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BakeMark Cold Storage & Distribution 4616 S Ben Franklin Ln 25,200 SF Industrial Building Spokane, WA 99224 $4,668,476 CAD ($185.26 CAD/SF) 6% Cap Rate
Investment Highlights
- Functional Design with Cold Storage
- Strong Credit Tenant
- High Barrier to Entry
- Recent Capital Improvements
- Significant Rental Upside
- Ample Loading and Access
Executive Summary
Northmarq is pleased to present the exclusive sale offering for BakeMark Cold Storage & Distribution, a 25,200 SF industrial facility situated on a 3.36-acre parcel in Spokane’s highly competitive West Plains submarket. The property’s functional design, cold storage capability, ample yard & trailer parking, and hydraulic dock levelers make it ideal for logistics and food distribution users.
Currently leased to BakeMark, a leading bakery ingredient distributor with 38 branches across the U.S. and Canada, the asset offers secure in-place income through April 2027. Upon expiration, investors can capitalize on a 70% jump to market rents, unlocking significant upside in a supply-constrained segment. In a submarket dominated by Class A developments, smaller freezer-equipped facilities remain scarce, creating a rare opportunity for investors seeking a well-located, adaptable industrial property.
Currently leased to BakeMark, a leading bakery ingredient distributor with 38 branches across the U.S. and Canada, the asset offers secure in-place income through April 2027. Upon expiration, investors can capitalize on a 70% jump to market rents, unlocking significant upside in a supply-constrained segment. In a submarket dominated by Class A developments, smaller freezer-equipped facilities remain scarce, creating a rare opportunity for investors seeking a well-located, adaptable industrial property.
Property Facts
| Price | $4,668,476 CAD | Rentable Building Area | 25,200 SF |
| Price Per SF | $185.26 CAD | No. Stories | 1 |
| Sale Type | Investment NNN | Year Built | 1985 |
| Cap Rate | 6% | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.99/1,000 SF |
| Property Subtype | Warehouse | Clear Ceiling Height | 21’ |
| Building Class | C | No. Dock-High Doors/Loading | 7 |
| Lot Size | 3.36 AC | No. Drive In / Grade-Level Doors | 1 |
| Zoning | Light Industrial (LI) - Light Industrial per Spokane County | ||
| Price | $4,668,476 CAD |
| Price Per SF | $185.26 CAD |
| Sale Type | Investment NNN |
| Cap Rate | 6% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 3.36 AC |
| Rentable Building Area | 25,200 SF |
| No. Stories | 1 |
| Year Built | 1985 |
| Tenancy | Single |
| Parking Ratio | 0.99/1,000 SF |
| Clear Ceiling Height | 21’ |
| No. Dock-High Doors/Loading | 7 |
| No. Drive In / Grade-Level Doors | 1 |
| Zoning | Light Industrial (LI) - Light Industrial per Spokane County |
Amenities
- Freezer (Space)
1 1
Property Taxes
| Parcel Number | 24041.0306 | Improvements Assessment | $1,650,850 CAD |
| Land Assessment | $600,258 CAD | Total Assessment | $2,251,108 CAD |
Property Taxes
Parcel Number
24041.0306
Land Assessment
$600,258 CAD
Improvements Assessment
$1,650,850 CAD
Total Assessment
$2,251,108 CAD
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BakeMark Cold Storage & Distribution | 4616 S Ben Franklin Ln
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