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7630 N Division St 69,625 SF 100% Leased Retail Building Spokane, WA 99208 $10,000,000 ($143.63/SF) 7.01% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Excellent location and visibility

EXECUTIVE SUMMARY

MAJOR PRICE CUT. $10,000,000. 7.0% CAP. Credit Tenant Investment property in Spokane, WA. Michael's Crafts and US Chef Store occupy 100%. 69,625 SF on 1.59 acres. Stable, long term income. Both are legacy tenants, over 25 years. Assumable debt ($5,050,000) at 3.74% with 10 years of term remaining.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
69,625 SF
Building Class
B
Year Built
1978
Price
$10,000,000
Price Per SF
$143.63
Cap Rate
7.01%
NOI
$701,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.71
Lot Size
2.26 AC
Zoning
GC - Retail
Parking
380 Spaces (5.46 Spaces per 1,000 SF Leased)
Frontage
305’ on N Division St

AMENITIES

  • Pylon Sign

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Wholesaler
  • -
  • -
  • -

Convenience, low prices, and easy shopping make CHEF’STORE the go-to food and kitchen supply warehouse for restaurants across the country. Their warehouse-format stores cater to the foodservice industry, but are also convenient one-stop-shops for home cooks as well. Customers choose CHEF’STORE to not only take advantage of a huge selection of competitively priced products, but because the service is second to none. They stand out from the competition thanks to their dedicated and helpful employees who prioritize customer service above all else.

  • Retailer
  • -
  • -
  • -

At The Michaels Companies Inc, their purpose is to fuel the joy of creativity. As the leading creative destination in North America, they operate stores throughout the United States and Canada and online at Michaels.com and Michaels.ca. The Michaels Companies, Inc. also owns Artistree, a manufacturer of custom and specialty framing merchandise, and MakerPlace by Michaels, a dedicated handmade goods marketplace.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Wholesaler - - -
Retailer - - -

NEARBY MAJOR RETAILERS

Grocery Outlet
Mountain West Bank
Washington Trust Bank
Texas Roadhouse
Golden Corral
Banner Bank
9Round
Dutch Bros
CrossFit
Jazzercise

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
36292.0016
Land Assessment
$1,120,000
Improvements Assessment
$7,696,700
Total Assessment
$8,816,700
  • Listing ID: 37821408

  • Date on Market: 9/25/2025

  • Last Updated:

  • Address: 7630 N Division St, Spokane, WA 99208

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