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Property profile & analytics
FOR LEASE
Office buildings

507 S Washington St Spokane, WA 99204

3,284 SF 0.69 ac lot Built 1953
Entity Owned 9-yr Hold ~ Est. High Equity
Property ID
US90-0066855
Property summary
AI-generated overview

This exceptional 10,092 square foot medical office building, located at 507 S Washington St, Spokane, WA 99204, presents a unique investment opportunity. Built in 1953 and extensively renovated in 2002, the property sits on a sizable 30,000 square foot lot and is zoned CB-150. Currently offering multiple tenancies, there is significant vacant space totaling 6,242 square feet, ideal for expansion or new tenants. The available space is divisible, with options ranging from 1,407 to 4,835 square feet, catering to various medical practices' needs. The building's location in Spokane County's Periphery submarket offers convenient access to major transportation routes and a growing patient base. The property's APN is 35191.4514. This is a rare chance to acquire a well-maintained medical office building with substantial potential for growth in a desirable Spokane location. The property's history of successful medical tenancy speaks to its suitability and appeal within the market. Don't miss this opportunity to secure a prime medical office space in a thriving community.

Property profile
Verified
Property type Office buildings
Use group PROFESSIONAL BUILDING
Year built 1953
Total area 3,284 SF
Lot 0.69 ac (30,000 SF)
APN 35191.4514
UPID US90-0066855
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
  • Jesse Garcia, PT Physician
  • Christiian T. Lewis, ARNP Physician
  • Inland Pain Specialists Physician
  • Corey Plaster Dental Office
  • Jamelynn B. Mark, ARNP Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$630k
CAP Approach CAP
$770k
Comparable Approach Comparable
$1.22M
Blend (final) Blend
$910k
Owner & transaction history
Washington Medical Building LLC · 9 yrs held
Washington Medical Building LLC
since 2017
7 recorded transactions
2017
Price N/A
2017
$2.0M
2017
Price N/A
2016
Price N/A
2006
$3.6M
2006
Price N/A
2006
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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