Retail Storefront with
New
For Sale
Contact for pricing
10020 E Sprague Ave, Spokane Valley, WA 99206
One-level commercial space combines an open showroom with office and warehouse areas, pylon signage, and private parking.
Property Size8,462 SF
Lot Size0.76 Acres
Price / SF$212.12
Days on Market6
Property Features for 10020 E Sprague Ave
General Information
Standard status
Active
Size
8,462 SF
Lot size
0.76 Acres
Property subtype
RETAIL
Zoning
Corridor Commercial
Additional Details
Pylon Signage
Yes
Building Details
Buildings
1
Listing Agency:
Goodale & Barbieri Company
(509) 459-6109
Listed By:
Cory Barbieri · License #B92954
(509) 999-9324
Source:
Moodyscre
Added: Sep 17
Changed: Sep 20
Last Checked: Sep 21 at 12:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Goodale & Barbieri Company
Investment Insights
Based on property information with market context.
This retail storefront contains 8,462 square feet within a one-level layout that combines a large open showroom with office and warehouse areas. Pylon signage and a private parking lot support customer access and on-site business operations. The property sits on a 33,300-square-foot lot and carries Corridor Commercial zoning.
Positioned along the Sprague Avenue corridor in Spokane Valley, the site is near City of Spokane Valley City Hall and benefits from visibility along a high-traffic commercial roadway. The configuration provides a combination of display, administrative, storage, and parking areas within one building.
Positioned along the Sprague Avenue corridor in Spokane Valley, the site is near City of Spokane Valley City Hall and benefits from visibility along a high-traffic commercial roadway. The configuration provides a combination of display, administrative, storage, and parking areas within one building.
Key Highlights
- 8,462 SF retail building
- 33,300 SF lot
- Open showroom with office and warehouse areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,473
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,569,460
$1.6M
Cap Rate 7%
$1,121,043
$1.1M
Cap Rate 9%
$871,922
$871.9K
Market Conditions
NOI Build-Up for 8,462 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$121.9K $14.40/SF
− Vacancy
−$9.7K −$1.15/SF
EGI
$112.1K $13.25/SF
− OpEx
−$33.6K −$3.97/SF
NOI
$78.5K $9.27/SF
Area
Spokane Valley, WA
Vacancy
8.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,569,460
Cap Rate 7%
$1,121,043
Cap Rate 9%
$871,922
Alternative Uses
Best Use
Retail
$1.12M
$980.9K – $1.31M
NOI $78,473 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,677 @ 7.0% cap · market cap 7.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99206, WA
39,842
Population
17,339
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
95%
High-School Grad
23.4 sq mi
ZIP Area
1,703
Density / Sq Mi
$75,538
Median Household Income
$42,018
Median Earnings
$1,174
Median Rent
$362,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Storefront property - One-level commercial space combines an open showroom with office and warehouse areas, pylon signage, and private parking.
Where is this storefront property located?
The property is located at 10020 E Sprague Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 8,462 SF retail building; 33,300 SF lot; Open showroom with office and warehouse areas
