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Commercial Sale For Sale

For Sale
$ 849,000
$113 / Sqft
706 1st St, Cheney, Washington 99004
0 Bed
0 Bath
Built Year 1954
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Additional Details

Property Type : Commercial Sale
Listing Type : For Sale
Listing ID : SAR202220434
Price : $849,000
Square Footage : 7,500 Sqft
Year Built : 1954
Lot Size : 0.21 Acre
Property Sub Type: Commercial
Standard Status : Active

Location & Address

Country : US
State : WA
County : Spokane
City : Cheney
Zipcode : 99004
Street : 1st
Street Number : 706
Street Suffix : St
Floor Number : 0
Longitude : W118° 25' 34.8''
Latitude : N47° 29' 21.2''


2021 CAP is 5.2%. A rare investment opportunity. Current NI is 3.8% by leasing 2700 sq.ft apartment only, with leasing the main floor that is 4800 sq ft., you are looking for NI around 8-10%. The total estimated income:$3000 -main floor and $3600 is a current income for the 2nd floor apartment, great income producing property. It is unique combination of completely renovated Apartment (6 bdr/3bth, approx.2700 sq.ft.) rented by room with a great rental income and Commercial Storefront/Retail/Office below in a prime location, 3 blocks from EWU and downtown. The showroom on the main floor has an open floor plan, approx. 4800 sq. ft, loading dock, 12+parking stalls and street parking will make these properties highly desirable among the growing population of more than 12,000 EWU students and closeness to the EWU campus, rapidly growing West Plains with Amazon fulfillment center, Medical Lake, golf courses and lakes, Fairchild AFB. Great owner user or investment opportunity.


Heating System: Central, Baseboard, Forced Air, Electric, Gas Hot Air Furnace
Roof Deck: Flat
Parking: 12
Garage Spaces : 4


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