Commercial Real Estate Market in Cheney, WA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
136 active listings and 269 off-market properties in Cheney, WA. Commercial property asks $2/SF to buy and $13.49/SF/Yr to lease.
Market Trends
Cheney, WA spans 334.3 square miles in Spokane County, Washington. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in Cheney, WA asks $145/SF to buy. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Retail
Retail vacancy in Cheney, WA runs 5.8% across the West region in 2025, down from 7% in 2020.
Vacancy Rate % in West region
Industrial
Industrial vacancy in Cheney, WA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in Cheney, WA asks $196/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Zoning & Land Use
Land Use Mix share of zoned land by category
- Residential 53.8%
- Industrial 21.1%
- Commercial 12.4%
- Civic 12.4%
- Mixed use 0.3%
Largest Zones share of zoned land by district
Single Family Residential
Light Industrial
Eastern Washington University
Semi Rural Residential
General Commercial
Cheney, WA zones 2,799 acres across 15 districts. Commercial zoning covers 12.4% of zoned land, residential 53.8% and industrial 21.1%. The largest single district is Single Family Residential at 25.7%. For commercial buyers the practical constraint is that only 33.5% of land carries a commercial or industrial designation.
Single Family Residential (R-1)
The purpose of the R-1 Single-Family Residential Zone is to provide for single-family residences, excluding mobile homes, on an average neighborhood density of approximately six dwelling units per acre.
Market overview
Demographics & Economy
Cheney, WA has 23,064 residents in 8,992 households. Density runs 69 people per square mile. Median household income here is $62,014 and median gross rent $1,081 a month.
23,064
Population
8,992
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
334.3 sq mi
ZIP Area
69
Density / Sq Mi
$62,014
Median Household Income
$29,835
Median Earnings
$1,081
Median Rent
$368,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Spangle | — | — |
| Airway Heights | — | — |
Commercial property in Cheney, WA asks $2/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Cheney?
Commercial property in Cheney, WA asks an average of $2 per square foot. The 5 most recent recorded sales traded at a median of $52/SF. Multifamily carries the highest asking price at $196/SF.
How much does it cost to lease commercial space in Cheney?
Asking lease rates in Cheney, WA average $13.49 per square foot per year.
What zoning applies to commercial property in Cheney?
Cheney, WA zones 2,799 acres across 15 districts, of which 12.4% is commercial and 21.1% industrial. The largest single district is Single Family Residential at 25.7% of zoned land. The purpose of the R-1 Single-Family Residential Zone is to provide for single-family residences, excluding mobile homes, on an average neighborhood density of approximately six dwelling units per acre. Residential zoning covers 53.8% and open space 0%.
Where does Realmo's Cheney market data come from?
Realmo compiles Cheney, WA figures from 6 recent recorded sales, 123 active sale listings, 13 active lease listings, 269 tracked off-market properties, the current Cheney zoning release. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 123 active for-sale and 13 active for-lease listings in Cheney, WA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Zoning and land use
- The current municipal zoning release: 2,799 zoned acres across 15 districts. Shares are of zoned land, so parcels the release leaves unclassified are excluded from the mix.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
