Full City Block in Spokane University District with OZ, MFTE & CEZ Incentives + Income in Place

Two-building, full-block offering in Spokane’s fast-growing University District, minutes from Downtown and situated within multiple public-sector incentive zones, including an Opportunity Zone (OZ), the Multifamily Tax Exemption (MFTE) area, and a Community Empowerment Zone (CEZ).

The portfolio totals approximately 42,098 SF across:

115 E Pacific Ave — ±26,612 SF

112 E 1st Ave — ±15,486 SF

The sites offer 104 striped parking stalls, flexible GC-150 zoning, and benefit from a waived parking requirement — a rarity for urban development opportunities of this scale.

Current tenancy provides predictable income while a buyer pursues redevelopment or value-add leasing strategies.

With strong anchors including Gonzaga University, WSU Spokane Health Sciences campus, and Spokane’s expanding medical district, the location supports student housing, multifamily, medical/behavioral health, and adaptive reuse concepts, in addition to continued institutional or community use.

This is a unique covered-land opportunity in one of the fastest-developing innovation, healthcare, and academic submarkets in Washington State.