Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10219 Sunset Hwy Spokane, WA 99224

    • Neighborhood centers
    • 10,790 SF
    For Lease
    View listing
    $25 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Froyo Earth / Cafe & Coffee Shop / Take-out & Catering
    • Dr. Thomas Blake / Dental Office
    • Alan Cazan / Dental Office
    • The Man Shop / Barber Shop
    • KidSmile Dental / Dental Office

    Property Details for 10219 Sunset Hwy

    Year built
    2021
    Property size
    10,790 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    Hazelwood Square Development offers a unique investment opportunity in Spokane County. This 10,790 square foot multi-tenant complex, built in 2021, boasts a flexible design catering to a variety of commercial needs. Currently, there are three available spaces ranging in size from 1,500 to 50,000 square feet, providing ample room for expansion or consolidation. The property's diverse zoning allows for retail, office, medical office, light industrial, and flex uses, making it an ideal location for businesses seeking versatility. The 7.28-acre lot provides ample parking and potential for future development. The building's modern construction ensures energy efficiency and a contemporary aesthetic. With 4,276 square feet currently vacant, this presents a significant opportunity for immediate occupancy. The property's location in Spokane County offers excellent access to major transportation routes and a thriving local economy. This is a rare chance to acquire a well-maintained, versatile commercial property with significant growth potential. The multiple tenancy structure provides a diversified income stream and a built-in tenant base. The property's adaptability makes it suitable for a wide range of businesses, ensuring long-term value and stability. Contact us today to learn more about this exceptional investment opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.554
    Latitude
    47.643

    Comparable in this City

    • Value Estimation by Request
      40,000 SF

      10219 Highway 2

      Medical offices • 40,000 SF
      10219 Highway 2, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      166,834 SF

      4626 Dowdy Rd

      Medical offices • 166,834 SF
      4626 Dowdy Rd, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      1,260 SF

      1126 Coeur D'alene St

      Retail properties • 1,260 SF
      1126 Coeur D'alene St, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      20,750 SF

      5807 Thorpe Rd

      Life science properties • 20,750 SF
      5807 Thorpe Rd, Spokane, WA 99224
      View Details
    • Value Estimation by Request

      10525 Sunset Hwy

      Restaurants
      10525 Sunset Hwy, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      94.00 Acres

      11515 Medical Lake Rd

      Land • 94.00 Acres
      11515 Medical Lake Rd, Spokane, WA 99224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      40,000 SF

      Hazelwood Square: Medical Office Space

      Prime Spokane medical office space, highway frontage.
      10219 Highway 2, Spokane, WA 99224
      View Details
    • $2,045,000
      166,834 SF

      Spokane I-90 Commercial Property

      Prime Spokane location, flexible zoning, high visibility.
      4626 Dowdy Rd, Spokane, WA 99224
      View Details
    • $999,000
      9,000 SF

      Spokane Commercial Flex Space Available

      9,000 SF flex space on 1.89 acres in Spokane.
      1611 W Geiger Blvd, Spokane, WA 99224
      View Details
    • Contact for pricing
      2,845 SF

      Airway Heights NNN Investment Opportunity

      Single-tenant NNN Zip’s Drive-In with over 14 years remaining.
      12421 W Sunset Hwy, Airway Heights, WA 99224
      View Details
    • $2,336,000
      48.78 Acres

      Spokane Industrial Land - 48 Acres

      Prime Spokane industrial land, ideal for development.
      7525 Sunset Hwy, Spokane, WA 99224
      View Details
    • $900,000
      5.19 Acres

      Cheney Industrial Land - 5 Acres

      Prime 5-acre industrial lot, Spokane County.
      5800 Thomas Mallen Rd, Cheney, WA 99224
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      10,790 SF

      Hazelwood Square: Medical & Flex Space

      Modern multi-tenant complex; prime Spokane County location.
      10219 Sunset Hwy, Spokane, WA 99224
      View Details
    • $25 SF/Yr
      40,000 SF

      Highway Frontage Multiple Spaces Available

      Multiple spaces available with high visibility and traffic count.
      10219 High Way Ct W, Spokane, WA 99224
      View Details
    • Contact for pricing
      227,000 SF

      Hayford Business Park: New Construction

      New industrial, flex, and office spaces available for lease.
      2001 S Hayford Rd, Airway Heights, WA 99224
      View Details
    • Contact for pricing
      11,500 SF

      New Retail & Office Space

      New construction retail and office space available for lease.
      10430 Aero Rd, Spokane, WA 99224
      View Details
    • $0.85 SF/Yr
      75,000 SF

      Spokane Industrial Space For Lease

      14,748 SF industrial space with I-90 access.
      5010 S Thomas Mallen Rd, Spokane, WA 99224
      View Details
    • $16 SF/Yr
      20,750 SF

      Thorpe Rd Industrial Flex Space

      Class A Spokane industrial space, multiple suites available.
      5807 Thorpe Rd, Spokane, WA 99224
      View Details
    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.
    10219 Sunset Hwy
    Spokane, WA 99224
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!