421 Freya StSpokane, WA 99202

Property Details for 421 Freya St

Year built

1950

Lot size

1.77 AC

Property size (Sq ft)

29,748 SF

Property type

Showrooms

APN

35153.1415

APU

351531415

Description

This exceptional 44,200-square-foot warehouse, located at 421 N Freya St, presents a compelling investment opportunity. Built in 1950 and renovated in 2018, the property boasts a desirable heavy industrial (HI) zoning designation, allowing for a wide range of uses. The building features convenient dock-high doors and a secure fenced yard, enhancing operational efficiency and security. Ample parking is available both on Freya Street and west of the property. Beyond the main warehouse space, an additional approximately 6,000 square feet of basement space is included, offering significant extra storage or operational capacity. The total lot size encompasses approximately 77,250 square feet, providing ample room for expansion or outdoor activities. The property's central location offers easy access to major transportation routes and key business districts. The lease rate is $0.60 per square foot. The parcel number is 35153.1415. This property is a single-tenant building. This warehouse is ideal for businesses seeking a well-maintained, spacious facility in a prime industrial area. The combination of size, location, and features makes this an attractive option for a variety of industrial and potentially office uses.

• CAP approach

  CAP return

  Valuation

  6%

  $7,592,361

  6.5%

  $7,008,334

  7%

  $6,507,738

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,983,279

  Geo Method

  $15,983,279

• Alternative Use

  Use

  Valuation

  Residential

  $5,911,792

  Hospitality

  $5,415,169

  Educational

  $4,505,357

  Medical

  $4,660,304

  Retail

  $7,008,334

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6614

Longitude

-117.359

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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