115 E Pacific Ave & 112 E 1st Ave 2 Office Properties in Spokane, WA

Visit https://bracketre.com/listing/8b42a432-e95a-4080-9f7b-296ca5fd3d4f to access Due Diligence.
Two-building, full-block offering in Spokane’s fast-growing University District, minutes from Downtown and situated within multiple public-sector incentive zones, including an Opportunity Zone (OZ), the Multifamily Tax Exemption (MFTE) area, and a Community Empowerment Zone (CEZ).
The portfolio totals approximately 42,098 SF across:
115 E Pacific Ave — ±26,612 SF
112 E 1st Ave — ±15,486 SF
The sites offer 104 striped parking stalls, flexible GC-150 zoning, and benefit from a waived parking requirement — a rarity for urban development opportunities of this scale.
Current tenancy provides predictable income while a buyer pursues redevelopment or value-add leasing strategies.
With strong anchors including Gonzaga University, WSU Spokane Health Sciences campus, and Spokane’s expanding medical district, the location supports student housing, multifamily, medical/behavioral health, and adaptive reuse concepts, in addition to continued institutional or community use.
This is a unique covered-land opportunity in one of the fastest-developing innovation, healthcare, and academic submarkets in Washington State.
GC-150 zoning — flexible uses including MF, student housing, medical, mixed-use
Parking requirement waived — major development advantage
Opportunity Zone (OZ) designation
Multifamily Tax Exemption (MFTE) eligible — potential property tax exemption on improvements
Community Empowerment Zone (CEZ) — incentives for investment & job creation
Steps from Spokane University District — 10,000+ daily campus population
Near Gonzaga University & WSU Spokane Health Sciences
Adjacent to Providence & MultiCare healthcare ecosystems
Surrounded by new multifamily, student housing, and mixed-use development
Walkable, bikeable urban district with growing retail & innovation uses
Minutes to Downtown Spokane and Spokane Convention Center
Transit-served corridor with improving civic infrastructure
Strong surrounding growth: new student housing, medical expansion, retail, and urban renewal activity
High-growth University District corridor with dual university + health system demand drivers
Visit https://bracketre.com/listing/8b42a432-e95a-4080-9f7b-296ca5fd3d4f to access Due Diligence.