Freestanding Retail Building with
New
For Sale
$1,750,000
11205 E Sprague Ave, Spokane Valley, WA 99206
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 Market1
Property Features for 11205 E Sprague Ave
General Information
Standard status
Active
Size
6,400 SF
Total Parking Spaces
28
Lot size
0.65 Acres
Property subtype
Retail
Zoning
CMU
Site & Location
Frontage
198 ft
Corner Location
Yes
Drive-Thru
Yes
Traffic Count
22,500 vehicles/day
Road Access
Yes
Additional Details
Sprinkler System
Yes
Amenities
conference and training rooms
kitchenette
Building Details
Building Size
6,400 SF
Year Built
1970
Buildings
1
Stories
2
Construction
masonry
Listing Agency:
SVN | Cornerstone
Listed By:
Omar Sadaoui, CCIM · License #WA #22008121
(509) 601-0695
Source:
Svncornerstone
Added: Sep 26
Last Checked: Sep 26 at 3:35PM
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
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 = 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
$70,387
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
4.02%
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%
$1,407,740
$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
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
$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 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%
$1,407,740
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.
Property Analytics
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Open Analytics
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
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?
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
