Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Addison St Spokane, WA 99218

    Property Lookup

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

    Addison St Spokane, WA 99218

    View on Map
    • Land
    • 1.51 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Addison St

    Lot size
    1.51 lot acres
    Property type
    Land

    Description

    This exceptional commercial land offering presents a rare opportunity in Spokane, Washington. Located on N Addison St, in the 99218 zip code, these parcels boast prime positioning within Spokane County's thriving North Corridor. The available land ranges from 1.51 to 3.06 acres, providing flexibility for various development projects. This highly desirable location offers unparalleled convenience and visibility, situated adjacent to major retail anchors including Fred Meyer, MDRN Fitness, and Costco, as well as numerous quick-serve restaurants. The strategic placement ensures high foot traffic and excellent accessibility for potential tenants and customers. The property is suitable for build-to-suit projects, allowing developers to tailor the construction to specific business needs. This presents a unique chance to create a landmark commercial development in a high-demand area. The parcels are zoned for commercial use, and all necessary utilities are readily available. Interested parties are encouraged to explore the potential of this exceptional investment opportunity. Detailed site plans and zoning information are available upon request. Don't miss this chance to secure a prominent location in Spokane's dynamic North Corridor.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.406
    Latitude
    47.7767

    Comparable in this City

    • Value Estimation by Request
      2,885 SF

      10414 Us-2

      Land • 2,885 SF
      10414 Us-2, Spokane, WA 99218
      View Details
    • Value Estimation by Request

      9641 Nevada St

      Land
      9641 Nevada St, Spokane, WA 99218
      View Details
    • Value Estimation by Request
      0.96 Acres

      105 Falcon Ave

      Land • 0.96 Acres
      105 Falcon Ave, Spokane, WA 99218
      View Details
    • Value Estimation by Request

      Newport Hwy

      Land
      0 Newport Hwy, Spokane, WA 99218
      View Details
    • Value Estimation by Request

      Addison St

      Land
      0 Addison St, Spokane, WA 99218
      View Details
    • Value Estimation by Request
      0.81 Acres

      Addison St

      Land • 0.81 Acres
      0 Addison St, Spokane, WA 99218
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale Spokane

      Land available for sale at 10404 N Newport Hwy, Spokane, WA.
      10404 N Newport Hwy, Spokane, WA 99218
      View Details
    • $459,000

      Northpointe Medical Land: Spokane, WA

      Prime Spokane Medical Land - $459,000
      9641 Nevada St, Spokane, WA 99218
      View Details
    • Contact for pricing

      Prime Commercial Lot on Highway

      Commercial lot suitable for retail, office, or mixed-use development.
      11324 N Newport Hwy, Spokane, WA 99218
      View Details
    • Contact for pricing

      Prime Commercial Retail Land Available

      21.91 acres of land with high visibility and easy access.
      14718 N Newport Hwy, Spokane, WA 99218
      View Details
    • $337,920

      North Spokane Commercial Land Parcel

      Commercial land parcel in established North Spokane commercial district.
      9641 N Nevada St, Spokane, WA 99218
      View Details
    • $699,000

      Mixed Use Land For Sale

      0.96 acre mixed-use land with highway access.
      105 E Falcon Ave, Spokane, WA 99218
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land For Rent Spokane

      Land available for rent in Spokane, Washington.
      N Newport Hwy, Spokane, WA 99218
      View Details
    • Contact for pricing

      Land For Rent

      Land available for single tenant use.
      105 E Falcon Ave, Spokane, WA 99218
      View Details
    • Contact for pricing
      60,854 SF

      Commercial Land Available For Rent

      Commercial land available for lease in Spokane, WA.
      9915 N Division St, Spokane, WA 99218
      View Details
    • Contact for pricing

      Commercial Land For Rent

      41.82 Acres ±, great location off Hwy 2.
      N Newport Hwy, Spokane, WA 99218
      View Details
    • Contact for pricing

      Spokane Commercial Land for Lease

      24.67 acre commercial land available for lease in Spokane.
      10000 N Nevada St, Spokane, WA 99218
      View Details
    • Contact for pricing
      14 SF

      14.7 Acres Mixed-Use Land

      14.7 acres of mixed-use land for lease.
      North - 14.7, Spokane, WA 99218
      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.
    Addison St
    Spokane, WA 99218
    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!