518 Riverside Ave Spokane, WA 99201

This exceptional three-story, 14,366 square foot creative office building at 518 W Riverside Ave in Spokane, WA, presents a compelling investment opportunity. Boasting a stabilized investment profile with a 7.64% cap rate and a pro-forma cap rate of 8.18%, this Class B property offers significant upside potential. Currently 80% occupied, the building generates a net operating income (NOI) of $168,000, projected to increase to $180,000. Built in 1890 and extensively renovated in 2019, the property features a ground floor retail space occupied by a successful Indaba coffee shop, a mezzanine-level Ignite loft, and various smaller shared workspaces. Convenient downtown Spokane location offers easy access to amenities. On-site amenities include a shower and proximity to executive parking. The 4,534 square foot lot provides ample space. The asking price is $2,200,000, translating to $153.14 per square foot. Recent building improvements include an elevator overhaul. The flexible lease roll provides further investment flexibility. APN: 35184.2408.