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116 W Pacific Ave 37,125 SF 100% Leased Office Building Spokane, WA 99201 $6,324,816 CAD ($170.37 CAD/SF)
Executive Summary
The former Cold Storage Warehouse at 116 W Pacific Avenue is a striking, fully renovated historic asset in the heart of downtown Spokane. Originally constructed in 1911, this ±37,125 square foot mixed-use building has been thoughtfully transformed into a high-performing property featuring a first-floor event venue, two floors of creative office space, and secured underground parking.
The offering presents a rare opportunity to acquire a character-rich asset with immediate occupancy potential and in-place income. At closing, approximately two-thirds of the building can be made available for an owner-user, while the seller is open to a short-term sale-leaseback, providing near-term cash flow and flexibility during transition.
A dedicated surface parking lot further enhances functionality for both employees and clients, while providing additional income.
The offering presents a rare opportunity to acquire a character-rich asset with immediate occupancy potential and in-place income. At closing, approximately two-thirds of the building can be made available for an owner-user, while the seller is open to a short-term sale-leaseback, providing near-term cash flow and flexibility during transition.
A dedicated surface parking lot further enhances functionality for both employees and clients, while providing additional income.
Property Facts
Sale Type
Investment
Property Type
Building Size
37,125 SF
Building Class
B
Year Built/Renovated
1911/2016
Price
$6,324,816 CAD
Price Per SF
$170.37 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
12,375 SF
Building FAR
3.71
Lot Size
0.23 AC
Opportunity Zone
Yes
Zoning
DTG - Downtown General
Parking
8 Spaces (0.22 Spaces per 1,000 SF Leased)
Amenities
- Security System
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 35191.0304 | Improvements Assessment | $3,799,462 CAD |
| Land Assessment | $324,118 CAD | Total Assessment | $4,123,580 CAD |
Property Taxes
Parcel Number
35191.0304
Land Assessment
$324,118 CAD
Improvements Assessment
$3,799,462 CAD
Total Assessment
$4,123,580 CAD
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116 W Pacific Ave
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