5615 W Sunset Hwy Spokane, WA 99224
- Banks
- 1,316 SF
- 6.67 lot acres
Current Use by Public Records
- Human Resources Job Center Kaiser Permanente / Human Resource Consulting
- Kaiser Permanente-Medicare Sales / Insurance Company
- Michael Norwood, PharmD / Pharmacy
- Burke Sherrie L / Nutritionist
Property Details for 5615 W Sunset Hwy
- Year built
- 1993
- Lot size
- 6.67 lot acres
- Property size
- 1,316 SF
- Property type
- Banks
- APN
- 25272.9167
- APU
- 252729167
Description
This exceptional 57,750-square-foot executive office building, located at 5615 W Sunset Hwy in Spokane, Washington, presents a compelling investment opportunity. Built in 1993, this single-story, steel-frame building with an EIFS exterior sits on a substantial 6.67-acre lot (approximately 290,454 square feet) and boasts 321 parking stalls (a ratio of 6.6 per 1,000 square feet). Currently 100% occupied under a triple-net (NNN) lease with a single tenant, the property offers a strong 7.5% cap rate and an asking price of $9,250,000 ($160.17 per square foot). The lease features a remaining term of 2.9 years (expiring June 29, 2025), with two 5-year lease options, each including 3.0% escalations, and 3.0% annual increases. The current monthly rent is $56,161.88 ($11.67 per square foot). This property represents a stable, high-performing investment in a desirable Spokane location. The building's size, ample parking, and strong lease terms make it an attractive asset for discerning investors. The location in Spokane County, WA, zip code 99224, offers excellent access to major transportation routes and amenities.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.492
- Latitude
- 47.6418
- CBSA code
- 44060
- CBSA name
- SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
