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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Palouse Hwy Spokane, WA 99223

    • Land
    • 1.81 lot acres
    For Sale
    View listing
    $999,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Palouse Hwy

    Lot size
    1.81 lot acres
    Property type
    Land

    Description

    This exceptional 1.81-acre commercial land parcel presents a compelling investment opportunity in Spokane, Washington. Located on E Palouse Hwy, this property boasts a highly desirable location with significant traffic volume. The site's APN is 34032.9007. Specifically, the property benefits from its proximity to Regal, experiencing approximately 19,000 average daily traffic (ADT) to the north and 15,000 ADT to the south. This high visibility ensures excellent exposure for any commercial development. The asking price for this strategically positioned land is $999,000. The property is zoned for commercial use (specific zoning details should be independently verified). Its location in Spokane County, WA, zip code 99223, offers easy access to major transportation routes and a thriving local economy. This is an ideal site for a variety of commercial ventures, capitalizing on the high traffic counts and prime location. Serious inquiries are encouraged to explore the potential of this exceptional commercial land offering. The property is classified as commercial land. Further due diligence is recommended to confirm all aspects of the property and its suitability for intended use.

    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
    -117.366
    Latitude
    47.6103

    Comparable in this City

    • Value Estimation by Request
      9,230 SF

      2975 29Th Ave

      Retail properties • 9,230 SF
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    • Value Estimation by Request

      4300 Regal St

      Land
      4300 Regal St, Spokane, WA 99223
      View Details
    • Value Estimation by Request
      2,691 SF

      3128 29th Ave

      COMMERCIAL (GENERAL) • 2,691 SF
      3128 29th Ave, Spokane, WA 99223-4816
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    • Value Estimation
      $8,715,000
      50,812 SF

      2705 29th Ave

      COMMERCIAL (GENERAL) • 50,812 SF
      2705 29th Ave, Spokane, WA 99223-4845
      View Details
    • Value Estimation by Request
      0.45 Acres

      3402 33rd Ave

      COMMERCIAL (GENERAL) • 0.45 Acres
      3402 33rd Ave, Spokane, WA 99223
      View Details
    • Value Estimation by Request
      0.15 Acres

      3420 33rd Ave

      COMMERCIAL (GENERAL) • 0.15 Acres
      3420 33rd Ave, Spokane, WA 99223
      View Details

    Similar Nearby for Sale

    • $2,305,620

      Land Available in Spokane, WA

      Land for sale at 2410-2410 E 29th Ave, Spokane, WA
      2410-2410 E 29Th Ave, Spokane, WA 99223
      View Details
    • Contact for pricing

      South Hill Spokane Land Opportunity

      Prime 3-acre parcel, ideal development.
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    • $99,000

      Land Parcel For Sale

      Land parcel zoned for commercial and residential use.
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    • $999,000
      1.81 Acres

      Prime Spokane Commercial Land

      1.81 Acres, High Traffic, Investment Opportunity
      0 Palouse Hwy, Spokane, WA 99223
      View Details
    • $274,900
      4.75 Acres

      Spokane Land with Breathtaking Views

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      Prime South Hill Land Opportunity

      1.77 +/- acre land on Spokane's South Hill.
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    Similar Nearby for Lease

    • $16 SF/Yr
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      Lincoln Heights Retail Center

      Prime Retail Space Available Now
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      354,578 SF

      Spokane Commercial Land - 8 Acres

      Prime Spokane commercial land, 8.14 acres, ideal for development.
      4300 Regal St, Spokane, WA 99223
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    • Contact for pricing
      3 SF

      South Hill Commercial Land Available

      3.18 acres of commercial land for lease on South Hill.
      57th Ave & Palouse Hwy, Spokane, WA 99223
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    • Contact for pricing
      76,665 SF

      High Traffic Corner Commercial Land

      Commercial land for rent on high traffic corner location.
      5825 S Palouse Hwy, Spokane, WA 99223
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      2 SF

      South Hill Land for Lease

      2.33 Acres ± of land available for lease.
      4107 S Regal St, Spokane, WA 99223
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    • Contact for pricing
      69,696 SF

      Land Available For Ground Lease

      Land available for ground lease in Spokane, Washington.
      2810-2826 E 29Th Ave, Spokane, WA 99223
      View Details
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    Palouse Hwy
    Spokane, WA 99223
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    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
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