507 Washington StSpokane, WA 99204

Property Details for 507 Washington St

Year built

1953

Lot size

0.69 AC

Property size (Sq ft)

3,284 SF

Property type

Office properties

Property subtype

Office buildings

APN

35191.4514

APU

351914514

Description

This exceptional 10,092 square foot medical office building, located at 507 S Washington St, Spokane, WA 99204, presents a unique investment opportunity. Built in 1953 and extensively renovated in 2002, the property sits on a sizable 30,000 square foot lot and is zoned CB-150. Currently offering multiple tenancies, there is significant vacant space totaling 6,242 square feet, ideal for expansion or new tenants. The available space is divisible, with options ranging from 1,407 to 4,835 square feet, catering to various medical practices' needs. The building's location in Spokane County's Periphery submarket offers convenient access to major transportation routes and a growing patient base. The property's APN is 35191.4514. This is a rare chance to acquire a well-maintained medical office building with substantial potential for growth in a desirable Spokane location. The property's history of successful medical tenancy speaks to its suitability and appeal within the market. Don't miss this opportunity to secure a prime medical office space in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $570,171

  6.5%

  $526,311

  7%

  $488,718

• Comparable approach

  Method

  Valuation

  Relative Method

  $700,182

  Geo Method

  $700,182

• Alternative Use

  Use

  Valuation

  Residential

  $652,626

  Hospitality

  $597,802

  Educational

  $497,364

  Medical

  $514,469

  Retail

  $773,678

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6511

Longitude

-117.417

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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