Technical
Financial
Distress signals
Property profile

601 1st Ave Spokane, WA 99201

OFF-MARKET
Banks
Property ID
US90-2822831
14,479 SF 0.38 ac lot Built 1981
Trust Owned 7-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional office space in the Washington Trust Bank Tower East, located at 601 W 1st Ave, Spokane, WA 99201, offers multiple floors for lease, totaling up to 12,066 rentable square feet. The building boasts a prime location on 1st Avenue in Spokane County, providing convenient access to I-90 and Spokane Transit Authority (STA) bus lines, ensuring easy commutes for employees. The property features adaptable floor layouts to suit various business needs, complemented by abundant natural light and city views. Enjoy the convenience of a new fitness center equipped with showers and lockers, along with shared conference rooms available for reservation. The building benefits from an efficient core design, including an updated lobby and private office thermostats for climate control. On-site property management ensures smooth operations. New long-term ownership is committed to ongoing capital improvements. Parking is readily available at a ratio of one stall per 1,000 square feet. The building's proximity to numerous high-quality retail and dining establishments adds to its appeal. This is a truly exceptional opportunity to secure prestigious office space in the heart of Spokane.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1981
Total area 14,479 SF
Lot 0.38 ac (16,512 SF)
APN 35191.2506
UPID US90-2822831

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Engineering Consultant Electrical Engineer
  • Law Firm
  • (Bike/Boat/Book/etc) Store Corporate Office
  • (Bike/Boat/Book/etc) Store Corporate Office
  • (Bike/Boat/Book/etc) Store Corporate Office

Location

601 1st Ave Spokane, WA 99201-3825
Spokane metro Census 3500 SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$4.06M
Blend (final) Blend
$3.73M

Owner & transaction history

since 2019
7 recorded transactions
2019
$24.0M
2006
$25.7M
2004
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

Top alternative use upside
Office building $3.6M +45.5%
Medical building $3.4M +39.8%
Restaurant $3.2M +30.3%

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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