601 5th Ave, Spokane, WA 99204-2705
- Medical Office Space
- 18,850 SF
- 0.64 lot acres
Current Use by Public Records
- Thomas Kwiatkowski, MD / Hospital
- NWOS / Medical Clinic
- Inspire Physical & Hand Therapy - Downtown, Spokane, WA / Medical Clinic
- Jesse Brouwer, PT, DPT, CMP / Physician
- Spokane Occupational & Hand Therapy / Physician
Property Details for 601 5th Ave
- Year built
- 2004
- Lot size
- 0.64 lot acres
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 35191.4207
- APU
- 351914207
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 22, 2026 | — | Spokane 601 Mp Wrk7 LLC | Welltower Om Group LLC | Special Warranty Deed | $360.3M · Capital One NA |
| Mar 2, 2023 | — | Epc Cobalt LLC | Healthcare Ga Spokane Mob LLC | Special Warranty Deed | — |
| Nov 19, 2018 | — | Healtheare Ga Spokane Mob LLC | G And E Reit II Spokane Mob LLC | Bargain And Sale Deed | — |
| Jun 30, 2017 | $120,394,691 | Multicare Health System | Spokane Washington Hosp Co LLC | Quit Claim Deed · related | — |
| Feb 1, 2012 | $32,500,000 | G & E Hc Reit II Spokane Mob LLC | Medistar Spokane Medical Cente | Grant Deed | — |
| Oct 3, 2008 | $71,683,417 | Spokane Wa Hospital Co LLC | Deaconess Medical Center-spoka | Grant Deed | — |
| — | — | Medistar Spokane Medical Ctr | — | Deed Of Trust · related | $3.4M · Empire Health Services INC |
| — | — | Northwest Orthopaedic Speciali | — | Deed Of Trust · related | $1.5M · Sterling Savings Bank |
Description
This exceptional five-story Class A medical office building, totaling 0 square feet, offers two immediately available suites within Spokane County's thriving medical corridor. Located in the Hospital District and conveniently situated on a bus line, this property boasts unparalleled access to major medical facilities. It's adjacent to Deaconess Medical Center, one block east of Shriner's Hospital for Children, and within one mile of Providence Sacred Heart Medical Center & Children's Hospital. The building itself is part of a flourishing medical hub, also near St. Luke's Rehabilitation Institute, and offers excellent freeway access for patient and staff convenience. Currently, 5,369 square feet of first-floor space is available, ranging from approximately 1,610 square feet to the full 5,369 square feet. For tenants signing a five-year lease, a generous tenant improvement allowance of $50 per square foot is offered, along with three months of free rent (excluding the construction period). This presents a unique opportunity for medical practices seeking a prestigious location with significant incentives. The building's multiple tenancy structure ensures a diverse and vibrant professional environment. Don't miss this chance to establish your practice in a highly sought-after medical destination.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $4,060,000
- 6.5%
- $3,745,000
- 7%
- $3,480,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,600,000
Market price range: $988k - $2.60M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $4,485,000 Current use
- OFFICE BUILDING
- $4,715,000 Change: +5% Conversion: Easy
- RETAIL STORES
- $4,340,000 Change: -3% Conversion: Difficult
- RESTAURANT
- $4,180,000 Change: -7% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $3,725,000 Change: -17% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Spokane
- County
- Spokane
- State
- Washington
- Longitude
- -117.422
- Latitude
- 47.6511
- CBSA code
- 44060
- CBSA name
- SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
