5903 N Division St - Storefront FOR SALE


Spokane, WA 99208- North Hill
$2,480,000 USD
206-584-6195
5903 N Division St, Spokane, WA for Sale
$2,480,000 USD
Storefront - FOR SALE
1/4
null | 7.22% Cap Rate

5903 N Division St
Spokane, WA 99208
North Hill


HIGHLIGHTS

  • HIGH VISIBILITY & STRONG FRONTAGE
  • STRONG CORPORATE TENANCY
  • PASSIVE NNN LEASES
  • STRONG DEMOGRAPHICS
  • EXCELLENT PARKING & ACCESSIBILITY
  • HIGH-GROWTH SUBMARKET & LOW VACANCY

OVERVIEW

Northmarq is pleased to present T-Mobile and Sleep Number, a 100% leased, two-tenant NNN retail investment totaling 4,802 SF and located along one of Spokane’s most heavily trafficked commercial corridors. The freestanding property offers strong Division Street visibility, modern systems, and ample surface parking, resulting in a passive ownership profile with minimal landlord responsibilities. The asset is comprised of two credit tenants, Sleep Number and T-Mobile, both operating under triple-net lease structures with annual rent increases. Sleep Number has recently executed a six-year lease extension, enhancing income durability and contributing to a weighted average lease term of approximately 4.6 years. Positioned along US-395/Division Street, Spokane’s primary north–south arterial, the property benefits from direct access to Downtown Spokane and the greater North Spokane trade area. 100% NNN leases, national credit tenancy, and a balanced lease rollover profile positions The Offering as an exceptional 1031 exchange opportunity for passive investment.

FOR SALE DETAILS

PRICE

$2,480,000 USD

PRICE/SF

$516 USD /SF

CAP RATE

7.22%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Freestanding, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2013

SPRINKLERS

-

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

GC

APN/PARCEL ID

36311.1606

ASK ABOUT THIS PROPERTY

RJ VaraNorthmarqMore Info
206-584-6195

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RJ VaraNorthmarqMore Info
206-584-6195

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.