4010-4104 Main AveSpokane, WA 99202

For Sale
$10,538,000

High-demand flex/warehouse portfolio.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 102,331 square foot industrial park in Spokane, WA, presents a compelling investment opportunity. Comprising eight buildings on 7.93 acres at 4010-4104 E. Main Avenue, 99202, this multi-tenant property boasts 100% occupancy with six tenants, including a recently signed 4-year lease with Jeld-Wen (NYSE: JELD). Built in 1966 and extensively renovated in 2023, the property features high-quality construction, desirable industrial features such as overhead doors, high ceilings, and ample laydown yard space, and offers excellent access with five points of ingress/egress. The property also includes approximately 1.5 acres of additional land with potential rail access. The park benefits from its strategic location, one block from I-90 on-ramps (121,000 cars daily) and just 10 miles from Spokane International Airport (GEG). With a 7.37% cap rate and a Net Operating Income (NOI) of $776,936, this fee-simple offering presents a strong return on investment in a thriving Spokane market experiencing significant growth. The Spokane-Coeur d'Alene corridor boasts a population exceeding 781,000 and a labor force of over 263,000, making this a prime location for industrial development. The asking price is $10,538,000. APN: 35154.4805, 35154.3911, 35154.3912, 35154.3809, 35154.3810, 35154.4704, 35154.4911, 35154.5001.

Highlights

  • High-quality construction with recent renovations and capital improvements, priced below replacement cost.
  • Features include overhead doors, commercial entrances, high ceilings, laydown yard space, and five points of ingress/egress.
  • Includes approximately 1.5 acres of additional land with ingress/egress and potential rail access.
  • Jeld-Wen (NYSE: JELD) recently signed a four-year lease and completed tenant improvements.
  • Located in a high-demand, low-vacancy Spokane industrial submarket with rents up 13.5% in three years.
  • Excellent location with I-90 on-ramps one block away and proximity to Spokane International Airport (GEG).

Property Details for 4010-4104 Main Ave

Property type
Other warehouses, Other industrial properties
Square Feet
102,331 SF
Year Built/Renovated
1966/2023
Buildings
8
Stories
1
Lot Size (sq. ft)
345,431 SF
Units
6

Location Insight

City
Spokane
County
Spokane
State
Washington
Latitude
47.659106417948
Longitude
-117.35136397818
4010-4104 Main Ave, Spokane, Washington

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