Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4219 Wellesley Ave Spokane, WA 99217
    Back to Search
    Property profile & analytics

    4219 Wellesley Ave Spokane, WA 99217

    View on Map
    • Warehouses
    • 1,228 SF
    • 3.58 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Warehouses

    Property Details for 4219 Wellesley Ave

    Year built
    1978
    Lot size
    3.58 lot acres
    Property size
    1,228 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional Spokane County industrial property offers two warehouse spaces totaling 1,228 square feet, currently available for lease. Situated on a generous 3.58-acre lot (10,350 square feet), this property provides ample space for various business needs. Built in 1978, the buildings are zoned LI, offering flexibility for a range of industrial uses. The property features a convenient location at 4219 & 4316 E Wellesley Ave, Spokane, WA 99217, providing easy access to transportation routes. The entire 1,228 square feet is currently vacant, presenting a unique opportunity for immediate occupancy. This multi-tenant property is ideal for businesses requiring both warehouse and yard space, offering significant potential for growth and expansion. The property's substantial lot size allows for ample outdoor storage or maneuvering space. Interested parties are encouraged to inquire about lease terms and conditions. This is a rare opportunity to secure a well-located industrial property in Spokane County. The property's zoning and size make it suitable for a variety of industrial operations. Don't miss this chance to establish your business in this prime location.

    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
    -117.348
    Latitude
    47.701

    Comparable in this City

    • Value Estimation by Request

      2111 Hawthorne Rd

      Distribution properties
      2111 Hawthorne Rd, Spokane, WA 99217
      View Details
    • Value Estimation by Request
      8,250 SF

      5726 Florida St

      Distribution properties • 8,250 SF
      5726 Florida St, Spokane, WA 99217
      View Details
    • Value Estimation by Request
      5,388 SF

      5826 Florida St

      Distribution properties • 5,388 SF
      5826 Florida St, Spokane, WA 99217
      View Details
    • Value Estimation
      $765,000
      9,200 SF

      4023 Central Ave

      DISTRIBUTION WAREHOUSE • 9,200 SF
      4023 Central Ave, Spokane, WA 99217-6585
      View Details
    • Value Estimation
      $510,000
      4,000 SF

      5524 Julia St

      DISTRIBUTION WAREHOUSE • 4,000 SF
      5524 Julia St, Spokane, WA 99217-6629
      View Details
    • Value Estimation by Request
      3,840 SF

      5804 Freya St

      DISTRIBUTION WAREHOUSE • 3,840 SF
      5804 Freya St, Spokane, WA 99217-6500
      View Details

    Similar Nearby for Sale

    • $595,000
      3,746 SF

      Spokane Warehouse Condo For Sale

      Warehouse condo featuring a restroom and grade level overhead door.
      6712-6724 N Pittsburg St, Spokane, WA 99217
      View Details
    • Contact for pricing

      Heavy Industrial Land with Business

      8.39 acres with recycling business near major transportation corridors.
      8716 N Greene Ln, Spokane, WA 99217
      View Details
    • $399,000
      25.04 Acres

      Spokane Land with Views

      25.04 acres with views, privacy, and trees near amenities.
      E Bigelow Gulch Rd, Spokane, WA 99217
      View Details

    Similar Nearby for Lease

    • $6,500 /Mo

      Functional Industrial/Retail Space in Spokane

      Two-bay shop with secured yard in East Spokane.
      4228 E Wellesley Ave, Spokane, WA 99217
      View Details
    • Contact for pricing

      Freya Avenue Flex Space Available

      Versatile flex space ideal for industrial or commercial uses.
      4917 N Freya St, Spokane, WA 99217
      View Details
    • Contact for pricing
      4,204 SF

      New Flex/Warehouse Building For Rent

      New flex/warehouse building under construction, completion estimated for December 2025.
      6402 N Helena St, Spokane, WA 99217
      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.
    4219 Wellesley Ave
    Spokane, WA 99217
    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
    4219 Wellesley Ave, Spokane, WA, 99217
    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!