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514 S Washington St
Spokane, WA 99204

Spokane Area Commercial

  • 11,250 Sqft
  • 0.26 Acre

$2,000,000

1 Day on market

MLS# 202625029

Listing courtesy of Spokane Association of REALTORS MLS as distributed by MLS GRID.

Rare opportunity to acquire a single-tenant medical investment located on Spokane’s South Hill in the heart of the medical district, with close proximity to two of the region’s largest hospitals. The property is leased to Hanger Clinic Inc., a nationally recognized leader in prosthetic and orthotic care with more than 925 locations nationwide and backed by a corporate guaranty. The investment features 14 dedicated parking stalls, 2.5% annual rent increases, and two additional three-year lease options, providing potential lease term through 2035. The property is offered at $2,000,000 and features a 3,969 SF building originally constructed in 1939 and updated in 2007. The property generates an NOI of $110,944, representing a 5.55% cap rate.

Bedrooms: 0
Bathrooms: 0
SqFt: 11,250
County: Spokane
Year Built: 1939
New Construction:
Lot SqFt: 11,326
Basement
  • None
Heating / Cooling
  • Electric
  • Forced Air
Terms
  • Conventional
  • Cash
  • Commercial
Features
  • Hndicap Ac
Roof
  • Flat

Office Details
LT Real Estate  —  509-481-0373

Broker Reciprocity MLS Disclaimer: Copyright of the Spokane Association of REALTORS MLS. All rights reserved. Listing information deemed reliable but not guaranteed.

IDX listing information is provided exclusively for consumers’ personal, noncommercial use. All other uses are strictly prohibited. The listing information displayed herein is based on information submitted to the MLS GRID as of 9/30/2026, 11:45 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.