Freestanding Retail Building with
11205 E Sprague Ave, Spokane Valley, WA 99206
For Sale
$1,750,000
CMU zoning supports a range of commercial uses, including office, medical, retail, restaurant, light manufacturing, and indoor storage.
Property Size6,400 SF
Lot Size0.65 Acres
Price / SF$273.44
Days on Market46
Property Features for 11205 E Sprague Ave
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Site & Location
Frontage
Corner Location
Drive-Thru
Traffic Count
Road Access
Additional Details
Sprinkler System
Amenities
conference and training rooms
kitchenette
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
SVN CORNERSTONE LLC
Listed By:
Omar Sadaoui, CCIM · License WA #22008121
(509) 601-0695
Source:
Svncornerstone
Added: Sep 26
Changed: Nov 10
Last Checked: Nov 10 at 6:06AM
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 SVN CORNERSTONE LLC
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Investment Insights
Based on property information with market context.
The freestanding 6,400-square-foot building has a 3,584-square-foot main floor and a finished 2,816-square-foot lower level. Its open upper floor features storefront glazing and clerestory windows, while the sprinklered lower level contains conference and training rooms, a kitchenette, restrooms, and storage. A two-lane drive-through canopy remains in place. Recent work includes a TPO roof, HVAC, and a concrete floor. Built in 1970, the property is vacant and available for occupancy; floor plans for both levels are available.
The 28,126-square-foot corner parcel fronts Sprague Avenue and N Moffitt Road, with approximately 198 feet of frontage on Sprague Avenue. The site has 28 parking stalls and three access points. Sprague Avenue traffic is approximately 22,500 vehicles per day.
CMU zoning permits a range of commercial uses, including office, medical, retail, restaurant, light manufacturing, and indoor storage.
The 28,126-square-foot corner parcel fronts Sprague Avenue and N Moffitt Road, with approximately 198 feet of frontage on Sprague Avenue. The site has 28 parking stalls and three access points. Sprague Avenue traffic is approximately 22,500 vehicles per day.
CMU zoning permits a range of commercial uses, including office, medical, retail, restaurant, light manufacturing, and indoor storage.
Key Highlights
- 6,400 SF building with a 3,584 SF main floor and 2,816 SF finished lower level
- Two‑lane drive‑through canopy in place
- 28,126 SF corner parcel with approximately 198 feet of Sprague Avenue frontage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,387
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,407,740
$1.4M
Cap Rate 7%
$1,005,529
$1.0M
Cap Rate 9%
$782,078
$782.1K
Market Conditions
NOI Build-Up for 6,400 SF
Gross rent
$99.8K $15.60/SF
− Vacancy
−$6.0K −$0.94/SF
EGI
$93.8K $14.66/SF
− OpEx
−$23.5K −$3.67/SF
NOI
$70.4K $11.00/SF
Area
Spokane Valley, WA
Vacancy
6.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,407,740
Cap Rate 7%
$1,005,529
Cap Rate 9%
$782,078
Alternative Uses
Best Use
Specialty Retail
$1.01M
$879.8K – $1.17M
NOI $70,387 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$847.9K
$741.9K – $989.2K
NOI $59,351 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,321 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
22,500 VPD
Traffic count
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
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
Frequently Asked Questions
What type of property is this?
Bank - CMU zoning supports a range of commercial uses, including office, medical, retail, restaurant, light manufacturing, and indoor storage.
Where is this bank located?
The property is located at 11205 E Sprague Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 6,400 SF building with a 3,584 SF main floor and 2,816 SF finished lower level; Two‑lane drive‑through canopy in place; 28,126 SF corner parcel with approximately 198 feet of Sprague Avenue frontage
