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    164 Division St Spokane, WA 99202
    Property profile & analytics

    164 Division St Spokane, WA 99202

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    • Commercial real estate
    Off-Market
    Property ID
    US90-1696061
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 164 Division St

    Property type
    Commercial real estate

    Description

    This exceptional 164 S Division St property presents a unique opportunity for industrial development or investment. The land is designated for industrial use and is currently available as a single-tenant site, offering significant flexibility for a variety of projects. Its prime location directly off Interstate 90 and 2nd Avenue ensures unparalleled accessibility and visibility, crucial for efficient logistics and business operations. The high traffic volume on Pacific Avenue and Division Street, totaling 22,660 vehicles per day, provides exceptional exposure for any business operating on the site. This translates to significant potential for attracting customers and clients. The property's strategic location offers easy access to major transportation arteries, facilitating seamless movement of goods and services. The single-tenant nature of the land simplifies ownership and management, minimizing complexities often associated with multi-tenant properties. This is an ideal opportunity for businesses seeking a strategically located, easily accessible, and highly visible industrial site to establish or expand their operations. The property's size and zoning regulations should be verified independently to ensure suitability for specific project requirements. Serious inquiries are encouraged to explore the full potential of this exceptional industrial land offering.

    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
    -117.41123921955
    Latitude
    47.655283154015

    Comparable in this City

    • $0.72 SF/Yr
      65,340 SF

      Spokane Industrial Land for Sale

      Secure Outside Storage Yard - 1.5 Acres
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    • $7 SF/Yr
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      Freya Street Warehouse Opportunity

      Spacious Industrial Warehouse, Excellent Location
      421 Freya St, Spokane, WA 99202
      View Details
    • $2,500 /Mo
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      Industrial Space with Fenced Yard

      3,029 SF industrial space with warehouse, office, and yard.
      2202 E Broadway Ave, Spokane, WA 99202
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      Industrial Single Tenant Flex Space

      6,811 SqFt industrial flex space available for single tenant.
      1711 E Trent Ave, Spokane, WA 99202
      View Details

    Similar Nearby for Sale

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      Office/Warehouse Property For Sale

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      Spokane U-District Showroom and Warehouse

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      Spokane Industrial Space For Rent

      Industrial property available for lease in Spokane, Washington.
      308-316 S Grant St, Spokane, WA 99202
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    • $1,490,000
      14,896 SF

      Versatile Spokane Commercial Warehouse Space

      15,000 sq ft warehouse with office space in Spokane.
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      6,060 SF

      Industrial Space Available For Rent

      Industrial property with 6,060 square feet available for rent.
      125 S Arthur St, Spokane, WA 99202
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    Similar Nearby for Lease

    • $0.72 SF/Yr
      65,340 SF

      Spokane Industrial Land for Sale

      Secure Outside Storage Yard - 1.5 Acres
      4224 Riverside Ave, Spokane, WA 99202
      View Details
    • $7 SF/Yr
      44,200 SF

      Freya Street Warehouse Opportunity

      Spacious Industrial Warehouse, Excellent Location
      421 Freya St, Spokane, WA 99202
      View Details
    • $2,500 /Mo
      3,029 SF

      Industrial Space with Fenced Yard

      3,029 SF industrial space with warehouse, office, and yard.
      2202 E Broadway Ave, Spokane, WA 99202
      View Details
    • Contact for pricing

      Industrial Single Tenant Flex Space

      6,811 SqFt industrial flex space available for single tenant.
      1711 E Trent Ave, Spokane, WA 99202
      View Details
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    164 Division St
    Spokane, WA 99202
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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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