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Property profile & analytics
OFF-MARKET Estimated value $3,225,000
Medical Office Space

601 5th Ave Spokane, WA 99204-2705

18,850 SF 0.64 ac lot Built 2004
Entity Owned ~ Est. High Equity
Property ID
US90-3300598
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 2004
Total area 18,850 SF
Lot 0.64 ac (27,833 SF)
APN 35191.4207
UPID US90-3300598
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
  • 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
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$3.75M
Comparable Approach Comparable
$2.60M
Blend (final) Blend
$3.23M
Owner & transaction history
Spokane 601 Mp Wrk7 LLC
Spokane 601 Mp Wrk7 LLC
since 2026
7 recorded transactions
2026
Price N/A
2023
Price N/A
2018
Price N/A
2017
$120.4M
2012
$32.5M
2008
$71.7M
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $4.7M +5.2%
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