INVESTMENT HIGHLIGHTS
RARE DRIVE-THRU RETAIL CENTER
The Property is anchored by Cole’s Bakery. Cole’s Bakery is currently paying rent well below market at $12.13/SF + NNN providing a future Landlord with upside once they extend their lease at Fair Market Value in 2026.
LOW AVERAGE RENT
The property’s average rent is $12.37/SF + NNN with market rents achievable in the $16-20/SF + NNN range providing upside potential in the future.
PRICED WELL BELOW REPLACEMENT COST
The Property is priced at roughly $250/SF of building which is significantly less than the cost to build a similar building in Spokane in today’s development climate.
LOCATED LESS THAN 1 MILE FROM PROPOSED DEVELOPMENT
The Property is located less than 1 mile from a proposed mixed-use development, which will add approximately 1,400 residences to the immediate area.
RAPIDLY GROWING SPOKANE MARKET
The Property benefits from 12.39% population growth within a 3-mile radius in the last 10 years.
EXCELLENT RETAIL LOCATION TUCKED BETWEEN NEWPORT HWY AND NEVADA ST WITH OVER 50,000 VPD
The Property is located between Newport Hwy (Hwy 2) and Nevada St. with excellent visibility and exposure to over 50,000 VPD.
HIGH BARRIERS TO ENTRY FOR NEW RETAIL DEVELOPMENT
North Spokane is extremely dense with existing developments and there is very little available land to develop new retail.
AFFLUENT DEMOGRAPHICS
Average household income within a 3-mile radius of the Subject Property is $72,641.
INCOME TAX FREE STATE
Washington State is an income Tax-Free State.
Listing Agents:
CLAYTON J. BROWN
