Sign Up Successful!
You now have access to more from Realmo!
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

    2005 29Th Ave Spokane, WA 99203

    • Neighborhood centers
    For Lease
    View listing
    $22 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dr. Thomas R. Miller, DO / Pediatrician / Physician
    • Concentra Urgent Care / Occupational Health Service / Medical Clinic
    • Quick Local Plumbing / Plumbing Service / General Contractor

    Property Details for 2005 29Th Ave

    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    This exceptional commercial property at 2005 E 29th Ave in Spokane, Washington, offers a diverse range of office spaces ideal for businesses of various sizes. Located in Spokane County, this retail and office complex features three available suites, providing flexibility for tenants seeking between 1,000 and 6,400 contiguous square feet. A total of 11,400 square feet is currently vacant, presenting a significant opportunity for expansion or relocation. The property is classified as both Executive Office and Traditional Office space, catering to a wide array of professional needs. The building boasts ample parking with 192 spaces available for tenants and their clients. The property's address is 2005 E 29th Ave, Spokane, WA 99203. The minimum divisible space is 1,000 square feet, while the maximum contiguous space available is 6,400 square feet. This prime location offers excellent visibility and accessibility, making it an attractive option for businesses seeking a prominent presence in the Spokane market. The property type is listed as Retail, Office, and the subtype includes Executive Office, Traditional Office, and Strip Center, indicating a versatile space suitable for a variety of commercial uses. The tenancy is multiple, suggesting a vibrant and diverse community of businesses.

    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
    -117.382
    Latitude
    47.6284

    Comparable in this City

    • Value Estimation by Request

      2005 29Th Ave

      Lifestyle centers
      2005 29Th Ave, Spokane, WA 99203
      View Details
    • Value Estimation
      $3,240,000
      113,348 SF

      802 29th Ave

      SHOPPING CENTER, STRIP CENTER • 113,348 SF
      802 29th Ave, Spokane, WA 99203-3219
      View Details
    • Value Estimation by Request

      2009 29Th Ave

      Retail properties
      2009 29Th Ave, Spokane, WA 99203
      View Details
    • Value Estimation
      $900,000
      1,338 SF

      3424 Grand Blvd

      OFFICE BUILDING • 1,338 SF
      3424 Grand Blvd, Spokane, WA 99203-2621
      View Details
    • Value Estimation
      $1,135,000
      6,812 SF

      1919 Grand Blvd

      PROFESSIONAL BUILDING • 6,812 SF
      1919 Grand Blvd, Spokane, WA 99203-2347
      View Details
    • Value Estimation
      $1,885,000
      12,332 SF

      2230 29th Ave

      MEDICAL BUILDING • 12,332 SF
      2230 29th Ave, Spokane, WA 99203
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Helena Office Space for Lease

      Class A Office, 4200+ sq ft, Great Location
      2005 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing
      807 SF

      Spokane Office Units For Sale

      Office units available in Spokane, WA, totaling 807 square feet.
      2005 E 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing
      0.16 Acres

      Spokane Landlocked South Hill Lot

      Landlocked South Hill lot ideal for neighborhood residents.
      1125 E 32Nd Ave, Spokane, WA 99203
      View Details
    • $1,095,597

      Development Land Near Fairchild AFB

      6.95 acres of development land near Fairchild AFB.
      W 16Th Ave, Airway Heights, WA 99203
      View Details
    • Contact for pricing
      1,934 SF

      South Hill Townhome with Backyard

      Charming Spokane townhome with open layout and private backyard.
      3001 S Winthrop Ln, Spokane, WA 99203
      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

    Similar Nearby for Lease

    • $22 SF/Yr
      16,082 SF

      Spokane Office Space Available

      Prime Spokane location, multiple suites.
      2005 29Th Ave, Spokane, WA 99203
      View Details
    • $18 SF/Yr
      4,568 SF

      South Hill Retail Space Available

      Prime Retail, 1,150 SF, South Hill
      1001 25Th Ave, Spokane, WA 99203
      View Details
    • $16 SF/Yr
      1,256 SF

      Spokane South Hill Retail Space

      High-visibility shopping center in Spokane's South Hill area.
      2975-2975 E 29Th Ave, Spokane, WA 99203
      View Details
    • $3,500 /Mo
      126,867 SF

      South Hill Retail Space Available

      Retail spaces for lease in high-traffic South Hill neighborhood.
      802 E 29Th Ave, Spokane, WA 99203
      View Details
    • $1,920 /Mo
      5,275 SF

      South Hill Retail or Office

      Corner lot location ideal for retail or office use.
      1001 W 25Th Ave, Spokane, WA 99203
      View Details
    • $21 SF/Yr
      25,176 SF

      South Hill Office Space Available

      Office space for rent with ample on-site parking.
      1403 S Grand Blvd, Spokane, WA 99203
      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.
    2005 29Th Ave
    Spokane, WA 99203
    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.