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208 W 5TH AVE Spokane WA 99204-2402

[Locked] • APN 35191.3717

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Details
Property Type Office, Retail
Sub Type Medical Office, QSR/Fast Food
Building SqFt 5,617
Lot SqFt 19,801
Acreage ******
Zoning Code OR
Year Built 1986
Building Count 2
Opportunity Zone Yes
Lease Type ******
Remaining Term ******
Lease Expiration ******
Tax Year ******
Tax Land ******
Days on Market ******
Owner Name INLAND EMPIRE OPTICAL LLC

Property History

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Property Type
Property Type
Office, Retail
Property Subtype
Medical Office, QSR/Fast Food
Investment Highlights
  • High-Caliber Operator – The portfolio is occupied by Spokane Eye Clinic, a 28-physician practice with over 70 years of operating history. Spokane Eye Clinic was acquired by PRISM Vision Group, a leading national ophthalmology platform with approximately 100 affiliated locations across six states and Washington, D.C. PRISM is approximately 80% owned by McKesson (Fitch: BBB+), following a transaction valued at $874 million at close in April 2025.

  • Immediate Scale Opportunity – The offering provides immediate scale through the acquisition of a four-property portfolio totaling approximately 72,000 square feet across the Spokane metropolitan area.

  • Passive Lease Structures – The portfolio features NNN leases designed to be largely passive, with landlord obligations limited to roof and structural capital expenditures, significantly reducing operating expense risk for investors.

  • Stellar Practice Performance – Spokane Eye Clinic supports over 146,000 annual patient visits and 13,000 surgical procedures, operated by 28 physicians and more than 350 staff across four clinic locations and a five-operating-room, state-of-the-art ambulatory surgery center. Practice financials show excellent operational performance with a very strong rent coverage ratio. Practice financials are available with with an executed NDA.

  • Hedge Against Inflation – The portfolio features 2.5% annual escalators across all four properties offering investors consistent revenue growth while also providing an excellent hedge against inflation

Loan History

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Financial History

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Tax History

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Contact Information

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Ownership Information

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Property Details

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There are no additional details for this property

Contacts

Listing removed on
 BY:
TS
Tyler Swade
•••.•••.9717
•••••.•wade@••••••••.com
Brokerage logo
Listing removed on
 BY:
MM
Michael Moreno PRO
•••.•••.4497
•••••••.••reno@••••••••.com
Brokerage logo
Listing removed on
 BY:
RC
Rahul Chhajed PRO
•••.•••.1106
•••••.•••ajed@••••••••.com
Brokerage logo

Map

Comparable Properties

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Rental Market Overview

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Spokane, WA median rent ********
***  ****** **** *** ******** ***
National median ********
Compare median rents across markets
Spokane, WA (this market)
Studio ******** 1 bed ******** 2 bed ********
Studio ******** 1 bed ******** 2 bed ********
Studio ******** 1 bed ******** 2 bed ********
Data provided byDwellsy IQ
*All information is deemed reliable but not guaranteed.
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