Restaurant Building with
For Sale
Contact for pricing
11114 E Sprague Ave, Spokane Valley, WA 99206
Existing dining, bar, and kitchen improvements support a variety of restaurant concepts.
Property Size2,380 SF
Price / SF$109.24
Days on Market196
Property Features for 11114 E Sprague Ave
General Information
Standard status
Active
Size
2,380 SF
Class
C
Property subtype
Business for Sale
Building Details
Year Built
1978
Year Renovated
1983
Buildings
1
Stories
1
Listing Agency:
NAI Black
Listed By:
John Powers · License #WA 100306
(509) 622-3563
Source:
Crexi
Added: Apr 2
Changed: Oct 13
Last Checked: Oct 12 at 6:43PM
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 NAI Black
Investment Insights
Based on property information with market context.
The property includes a 2,380-square-foot restaurant building constructed in 1978 on approximately 22,560 square feet of land. Interior improvements include a dining area, bar, and chef’s kitchen designed for a range of restaurant concepts, along with a large parking lot.
The building is located at 11114 E Sprague Ave in Spokane Valley, near the corner of Sprague Ave. and Bowdish Rd. Nearby businesses include Zips, Iron House, Peking Palace, and Market Street Pizza. The site has an estimated traffic count of 21,600 vehicles per day, and a new attractive long-term lease is available.
The building is located at 11114 E Sprague Ave in Spokane Valley, near the corner of Sprague Ave. and Bowdish Rd. Nearby businesses include Zips, Iron House, Peking Palace, and Market Street Pizza. The site has an estimated traffic count of 21,600 vehicles per day, and a new attractive long-term lease is available.
Key Highlights
- 2,380 SF restaurant building on approximately 22,560 SF of land
- Dining area and bar included in the existing improvements
- Chef’s kitchen suited to a variety of restaurant concepts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,847
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,940
$276.9K
Cap Rate 7%
$197,814
$197.8K
Cap Rate 9%
$153,856
$153.9K
Market Conditions
NOI Build-Up for 2,380 SF
Gross rent
$21.1K $8.88/SF
− Vacancy
−$1.4K −$0.57/SF
EGI
$19.8K $8.31/SF
− OpEx
−$5.9K −$2.49/SF
NOI
$13.8K $5.82/SF
Area
Spokane Valley, WA
Vacancy
6.40%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,940
Cap Rate 7%
$197,814
Cap Rate 9%
$153,856
Alternative Uses
Best Use
Specialty Retail
$373.9K
$327.2K – $436.3K
NOI $26,175 @ 7.0% cap · market cap 10.07%
Second Best
Industrial
$197.8K
$173.1K – $230.8K
NOI $13,847 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$517.0K
$452.4K – $603.2K
NOI $36,191 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
701
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
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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?
Conventional restaurant - Existing dining, bar, and kitchen improvements support a variety of restaurant concepts.
Where is this conventional restaurant located?
The property is located at 11114 E Sprague Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: 2,380 SF restaurant building on approximately 22,560 SF of land; Dining area and bar included in the existing improvements; Chef’s kitchen suited to a variety of restaurant concepts
