1003 E 3rd Ave - Freestanding FOR SALE


Spokane, WA 99202
$3,980,000 USD
425-455-3131
1003 E 3rd Ave, Spokane, WA for Sale
$3,980,000 USD
Freestanding - FOR SALE
1/9
null | 8% Cap Rate

1003 E 3rd Ave
Spokane, WA 99202


HIGHLIGHTS

  • 8% Cap Rate / Excellent High Visibility Location / 150 ft. Height limit for Redevelopment

OVERVIEW

Linc Properties is pleased to present the sale offering for the Office Depot property in Spokane, Washington. This single tenant investment property is prominently located along Interstate 90 at the gateway to the thriving University District area of Downtown Spokane. The large site is currently leased to Office Depot and offers excellent passive cash flow. The savvy investor will quickly realize that the property also benefits from the very rare 150 foot height General Commercial zoning within an Opportunity Zone all designed to encourage a future high impact development plan. This outstanding investment/redevelopment opportunity is a unique “covered land” acquisition that provides the long term investor or developer strong returns and many potential avenues to realize outstanding future gains through leasing or redevelopment

FOR SALE DETAILS

PRICE

$3,980,000 USD

PRICE/SF

$175 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Office Depot

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

2.18 AC

LAND SF

95,048 SF

ZONING

GC

APN/PARCEL ID

35201.3922

ASK ABOUT THIS PROPERTY

Brian LeibsohnLinc PropertiesMore Info
425-455-3131

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Brian LeibsohnLinc PropertiesMore Info
425-455-3131

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.