      Spokane Garage Lodge Automotive Space

      Automotive space with lift, clubhouse access, near Hwy 2.
      1551 Deer Heights Rd, Spokane, WA 99224
      View Details
    • $365,000
      2,608 SF

      Versatile Church Property on Corner

      Church property with development potential on a large corner lot.
      4315 N Evergreen Rd, Spokane, WA 99216
      View Details
    • $995,000
      4,234 SF

      Student Rental Property Near Gonzaga

      Turnkey investment property with secured leases near Gonzaga University.
      303 E Augusta Ave, Spokane, WA 99207
      View Details
    • $450,000
      3,240 SF

      South Hill Triplex Investment Opportunity

      Well-maintained triplex with updated units and income potential.
      3112 E 29th Ave, Spokane, WA 99223
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential land suitable for building a custom home or duplex.
    Where is this residential land & home lot located?
    The property is located at W 28th Ave Spokane, WA.
    What is the asking price?
    The asking price for this property is $54,000.
    What are key features of this property?
    This property features: Level lot ideal for building a custom home, duplex, or manufactured home.; Zoned Low Density Residential with no CCR's or HOA's.; Convenient access to I‑90, Airport, Downtown, Fairchild AFB, Amazon Dist. Center and Airway Heights.
    (509) 747-1051
    We can help!
    Listing Contact
    Bryan Gustaveson
    Real Estate License ID: 134373
    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

    Thank You for Inquiry
    W 28th Ave, Spokane, WA 99224
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!