Spokane Commercial Real Estate Information
Spokane is the largest market for commercial real estate in eastern Washington State. The City of Spokane has an approximate population of 216,000, however the greater region of Spokane is much larger. The Spokane region is broken up into 5 separate regions which are Spokane, Spokane Valley, Cheney, Airway Heights, and Liberty Lake. The Spokane – Spokane Valley Metropolitan Statistical Area (MSA) includes all of Spokane, Stevens, and Pend Oreille Counties and has a 2016 population of 556,634.
In the greater Spokane region there is a diverse range of commercial facilities and properties available for purchase and lease. Whether you are looking to purchase a retail building for your restaurant, single tenant NNN investment, or lease a warehouse for your industrial business, there many are options for commercial properties available in Spokane WA.
Garage Lodge - Luxury Storage Condos
1551, Deer Heights Rd, Spokane, WA 99224- Available SQ. FT. 1200
- Building SQ. FT. 29310
- Cap Rate:
- LOT SQ. FT. 74564
- Year Built: 2022
- CBA #: 645394
Listed By: Bornhoft Commercial
8800 W Hallett Road
8806, Hallett Rd, Spokane, WA 99224- Available SQ. FT. 100188
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 101059
- Year Built:
- CBA #: 644964
Listed By: Berkshire Hathaway First Look
11120 W Westbow Lane
11120, Westbow Ln, Spokane, WA 99004- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 179903
- Year Built:
- CBA #: 644963
Listed By: Berkshire Hathaway First Look
Asian Restaurant
5306, Sunset Hwy, Spokane, WA 99224- Available SQ. FT.
- Building SQ. FT. 2427
- Cap Rate:
- LOT SQ. FT. 17424
- Year Built: 1951
- CBA #: 644853
Listed By: Cantu Commercial Properties
West Plains Logistics
0, Hallett Rd, Spokane, WA 99224- Available SQ. FT. 528000
- Building SQ. FT. 562000
- Cap Rate:
- LOT SQ. FT. 1204662
- Year Built: 2022
- CBA #: 644844
Listed By: NAI Puget Sound Properties
Development - Sunset Hwy & Geiger
5221, Sunset Hwy, Spokane, WA 99224- Available SQ. FT.
- Building SQ. FT. 3376
- Cap Rate:
- LOT SQ. FT. 235272
- Year Built: 1938
- CBA #: 644706
Listed By: Kiemle Hagood
1108-1110 W 2nd Avenue
1108, 2nd Ave, Spokane, WA 99201- Available SQ. FT.
- Building SQ. FT. 10450
- Cap Rate:
- LOT SQ. FT. 14200
- Year Built: 1963
- CBA #: 644580
Listed By: Kiemle Hagood
Premera Blue Cross
3900, Sprague Ave, Spokane, WA 99202- Available SQ. FT.
- Building SQ. FT. 103000
- Cap Rate:
- LOT SQ. FT. 252212
- Year Built: 1983
- CBA #: 644248
Listed By: Kiemle Hagood
Kaiser Permanente
5615, Sunset Hwy, Spokane, WA 99224- Available SQ. FT.
- Building SQ. FT. 57750
- Cap Rate:
- LOT SQ. FT. 290545
- Year Built: 1993
- CBA #: 644176
Listed By: Kiemle Hagood
2321 W Northwest Boulevard
2321, Northwest Blvd, Spokane, WA 99205- Available SQ. FT.
- Building SQ. FT. 3567
- Cap Rate:
- LOT SQ. FT. 9345
- Year Built: 1929
- CBA #: 643323
Listed By: RenCorpRealty
5701 W Sunset Highway
5701, Sunset Hwy, Spokane, WA 99224- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 54450
- Year Built:
- CBA #: 642865
Listed By: Kiemle Hagood
Riverview on Riverside
1404, Riverside Ave, Spokane, WA 99201- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 20473
- Year Built:
- CBA #: 642763
Listed By: Kiemle Hagood
309 W Riverside Avenue
309, Riverside Ave, Spokane, WA 99201- Available SQ. FT.
- Building SQ. FT. 15000
- Cap Rate:
- LOT SQ. FT. 13400
- Year Built: 1913
- CBA #: 642073
Listed By: Kiemle Hagood
4812 S Marshall Road - 6 Parcels
4812, Marshall Rd, Spokane, WA 99224- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 1349489
- Year Built:
- CBA #: 641794
Listed By: Keller Williams Realty
1850 E Hartson Ave
1850, Hartson Ave, Spokane, WA 99202- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 61855
- Year Built:
- CBA #: 640942
Listed By: Goodale & Barbieri Company
W Westbow Road - Land
0, Westbow Rd, Spokane, WA 99224- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 110207
- Year Built:
- CBA #: 638852
Listed By: Berkshire Hathaway First Look
Hazelwood Development - .48 Acre
10117, Hwy 2, Spokane, WA 99001- Available SQ. FT.
- Building SQ. FT. 0
- Cap Rate:
- LOT SQ. FT. 20909
- Year Built:
- CBA #: 637281
Listed By: Daines Capital
35 - 39 W Pacific Avenue
35, Pacific Ave, Spokane, WA 99201- Available SQ. FT.
- Building SQ. FT. 22000
- Cap Rate:
- LOT SQ. FT. 12197
- Year Built: 1911
- CBA #: 636730
Listed By: Black Commercial, Inc.
Commerce Park at West Plains-Build to Suit
11515, Medical Lake Rd, Spokane, WA 99004- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 4094640
- Year Built:
- CBA #: 636714
Listed By: SVN Cornerstone LLC
Iron Bridge Office Campus - Land
811, Iron Bridge Way, Spokane, WA 99202- Available SQ. FT.
- Building SQ. FT.
- Cap Rate:
- LOT SQ. FT. 255349
- Year Built:
- CBA #: 636437
Listed By: Kiemle Hagood
Spokane WA
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Spokane Commercial Real Estate Lease Rates
The average rental rates for office space in Spokane vary from Class A to Class C. If you are looking for Class A office space you should expect to pay between $22 per square foot to $32 per square foot plus NNN. Class B office space ranges in rents between $18 per square foot and $24 per square foot.
Retail leasing rates in Spokane vary based on location. High visibility, premium retail locations lease in the $24 per square foot to $30 per square foot range. If you are looking to locate a coffee shop, professional retail office, or restaurant, you will be looking in the $12 per square foot to $16 per square foot range. Keep in mind that most commercial real estate leases are NNN, which range in price between $3 per square foot and $5 per square foot and are in addition to the base rent charged monthly.
The Best Areas in Spokane WA to Locate Your Business
There are various locations in Spokane WA that may be ideal for setting up your business. For example, West Main Avenue is an ideal, high traffic location in the heart of Spokane’s historical downtown. The downtown core of Spokane offers some lucrative and fun locations for businesses. In downtown you will find business centers with executive suites and modern co-working spaces.
Other popular locations for commercial real estate in Spokane are Riverside Avenue, Mullan Road, E Montgomery, Mission Avenue, Liberty Lake.
Spokane Valley is another city in the Spokane region that offers opportunity for investors and business in the commercial real estate realm. Being the largest suburb of the City of Spokane, Spokane Valley enjoys it own business ecosystem. Spokane Valley has it’s own shopping mall and independent services to stand alone as a unique city.
How Can We Help You Buy or Rent Commercial Real Estate in Spokane?
The greater Spokane region has plenty of options for available office, retail, and industrial space for lease and sale. The experts at North Sound Commercial are standing by to help your expand your business and invest in Spokane Washington. Give us a call and let’s get your search started.