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    606 N Evergreen Rd Spokane Valley, WA 99037
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    606 N Evergreen Rd Spokane Valley, WA 99037

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    • Medical Office Space
    For Lease
    $35 SF/Yr
    View Listing →
    Spokane Valley Medical/Retail Opportunity For Lease
    $35 SF/Yr
    24,000 SF

    Spokane Valley Medical/Retail Opportunity

    New construction build-to-suit medical or retail space in Spokane Valley.

    606 N Evergreen Rd, Spokane Valley, WA 99037
    View Listing
    Property ID
    US90-1866710
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Equitable Portable Toilet Rental of Spokane Valley / Building Supply
    • Injury Attorney Murphy and Myers / Law Firm

    Property Details for 606 N Evergreen Rd

    Property type
    Medical Office Space
    Property subtype
    Office buildings

    Description

    New Medical Office Building Construction Build to Suit/ Leasing Opportunity. Prime location for medical and dental tenants. 24,000 SF Building Will Divide (10,000 to 24,000 SF). Central Location near medical districts, prime retailers, Spokane Valley Mall and I-90 access. High Visibility and Traffic Count. Custom Design your space and tenant improvement allowance available Located on Evergreen Road in the heart of the Spokane Valley. Between Broadway Ave and Sprague Ave. Features I-90 Access Exit 291A (Evergreen Road Corridor)

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.2172886
    Latitude
    47.6627353

    Comparable in this City

    • Contact for pricing

      Medical Office Space Near Hospital

      Medical office space available near MultiCare Valley Hospital.
      1303 N Mcdonald Rd, Spokane Valley, WA 99216
      View Details
    • $20 SF/Yr

      Retail/Office Space For Rent

      Retail and office spaces available for lease with high visibility.
      13221 E 32Nd Ave, Spokane Valley, WA 99216
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      Premier Business Campus For Lease

      Prestigious business park with natural surroundings, enhancing employee productivity.
      12939 E Mirabeau Pkwy, Spokane Valley, WA 99216
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      Premier Business Campus For Lease

      Prestigious campus with natural surroundings, enhancing employee productivity.
      12410 E Mirabeau Pkwy, Spokane Valley, WA 99216
      View Details
    • $25 SF/Yr

      Spokane Valley Office Space Available

      Office space in prime Spokane Valley location with freeway exposure.
      16212 E Indiana Ave, Spokane Valley, WA 99216
      View Details
    • $25 SF/Yr
      2,230 SF

      Modern Office Space Available

      New office building with tenant improvement allowance and excellent parking.
      16009 East Indiana Ave, Spokane Valley, WA 99216
      View Details

    Similar Nearby for Sale

    • $7,400,000

      Class A Medical Office Building

      Well-maintained medical office building with freeway signage and flexible zoning.
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      Spokane Riverfront Office Building

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      Converted Office Building For Sale

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      Spokane Valley Office/Warehouse Space

      Functional office and warehouse space in Spokane Valley industrial area.
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    • $925,000
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      Spokane Valley Office Space Available

      Commercial office space for lease in Spokane Valley.
      12308 E Broadway Ave, Spokane Valley, WA 99216
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      4,308 SF

      Prime Office/Retail Space Available

      Ground floor office/retail space with high traffic and accessibility.
      6607 E Broadway Ave, Spokane Valley, WA 99216
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    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Space Near Hospital

      Medical office space available near MultiCare Valley Hospital.
      1303 N Mcdonald Rd, Spokane Valley, WA 99216
      View Details
    • $20 SF/Yr

      Retail/Office Space For Rent

      Retail and office spaces available for lease with high visibility.
      13221 E 32Nd Ave, Spokane Valley, WA 99216
      View Details
    • Contact for pricing

      Premier Business Campus For Lease

      Prestigious business park with natural surroundings, enhancing employee productivity.
      12939 E Mirabeau Pkwy, Spokane Valley, WA 99216
      View Details
    • Contact for pricing

      Premier Business Campus For Lease

      Prestigious campus with natural surroundings, enhancing employee productivity.
      12410 E Mirabeau Pkwy, Spokane Valley, WA 99216
      View Details
    • $25 SF/Yr

      Spokane Valley Office Space Available

      Office space in prime Spokane Valley location with freeway exposure.
      16212 E Indiana Ave, Spokane Valley, WA 99216
      View Details
    • $25 SF/Yr
      2,230 SF

      Modern Office Space Available

      New office building with tenant improvement allowance and excellent parking.
      16009 East Indiana Ave, Spokane Valley, WA 99216
      View Details
    View Listing
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    606 N Evergreen Rd
    Spokane Valley, WA 99037
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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