1222 Post StSpokane, WA 99201

Property Details for 1222 Post St

Year built

1998

Lot size

0.52 AC

Property size (Sq ft)

14,000 SF

Property type

Banks

APN

35182.1617

APU

351821617

Description

This exceptional 10,334 square foot Class B office building, located at 1222 N Post St in Spokane, Washington, 99201, presents a unique investment opportunity. Currently vacant, this property is ideally suited for an owner-user or savvy investor seeking a prime location. The building features a desirable medical office and traditional office subtype, offering versatility for a range of businesses. Priced at $1,895,000 ($183.38/SF), the property operates under a triple net (NNN) lease structure, making it an attractive option for those seeking predictable operating expenses. The building boasts ample on-site parking, a significant advantage in a bustling urban area. Its convenient location offers proximity to Downtown Spokane and the Spokane Arena, ensuring high visibility and accessibility. The property is anticipated to be available in Q4 2024, with the possibility of earlier occupancy. This is a rare chance to acquire a well-situated, versatile office building in a thriving Spokane neighborhood. The single-tenancy structure simplifies management and provides a clear path to maximizing return on investment. The building's size and features make it an excellent choice for a variety of uses, from medical practices to corporate offices. Don't miss this opportunity to secure a valuable asset in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,831,010

  6.5%

  $2,613,240

  7%

  $2,426,580

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,104,340

  Geo Method

  $3,104,340

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,151,490

  Mixed-Use / Specialty

  $2,581,540

  Hospitality / Lodging

  $1,864,840

  Office

  $2,542,880

  Institutional / Educational

  $2,675,750

  Residential Income

  $3,130,630

  Multifamily

  $3,878,840

  Automotive / Energy

  $2,293,500

  Parking / Income-Based Land

  $813,582

  Restaurant / Food Service

  $1,294,890

  Healthcare / Senior Housing

  $2,670,280

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6689

Longitude

-117.423

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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