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1311-1318 W 1st Ave 15,200 SF 100% Leased Retail Building Spokane, WA 99201 $3,950,000 ($259.87/SF) 7% Cap Rate
EXECUTIVE SUMMARY
Sale with Leaseback Investment. Nestled in Spokane’s revitalized West End, the Brick West Building at 1318 W 1st Ave is a remarkable fusion of historic charm and modern functionality. Originally constructed in 1917 as the Watts Automotive building, this 15,200 sq ft structure retains its original trusses and expansive open floor plan, offering a unique blend of industrial heritage and contemporary design. Complete remodel in 2019. 100% leased with anchor tenant Brick West Brewing Co on a 10 year lease.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$280,800
|
$18.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$280,800
|
$18.47
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$4,300
|
$0.28
|
| Net Operating Income |
$276,500
|
$18.19
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $280,800 |
| Annual Per SF | $18.47 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $280,800 |
| Annual Per SF | $18.47 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $4,300 |
| Annual Per SF | $0.28 |
| Net Operating Income | |
|---|---|
| Annual | $276,500 |
| Annual Per SF | $18.19 |
PROPERTY FACTS Under Contract
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
15,200 SF
Building Class
B
Year Built/Renovated
1917/2019
Price
$3,950,000
Price Per SF
$259.87
Cap Rate
7%
NOI
$276,500
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
1.00
Lot Size
0.35 AC
Opportunity Zone
Yes
Zoning
DTG
Frontage
AMENITIES
- Bus Line
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- BBQ
- -
- 3,200 SF
- $15.00
- Triple Net
- Jan 2030
- Brick West Brewing Co
- Accommodation and Food Services
- 10,000 SF
- $19.00
- Triple Net
- Jan 2030
- Studio One
- Services
- 2,000 SF
- $20.00
- Modified Gross
- Apr 2030
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| BBQ | - | 3,200 SF | $15.00 | Triple Net | Jan 2030 | |
| Brick West Brewing Co | Accommodation and Food Services | 10,000 SF | $19.00 | Triple Net | Jan 2030 | |
| Studio One | Services | 2,000 SF | $20.00 | Modified Gross | Apr 2030 |
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (82)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 35192.0112 | Improvements Assessment | $992,800 (2025) |
| Land Assessment | $806,000 (2025) | Total Assessment | $1,798,800 (2025) |
PROPERTY TAXES
Parcel Number
35192.0112
Land Assessment
$806,000 (2025)
Improvements Assessment
$992,800 (2025)
Total Assessment
$1,798,800 (2025)
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1311-1318 W 1st Ave
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