Spokane, WA
Commercial Real Estate Market Trends & Data

$199 Avg asking sale price
$21,006 Avg asking lease rate
32,766 SF Avg unit lease size
23,233 SF Avg building size for sale
6.73% Average cap rate

Spokane's Demographic Profile

Spokane has 98,568 households and a median income of $59,684, providing context for rent absorption and tenant demand across retail and multifamily assets. A +6% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 237,026
# Households 98,568
Median age 38
Median household income $59,684
Avg household size 2.0
Renter-occupied housing units 44,171
5-year population change +6%

{{marketTabHeadings[activeMarketTab]}} Market Metrics Near Spokane, WA

↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Spokane $182 13,021 SF 10.22%
Spokane Valley $172 23,524 SF 8.65%
Nearby Industrial Markets Avg Cost/SF Typical Size Cap Max
Spokane $157 14,907 SF 8.07%
Millwood $358 12,792 SF 6.06%
Spokane Valley $168 18,463 SF 7.83%
Airway Heights $137 10,837 SF 6.46%
Nearby Retail Markets Avg Cost/SF Typical Size
Spokane $189 42,153 SF
Millwood $227 10,039 SF
Spokane Valley $230 76,287 SF
Airway Heights $76 46,046 SF
Veradale $179 228,759 SF
Nearby Multifamily Markets Avg Cost/SF Typical Size Cap Max
Spokane $219 16,449 SF 7.79%
Spokane Valley $290 24,678 SF 7.15%
Cheney $170 14,116 SF 6.60%

Commercial Properties For Sale in Spokane

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

Redwood Plaza

Spokane Valley, WA 99206

  • 108,000 SF Office Building
  • 8.65% Cap Rate
  • $12,950,000
For Sale

Division & Ruby Retail Assemblage

Spokane, WA

  • Lots
  • $880,000
For Sale

Fast Lane

Airway Heights, WA 99001

  • 27,272 SF Industrial Building
  • 6.46% Cap Rate
  • $3,200,000
For Sale

3025 Mission ave

Spokane, WA 99202

  • 9,135 SF Retail Building
  • $1,100,000
For Sale

103 E Lincoln Rd

Spokane, WA 99208

  • 5,014 SF Retail Building
  • 6.47% Cap Rate
  • $1,600,000
For Sale

9629 N Colfax Rd

Spokane, WA 99218

  • 2,948 SF Office Building
  • $895,000

Average Price For Sale

↻ Updated Monthly

Average Price For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Spokane pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Spokane $199 23,233 SF
Millwood $173 7,525 SF
Spokane Valley $224 35,157 SF
Airway Heights $128 15,866 SF

Multifamily Properties For Sale in Spokane

For Sale

Avenue 1

Spokane, WA 99201

  • 4,338 SF Multifamily
  • $499,000

Regional Demographic Comparison

This comparison places Spokane alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Spokane or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Spokane 237,026 98,568 38 $59,684 2 44,171 6%
Millwood 1,907 778 42 $63,841 3 222 5%
Spokane Valley 139,513 55,425 40 $67,970 2 20,808 7%
Airway Heights 10,253 3,082 36 $56,719 3 1,679 8%
Four Lakes 462 173 42 $73,695 3 26 3%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Spokane, WA and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Spokane

View All Commercial Real Estate For Sale in Spokane
Is Spokane a good market for a first-time commercial real estate investor?

Spokane offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Spokane?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Spokane. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Spokane?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Spokane. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Spokane compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Spokane. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Spokane acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Spokane, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

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