5634 E Commerce Ave - Apartments FOR SALE


Spokane, WA 99212- Chief Garry Park
$750,000 USD
509-808-0066
5634 E Commerce Ave, Spokane, WA for Sale
$750,000 USD
Apartments - FOR SALE
1/13
null | 6.03% Cap Rate

5634 E Commerce Ave
Spokane, WA 99212
Chief Garry Park


OVERVIEW

Welcome to the Parkwater Schoolhouse— A historic 1913 brick landmark, just half a mile from Spokane’s iconic Felts Field. This two-story, 8,832 square foot building—plus a full unfinished basement—sits on nearly 25,000 square feet of corner lot frontage, with paved parking for approximately 25 vehicles. It includes a convenient dock with a loading door and is equipped with 3-phase 120/240 volt electrical service. Zoned GC-70, this versatile mixed-use commercial property offers a unique blend of residential and commercial space. Inside, you'll find 4 residential apartments, 2 professional offices, a lash salon, and 2 large commercial studios—one currently operating as a martial arts dojo. The Parkwater Schoolhouse has lived many lives—originally an elementary school, then a 1940s flight training academy serving nearby Felts Field, followed by decades as a nursing home. In the 1980s, it became a pioneering brewery and eventually a beloved winery and event venue, hosting tastings, gatherings, and community celebrations. Offered at $750,000, the Parkwater Schoolhouse is a rare opportunity to own a piece of Spokane’s past—with endless potential for its future.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$85 USD /SF

# OF UNITS

4

PRICE/UNIT

$187,500

CAP RATE

6.03%

% LEASED

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1913

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

GC-70

APN/PARCEL ID

35114.1701

ASK ABOUT THIS PROPERTY

Dominic DickersonBornhoft CommercialMore Info
509-808-0066

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Dominic DickersonBornhoft CommercialMore Info
509-808-0066

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