A physician has bought a 1.25-acre lot on Spokane's North Side and plans to develop a medical office building there when the economy improves, says the real estate broker who handled the transaction.

The broker, Guy Byrd, of Cornerstone Property Advisors LLC, declines to disclose the identity of the buyer of the lot, located at 6930 N. Nevada, and says he can't say what size building his client envisions there. An architect and a contractor haven't been selected for the project yet, he says.

The lot is the northernmost of three adjacent 1.25acre parcels, just north of the Lyons Park Car Wash Plaza, which was developed last year at 6804 N. Nevada by John Hansen and Barbara Chisholm, both of Spokane.

County records show the lot sold for $492,000. The other two lots also are for sale, Cornerstone's Web site says. All three of the vacant lots are zoned for office use, and they're being marketed as Nevada Towers Office Park, Byrd says.

Byrd also is the leasing agent for the nearby six-suite, 11,000-square-foot Nevada Towers Retail Center that Don and JoAnn Mattson, of Spokane, are developing at the northeast corner of Nevada Street and Lyons Avenue, just south of the car wash. That retail center is just north across Lyons from the Albertson's Inc. supermarket that opened six years ago.