Property profile

217 N Napa St Spokane, WA 99202

FOR SALE
Parking lots & garages
Property ID
US90-0262441
3,072 SF 0.27 ac lot Built 1979
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional investment opportunity presents a 100% occupied, single-tenant warehouse located at 217 N Napa St, Spokane, WA 99202. The property, built in 1979 and renovated in 1981, boasts a light industrial zoning designation (Spokane County) and comprises a single building totaling [Building size - information not provided, please add this data]. Currently leased to Advanced Life Systems under a Net Lease (NNN) agreement, the tenant occupies the entire space through July 31, 2027, providing a stable income stream. The asking price for this turnkey investment is $575,000. Detailed building floor plans are available upon request. This property is ideally suited for investors seeking a secure, long-term, passive income generating asset in a desirable Spokane location. The property's location offers convenient access to major transportation routes, enhancing its logistical appeal. The 1981 renovation ensures the building is well-maintained and equipped to meet the needs of its current tenant. This is a rare opportunity to acquire a fully leased, low-maintenance industrial property in a thriving market. Further information, including detailed financial statements, is available to qualified buyers. Don't miss this chance to add a strong performing asset to your portfolio.

Property profile

Verified
Property type Parking lots & garages
Use group PARKING GARAGE, PARKING STRUCTURE
Year built 1979
Construction STEEL FRAME
Total area 3,072 SF
Lot 0.27 ac (11,942 SF)
APN 35163.2708
UPID US90-0262441

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

217 N Napa St Spokane, WA 99202
Spokane metro Census 14500 SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$480k
CAP Approach CAP
by Request
Comparable Approach Comparable
$685k
Blend (final) Blend
$520k

Owner & transaction history

since 2025
7 recorded transactions
2025
Price N/A
2022
Price N/A
2022
$575,000
2020
Price N/A
2019
$283,000
2019
Price N/A
2003
$153,000

Zoning & alternative use

Top alternative use upside
Office building $770,000 +49.5%
Medical building $730,000 +42.2%
Auto repair, garage $605,000 +18.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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