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5903 N Division St 4,802 SF 100% Leased Retail Building Spokane, WA 99208 $2,480,000 ($516.45/SF) 7.22% Cap Rate
Investment Highlights
- HIGH VISIBILITY & STRONG FRONTAGE
- PASSIVE NNN LEASES
- EXCELLENT PARKING & ACCESSIBILITY
- STRONG CORPORATE TENANCY
- STRONG DEMOGRAPHICS
- HIGH-GROWTH SUBMARKET & LOW VACANCY
Executive Summary
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.
Property Facts
Amenities
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Information
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Metro by T-Mobile began as General Wireless in 1994 before launching services in 2002. The company merged with T-Mobile US in 2013 and became a prepaid subsidiary under the T-Mobile network. Metro by T-Mobile targets budget-conscious consumers with affordable plans that include unlimited talk, text, and data. The company operates through physical stores only and offers value-added services like Amazon Prime subscriptions. Metro by T-Mobile uses T-Mobile's nationwide 5G infrastructure to provide wireless coverage.
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- Retailer
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At Sleep Number®, their purpose is to improve the health and wellbeing of society. They are committed to advancing sleep health; linking smart sleep to individualized wellness through innovation that is informed by data and scientific expertise. Sleep Number is a wellness technology company. They are guided by their purpose to improve the health and wellbeing of society through higher quality sleep; to date, their innovations have improved lives. Their wellness technology platform helps solve sleep problems, whether it’s providing individualized temperature control for each sleeper through their Climate360 smart bed or applying their hours of longitudinal sleep data and expertise to research with global institutions. Their smart bed ecosystem drives best-in-class engagement through dynamic, adjustable, and effortless sleep with personalized digital sleep and health insights; their millions of Smart Sleepers are loyal brand advocates.
- Spiked Wireless
- Retailer
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Information | - | - | - | ||
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Retailer | - | - | - | ||
| Spiked Wireless | Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 36311.1606 | Improvements Assessment | $1,238,200 |
| Land Assessment | $400,870 | Total Assessment | $1,639,070 |
Property Taxes
Presented by
5903 N Division St
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