414 N Sycamore
Fully leased industrial office and warehouse property totaling 26,143 SF in Spokane, Washington, offered at $1,850,000 at a 6.38% cap rate. The single-tenant asset is leased to Valley Ford Metal Crafters on a triple-net basis through January 31, 2028, generating $9,839 monthly through 2027 and $10,134 monthly thereafter, with one five-year renewal option at 3% annual escalations.
The property comprises two buildings on a 37,500 SF site zoned Heavy Industrial. The south building features wood-frame construction with concrete block and siding; the north building is steel-frame with metal siding. Combined, they offer 747 SF of office space and 25,396 SF of warehouse area with variable ceiling heights from 12 to 31 feet 2 inches. The warehouse includes seven grade-level overhead doors and one dock-high loading door, supported by 400-amp 240-volt three-phase power. Heating is provided by forced-air in the office, gas unit heaters in the north warehouse, and radiant gas heat in the southeast warehouse. Both city sewer and water are available (connection record dated March 29, 1957).
Located just east of Freya on N. Sycamore Street, the property sits minutes from Interstate 90 and Spokane's Central Business District, with convenient access to public transportation, railroad, commuter rail, freight port, and airport. The buildings were constructed between 1950 and 1952 and remain in ready-to-use condition. Adjacent leased industrial properties are also available for purchase, offering potential for portfolio expansion.
- Fully leased to Valley Ford Metal Crafters through January 31, 2028 with one five-year renewal option
- Triple-net lease with 3% annual escalations during renewal period
- Seven grade-level loading doors plus one dock-high door; variable clearance to 31'2"
- Strategic Heavy Industrial location minutes from I-90 and downtown Spokane
- Two-building portfolio with neighboring properties available for acquisition
More property details
Features & amenities
Location
This investment opportunity features a fully leased industrial office and warehouse property totaling 26,143 square feet at 414 N. Sycamore Street, Spokane, Washington. Situated on an approximately 37,500-square-foot site, the property enjoys a strategic location just minutes from Interstate 90 and Spokane's Central Business District. The building includes warehouse and office space, multiple loading doors with both dock-high and grade-level access, and quality construction features such as steel-frame construction and forced-air heating. The property is leased to Valley Ford Metal Crafters through January 31, 2028, generating $9,839 per month on a NNN basis with annual rent escalations, providing a stable and secure income stream. The lease also includes one five-year renewal option. Additionally, the owners are offering adjacent leased industrial properties for sale, creating the potential for a larger investment opportunity.
- Great central location just east of Freya within minutes to I-90, Spokane's Central Business District and Spokane Valley.
Additional details
All information herein is furnished by the owner and believed to be complete and correct. The Agent, however, cannot be responsible for changes, errors, omissions or withdrawals of this offering without notice. The above information is from sources deemed reliable but should be verified by parties that could be adversely affected by any statements or information. This is not an offering of sub-agency, with commission splits to be determined.