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706 1st St

Cheney, WA 99004
  • $790,000
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: 202125099
UPDATED: 46 min ago
$790,000
  • 0
    BEDS
  • 0.21
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,500
    SQFT
  • $105
    $/SQFT
Neighborhood:
Type:
Commercial-Lease
Built:
1954
County:
Area:

School Ratings & Info

School District:

Description

A rare investment opportunity. CAP is 5.2 % for 2021. Great income producing property with a huge potential. 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%. It is a 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. Ask your agent to provide the flyer with more info.

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© 2021 of Spokane Association of REALTORS­® MLS. All rights reserved. Listing information courtesy of Spokane Association of REALTORS­® MLS. IDX data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the SARMLS. Data last updated 2021-12-03T16:20:36.863.
www.allspokanehomes.com/homes/123278652
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706 1st St Cheney, WA 99004

  • Price: $790,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 46 min ago
  • ID#: 202125099
0
Beds
0
Baths
0
½ Baths
0.21
Acres
7,500
SQFT
$105
$/SQFT
1954
Built
Neighborhood:
A420/097
County:
Spokane
Area:
A420/097
School District:
Cheney
Property Description
A rare investment opportunity. CAP is 5.2 % for 2021. Great income producing property with a huge potential. 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%. It is a 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. Ask your agent to provide the flyer with more info.
Exterior Features

Access Public Road Drive In Doors 1 Exterior Block Garage Size 4+ Loading Dock 1 Roof Flat

Interior Features

Basement No Basement

Property Features

Business Opportunity Yes Heat Cooling GasElecForced AirBasebdCent A/C Lease Yes Number Of Onsite Parking 10 Real Property Yes Site Improvements Gas Avail-StPublic SewerPublic WaterSee Remarks Terms CashCommercial Year Remodeled 2018

Listing provided courtesy of M J Mcadams Realty.
© 2021 of Spokane Association of REALTORS­® MLS. All rights reserved. Listing information courtesy of Spokane Association of REALTORS­® MLS. IDX data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the SARMLS. Data last updated 2021-12-03T16:20:36.863.
 
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Synergy Properties
706 W. Garland Avenue
Spokane WA, 99205