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12322 N Ruby Rd 15,066 SF Office Building Spokane, WA 99218 $5,889,753 CAD ($390.93 CAD/SF) 5.50% 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
This offering presents a fully stabilized memory care facility located at 12420 & 12322 N. Ruby in Spokane, Washington. The property consists of two buildings totaling 15,066 square feet on 1.38 acres, with a capacity of 40 beds and dedicated parking for 18 vehicles. The asset is 100% occupied by a long-term tenant under a pure net lease, ensuring minimal landlord responsibilities and predictable cash flow. Current tenant is in the 4th year of the first of 2 five-year options.
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) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
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
2000
Price
$5,889,753 CAD
Price Per SF
$390.93 CAD
Cap Rate
5.50%
NOI
$323,936 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 Number | 36082.0141 | Total Assessment | $1,710,028 CAD |
| Land Assessment | $272,363 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,437,665 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
36082.0141
Land Assessment
$272,363 CAD
Improvements Assessment
$1,437,665 CAD
Total Assessment
$1,710,028 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Presented by
The Green Ridge Fund, Inc.
12322 N Ruby Rd
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