5615 Sunset HwySpokane, WA 99224

Property Details for 5615 Sunset Hwy

Year built

1993

Lot size

6.67 AC

Property size (Sq ft)

1,316 SF

Property type

Retail properties

Property subtype

Banks

APN

25272.9167

APU

252729167

Description

This exceptional 57,750-square-foot executive office building, located at 5615 W Sunset Hwy in Spokane, Washington, presents a compelling investment opportunity. Built in 1993, this single-story, steel-frame building with an EIFS exterior sits on a substantial 6.67-acre lot (approximately 290,454 square feet) and boasts 321 parking stalls (a ratio of 6.6 per 1,000 square feet). Currently 100% occupied under a triple-net (NNN) lease with a single tenant, the property offers a strong 7.5% cap rate and an asking price of $9,250,000 ($160.17 per square foot). The lease features a remaining term of 2.9 years (expiring June 29, 2025), with two 5-year lease options, each including 3.0% escalations, and 3.0% annual increases. The current monthly rent is $56,161.88 ($11.67 per square foot). This property represents a stable, high-performing investment in a desirable Spokane location. The building's size, ample parking, and strong lease terms make it an attractive asset for discerning investors. The location in Spokane County, WA, zip code 99224, offers excellent access to major transportation routes and amenities.

• CAP approach

  CAP return

  Valuation

  6%

  $394,191

  6.5%

  $363,869

  7%

  $337,878

• Comparable approach

  Method

  Valuation

  Relative Method

  $707,073

  Geo Method

  $707,073

• Alternative Use

  Use

  Valuation

  Residential

  $306,937

  Hospitality

  $281,152

  Educational

  $233,916

  Medical

  $241,960

  Retail

  $363,869

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6418

Longitude

-117.492

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@pro-teqsurfacing.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@pro-teqsurfacing.com.