601 5Th AveSpokane, WA 99201

Property Details for 601 5Th Ave

Year built

2004

Lot size

0.64 AC

Property size (Sq ft)

18,850 SF

Property type

Healthcare properties

Property subtype

Medical offices

APN

35191.4207

APU

351914207

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,272,752

  6.5%

  $3,021,002

  7%

  $2,805,216

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,019,008

  Geo Method

  $4,019,008

• Alternative Use

  Use

  Valuation

  Residential

  $3,746,042

  Hospitality

  $3,431,355

  Educational

  $2,854,847

  Medical

  $2,953,030

  Retail

  $4,440,873

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6511

Longitude

-117.422

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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