The Spokane office market opens 2026 with 7.6% vacancy — less than half the 19% U.S. national average — but the headline obscures a sharply bifurcated market: South Hill at 2.6%, Spokane Valley at 7.4%, West Plains at 5.8%, and the Spokane CBD at 11.3%. Asking rents average $21.52/SF, stabilized investment cap rates trade at 6.4%–7.5%, and 12-month sales volume totaled $65.1M across 45 transactions.
Coeur d’Alene retail vacancy stands at 1.6% in Q1 2026, with asking rents averaging $18.30 per square foot — among the tightest retail markets in the Pacific Northwest. Market cap rates average 7.9%, trailing-12-month sales volume reached $18.4 million, and just 16,000 SF is under construction across the 11.6 million SF market.
When investors evaluate a commercial property, they tend to focus on the usual suspects: rental income, cap rates, loan terms, and expense ratios. But one…