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Spokane - At a Glance
The Spokane Region is a progressive business evironment supported by a quality workforce and a
dynamic network of community organizations and business leaders commited to the economic vitality of the Inland Northwest
Park West Development
Project Summary:
Parkwest is an ideal investment opportunity located within Spokane County, located in the state of Washington. This property offers both investors and developers an ideal mix of land usages ranging from light industrial, retail, and class A office space. Other attractive uses of the land include recreational amenities including superior golfing and luxury hotel accommodations.
The property is strategically bound on the southern perimeter by State Highway 902/ Medical Lake Exit #272 and is located just west of Interstate 90 interchange. Parkwest is situated approximately 1.8 miles south of Airway Heights city limits and 2.25 miles northeast of Medical Lake city limits. The property is further situated approximately 1 mile from both Spokane International Airport and Fairchild Air Force Base.
Site Information
- Zoning: Light Industrial
- Land Site: 650 +/- Acres
- Traffic Counts: 19,999 to 24,999 Cars Per Day
- Water On Site
- Location: West Side of Freeway I - 90
- Frontage: Medical Lake Road
Sale Price:
Please call
Land Acquisition Financing:
- Financing Provider: Seller
- Down Payment: 20% down
- Loan Duration: 10 year balloon
- Payment: Interest only monthly
- Loan payback: Through refinance
Cost Project Dreakdown
Pleae call for pricing estimates
Site Acquisition $ 12,000,000
Closing Cost/Title Policy $ 500,000
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Subtotal Site Acquisition $ 12,500,000
Site Carry (Taxes) $ 70,000
Appraisal Report $ 50,000
Feasibility Report $ 48,000
Geotechnical Reports $ 82,000
Environmental Reports $ 105,600
Traffic/Drainage Reports $ 135,000
Construction Ins./ Bonds $ 270,000
Permits / Building Fees $ 246,000
Architectural / Engineering $ 975,000
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Subtotal Indirect Costs $ 1,981,600
Off-site Improvements $ 6,594,000
On-site Improvements $
Shell Construction $
Interior Build-out $
Signage and Monuments $ 250,000
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Subtotal Direct Costs $ 6,844,000
Legal and Accounting $ 254,000
Commissions $ 4,800,000
Inspection Fees $ 98,910
Marketing $ 550,000
Operating Expenses $ 345,289
Contingency $ 441,280
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Subtotal Other Costs $ 6,489,479
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Total Costs $ 27,815,079
Sales Scenarios:
Total Sales of estimated 600 lot @ $100K per acre equalls $60,000,000
or
Total Sales of estimated 600 lot @ 150K per acre equalls $90,000,000
Comparable Properties have sold @ $250K
2006 Demographics
1 Mile 10 Mile
Population 3,857 16,042
Median HH Income $35,388 $42,144
Average HH Income $44,014 $54,013
Neighboring Retailers
Zips Trip Burger King McDonald's
Pizza Hut Zack Design Napa
KFC / A & W Restaurant
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