225 3Rd AveSpokane, WA 99202

Property Details for 225 3Rd Ave

Year built

1978

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.33 AC

Property size (Sq ft)

6,999 SF

Property type

Retail properties

Property subtype

Banks

APN

35202.2413

APU

352022413

Description

This exceptional Spokane, WA property at 225 E 3rd Ave, 99202 offers 2,300 square feet of combined medical and traditional office space, currently divided into Suites #4 and #5, each approximately 1,150 square feet. The space is available for lease as a whole or potentially divisible. Located in a high-traffic area with an average daily traffic count of approximately 6,704 vehicles on 3rd Avenue, this property benefits from excellent visibility and accessibility. On-site parking is provided for tenants and clients. The property also offers the opportunity for pylon signage, enhancing visibility and brand recognition. Current tenants include Washington State University Real Estate & Business Opportunities (Suites #1 & #2), West & Company Realty LLC (Suite #3), and Two Maids & A Mop (Suite #6). The net-net-net (NNN) expense is $3.50 per square foot. This versatile space is ideal for a variety of medical or office uses and presents a unique opportunity in a thriving Spokane location. Contact for rental rate information.

• CAP approach

  CAP return

  Valuation

  6%

  $1,786,303

  6.5%

  $1,648,895

  7%

  $1,531,117

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,760,487

  Geo Method

  $3,760,487

• Alternative Use

  Use

  Valuation

  Residential

  $1,390,904

  Hospitality

  $1,274,061

  Educational

  $1,060,004

  Medical

  $1,096,459

  Retail

  $1,648,895

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6539

Longitude

-117.407

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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