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103 E Lincoln Rd 5,014 SF 100% Leased Retail Building Spokane, WA 99208 $1,600,000 ($319.11/SF) 6.47% Cap Rate
Executive Summary
This offering presents the opportunity to acquire a long-term, triple-net leased auto service property secured by Wilde Automotive Repair, featuring 18 years of firm lease term remaining with 15% rental increases every five years. The tenant operates from a recently renovated 5,014 SF facility (2025 capital improvements including new roof, drains, and drywells), minimizing near-term capital expenditure risk. Positioned just off the signalized corner of E Lincoln Rd and N Division St—one of Spokane’s primary retail corridors with over 43,552 vehicles per day—the asset benefits from exceptional visibility within a dominant national retail trade area shadow anchored by major big-box and lifestyle tenants. Supported by strong surrounding demographics, dense residential rooftops, and long-term lease structure, this property offers investors durable cash flow, attractive built-in income growth, and stable intrinsic real estate value in an established infill market.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,014 SF
Building Class
C
Year Built/Renovated
1986/2025
Price
$1,600,000
Price Per SF
$319.11
Cap Rate
6.47%
NOI
$103,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.30
Lot Size
0.39 AC
Zoning
GC
Parking
15 Spaces (2.99 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
Fairly walkable
50/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 36203.0116 | Improvements Assessment | $778,000 |
| Land Assessment | $220,000 | Total Assessment | $998,000 |
Property Taxes
Parcel Number
36203.0116
Land Assessment
$220,000
Improvements Assessment
$778,000
Total Assessment
$998,000
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