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Property profile & analytics
FOR LEASE
Banks

323 E 2Nd Ave Spokane, WA 99202

13,551 SF 0.77 ac lot Built 1994
Entity Owned 2-yr Hold Free & Clear
Property ID
US90-1258557
Property summary
AI-generated overview

This exceptional medical office building, located at 323 E 2nd Ave in Spokane, WA, presents a unique investment opportunity. The property boasts a total of 13,557 square feet across two stories, situated on a 0.77-acre lot (APN 35202.1817, Spokane County). The building features multiple tenancies, with three spaces currently available, ranging in size from 146 to 2,227 square feet, offering flexibility for various medical practices. Its convenient location within Spokane's downtown core provides easy access to Interstate 90, ensuring excellent accessibility for patients and staff. Ample on-site parking is available, along with pylon signage opportunities for enhanced visibility. The building's strategic placement also benefits from its proximity to public transportation, being located on a bus line. Furthermore, its location offers exceptional drive times to major area hospitals: Sacred Heart Hospital (4 minutes), Deaconess Hospital (5 minutes), Spokane Valley Hospital (15 minutes), and Holy Family Hospital (14 minutes). This property represents a compelling opportunity to acquire a well-situated medical office building in a thriving Spokane market.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1994
Construction STEEL FRAME
Total area 13,551 SF
Lot 0.77 ac (33,725 SF)
APN 35202.1817
UPID US90-1258557
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Inland Medical Evaluations Medical Clinic
  • Rayuwa Wellness, PLLC Counselor
  • Dr. Terrence D. Rempel, MD Physician
  • Terry Rempel, MD Physician
  • Royce Van Gerpen, MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.57M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.05M
Blend (final) Blend
$1.55M
Owner & transaction history
Avenue 2 LLC · 2 yrs held
Avenue 2 LLC
since 2023
Last sale
$1.6M
4 recorded transactions
2023
$1.6M
1969
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general) $2.4M +5.8%
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More about this property
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