Spokane WA 99202
Details
- $0
- Industrial , Retail
- Size: 14,258 Sq Ft.
- Lot Size: 20,200 Sq Ft.
- Date Available: 02/23/2021
- Year Built: 1946
- Commercial
U-District Redevelopment
Listed by Jon Legault
509-850-0384
Cantu Commercial Properties
Offering Highlights
► Prime U-Distict location
► Strong masonry structure with 16’ Clear Heights
► General Commercial zoning allows for a variety of uses
► Federal and local incentives available for developers
THE OPPORTUNITY
The masonry building is located in the South University District subarea of Spokane’s growing University District
and presents a unique redevelopment or repurposing opportunity. The building has functioned as a variety of retail,
office and industrial uses. Its current Highest and Best use is to be determined by the buyer, but the opportunities
are numerous. The building has the potential for development as office, restaurant, retail, or university use. The roof
has been updated with a new membrane within the last few years, and the 16’ clear height could benefit a variety of
uses.
The area surrounding the subject property is undergoing dramatic change with several significant revitalization and
development projects recently completed or currently ongoing. The University District Gateway Bridge serves to
connect the urban campuses of six higher education institutions and their 11,000+ students on the north side of the
BNSF railroad tracks to the South University District subarea (in which the subject property is located). The bridge is
considered vital to future renovation or redevelopment in this area.
The beneficial link created by the Gateway Bridge is evidenced by the six-story, +- 140,000-sf structure named the
“Catalyst Project” on five acres of land near the subject property. In early February 2018, Eastern Washington University
announced that it will move into a large portion of the Catalyst Project. Additionally, a mixed-use 7-story retail
and apartment building named the Boxcar Apartments is currently under construction to the immediate northwest
of the subject property; and Washington State University has announced a plan to move the Steve Gleason Institute
of Neuroscience to the immediate west.
** Call Agent for Details **
