Log In/Sign Up
Your email has been sent.
12322 N Ruby Rd 15,066 SF Office Building Spokane, WA 99218 $6,056,507 CAD ($402.00 CAD/SF) 6.04% Cap Rate
Investment Highlights
- Fully occupied memory care facility with 40-bed capacity and long-term tenant in place
- Located on 1.38 acres with dedicated parking and efficient layout
- Strong investment fundamentals with a 5.5% cap rate and NOI of $229,930
Executive Summary
State Certified Alzheimer’s care facility established 15-year Tenant and 100% occupied. This property is offered currently at a 6% cap rate. The project offers a total of 15,066 sq ft consisting of 4 separate wings, each wing has 10 beds (9 rooms), kitchen, laundry, ADA bathrooms, office area, common area with fireplace and television, and a dining area. One wing has had a kitchen remodel to provide a “commercial” kitchen for food prep for the entire facility. The tenant is currently paying $17.41 sf NNN rent with an increase scheduled in 3/2027 to $17.93. The tenant has one 5-year option remaining at market rent to be negotiated at the time of option. Please contact agent for additional information.
This is an exceptional opportunity for investors seeking a reliable, income-producing healthcare asset with long-term upside in a growing market.
This is an exceptional opportunity for investors seeking a reliable, income-producing healthcare asset with long-term upside in a growing market.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$369,446
|
$24.52
|
| Other Income |
$67,365
|
$4.47
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$436,811
|
$28.99
|
| Taxes |
$38,731
|
$2.57
|
| Operating Expenses |
$14,275
|
$0.95
|
| Total Expenses |
$53,006
|
$3.52
|
| Net Operating Income |
$383,805
|
$25.47
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $369,446 |
| Annual Per SF | $24.52 |
| Other Income (CAD) | |
|---|---|
| Annual | $67,365 |
| Annual Per SF | $4.47 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $436,811 |
| Annual Per SF | $28.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $38,731 |
| Annual Per SF | $2.57 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $14,275 |
| Annual Per SF | $0.95 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $53,006 |
| Annual Per SF | $3.52 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $383,805 |
| Annual Per SF | $25.47 |
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
15,066 SF
Building Class
B
Year Built
1999
Price
$6,056,507 CAD
Price Per SF
$402.00 CAD
Cap Rate
6.04%
NOI
$365,728 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
15,066 SF
Building FAR
0.53
Lot Size
0.65 AC
Zoning
MU
Parking
25 Spaces (1.66 Spaces per 1,000 SF Leased)
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Total Assessment | $3,632,200 CAD (2026) | |
| Land Assessment | $594,228 CAD (2026) | Annual Taxes | $38,731 CAD ($2.57 CAD/SF) |
| Improvements Assessment | $3,037,972 CAD (2026) | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$594,228 CAD (2026)
Improvements Assessment
$3,037,972 CAD (2026)
Total Assessment
$3,632,200 CAD (2026)
Annual Taxes
$38,731 CAD ($2.57 CAD/SF)
Tax Year
2025
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
The Green Ridge Fund, Inc.
12322 N Ruby Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.