The Metropole | 176-178 S Howard St
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The Metropole 176-178 S Howard St
21,444 SF 95% Leased Retail Building Spokane, WA 99201 £1,917,003 (£89/SF) 8.39% Net Initial Yield
Investment Highlights
- DOWNTOWN LOCATION: Situated in the heart of Spokane's bustling downtown, this property offers access to shopping, entertainment, and major employers.
- CLASSIC RENOVATED BUILDING: The Metropole is a classic brick building built in the early 1900s and featuring completely updated systems.
- STRONG MIXED-USE POTENTIAL: With a combination of residential and commercial space, the property benefits from multiple revenue streams.
- DYNAMIC SPOKANE MARKET: Spokane's real estate market has seen significant growth in recent years, driven by an influx of new residents and businesses.
Executive Summary
This classic 1901 brick building features 16 residential units and 4 commercial spaces. The residential component consists of mostly 1-bedroom, 1-bathroom units averaging 560 SF. The commercial spaces, averaging 1,233 SF, are fully leased to established, long-term tenants, ensuring consistent and reliable cash flow.
The Metropole is situated in the heart of downtown Spokane, providing unparalleled access to the city’s vibrant shopping, dining, and entertainment districts, as well as major employment hubs. Its proximity to Spokane Riverfront Park further enhances the property's appeal,
offering tenants a dynamic urban lifestyle that attracts both residential and commercial occupants.
Built in 1901, The Metropole retains its historic charm with architectural details such as an ornate entrance and intricate wood staircase, while benefiting from modern system upgrades including HVAC, electrical, and other upgrades. This unique blend of vintage character and contemporary amenities offers tenants an exceptional living and working environment, further enhancing tenant
The Metropole is situated in the heart of downtown Spokane, providing unparalleled access to the city’s vibrant shopping, dining, and entertainment districts, as well as major employment hubs. Its proximity to Spokane Riverfront Park further enhances the property's appeal,
offering tenants a dynamic urban lifestyle that attracts both residential and commercial occupants.
Built in 1901, The Metropole retains its historic charm with architectural details such as an ornate entrance and intricate wood staircase, while benefiting from modern system upgrades including HVAC, electrical, and other upgrades. This unique blend of vintage character and contemporary amenities offers tenants an exceptional living and working environment, further enhancing tenant
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
21,444 SF
Building Class
B
Year Built/Renovated
1901/1984
Price
£1,917,003
Price Per SF
£89
Net Initial Yield
8.39%
NOI
£160,837
Percent Leased
95%
Tenancy
Multiple
Number of Floors
3
Building FAR
4.10
Land Acres
0.12 AC
Opportunity Zone
Yes
Zoning
DTG
Parking
50 Spaces (2.33 Spaces per 1,000 SF Leased)
Frontage
71 ft on S Howard St
Walk Score ®
Walker's Paradise (97)
Transit Score ®
Excellent Transit (72)
Bike Score ®
Very Bikeable (81)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 35191.2603 | Total Assessment | £1,832,962 |
| Land Assessment | £121,929 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £1,711,034 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
35191.2603
Land Assessment
£121,929
Improvements Assessment
£1,711,034
Total Assessment
£1,832,962
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
-
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The Metropole | 176-178 S Howard St
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