Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2005 29Th Ave Spokane, WA 99203
    Back to Search
    Property profile & analytics

    2005 29Th Ave, Spokane, WA 99203

    View on Map
    • Neighborhood centers
    Off-Market
    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 & Spaces

    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
      802 29th Ave, Spokane, WA 99203-3219
      View Details
    • Value Estimation by Request

      2009 29Th Ave

      Retail properties & Spaces
      2009 29Th Ave, Spokane, WA 99203
      View Details
    • Value Estimation
      $1,970,000
      9,775 SF

      3707 Grand Blvd

      OFFICE BUILDING
      3707 Grand Blvd, Spokane, WA 99203-2762
      View Details
    • Value Estimation
      $1,255,000
      7,235 SF

      2772 Grand Blvd

      MEDICAL BUILDING
      2772 Grand Blvd, Spokane, WA 99203-2526
      View Details
    • Value Estimation
      $3,540,000
      16,560 SF

      2021 29th Ave

      OFFICE BUILDING
      2021 29th Ave, Spokane, WA 99203-3957
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      43,093 SF

      Grapetree Village Retail Opportunity

      Grapetree Village on Spokane's South Hill is for sale.
      2005 E 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing
      7,234 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
      2,240 SF

      Updated Bungalow Across From Manito

      1923 bungalow near Manito Park, generating over $64,000 yearly.
      1823 S Grand Blvd, Spokane, WA 99203
      View Details
    • $775,000
      Pending

      South Hill Multifamily Investment Opportunity

      Spacious multifamily property in premier South Hill neighborhood near Manito Park.
      618 E 23Rd 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
    • $625,000
      0.34 Acres

      Spacious Lot in Desirable Rockwood

      0.34-acre lot in Rockwood, ideal for custom home.
      S Rockwood Blvd, Spokane, WA 99203
      View Details

    Similar Nearby for Lease

    • $3,500 /Mo

      South Hill Retail Space Available

      Retail spaces for lease in high-traffic South Hill neighborhood.
      802 E 29Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing

      Flexible Office/Retail Space Available

      Office/retail spaces ranging from 262 to 2,102 SF for rent.
      1001 W 25Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing

      Retail and Office Spaces Available

      Retail and office spaces available for lease.
      2005 E 29Th Ave, Spokane, WA 99203
      View Details
    • $1,920 /Mo

      South Hill Retail or Office

      Corner lot location ideal for retail or office use.
      1001 W 25Th Ave, Spokane, WA 99203
      View Details
    • Contact for pricing
      5,000 SF

      Spokane Retail Space Available

      Retail space available for lease in Spokane, Washington.
      830 E 29Th Ave, 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

    Thank You for Inquiry
    2005 29Th Ave, Spokane, WA, 99203
    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!