Modern Retail and Office
For Sale
$12,950,000
11707 E Sprague Ave, Spokane Valley, WA 99206
A modern mixed-use plaza with four-story office space, retail buildings, updated areas, and ample on-site parking.
Property Size107,708 SF
Days on Market139
Property Features for 11707 E Sprague Ave
General Information
Standard status
Active
Size
107,708 SF
Class
B
Property subtype
Office/Retail Space
Building Details
Building Size
107,708 SF
Stories
4
Listing Agency:
Black Commercial, Inc.
Listed By:
Jon Jeffreys, SIOR
(509) 622-3566
Source:
Naiblack
Added: Jun 2
Changed: Oct 6
Last Checked: Oct 16 at 6:40AM
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 Black Commercial, Inc.
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Investment Insights
Based on property information with market context.
Redwood Plaza is a modern, well-maintained commercial property in Spokane Valley featuring a four-story office building and two single-story retail buildings. The layout and contemporary look are designed to serve both tenants and customers, with newly updated common areas and major mechanical systems that support day-to-day operations. Pylon signage and a clean, functional appearance help establish visibility for the center.
The property offers easy access from multiple areas of Spokane Valley and is described as being in the heart of Spokane Valley, WA. With ample on-site parking, visitors and tenants can reach the buildings conveniently, supporting retail activity and business use alike.
This mix of office and retail buildings makes Redwood Plaza a practical option for owners and investors seeking a diversified asset where different tenant profiles can be accommodated. For businesses evaluating space, the combination of updated building components, on-site parking, and prominent center visibility through pylon signage provides a straightforward operating environment.
The property offers easy access from multiple areas of Spokane Valley and is described as being in the heart of Spokane Valley, WA. With ample on-site parking, visitors and tenants can reach the buildings conveniently, supporting retail activity and business use alike.
This mix of office and retail buildings makes Redwood Plaza a practical option for owners and investors seeking a diversified asset where different tenant profiles can be accommodated. For businesses evaluating space, the combination of updated building components, on-site parking, and prominent center visibility through pylon signage provides a straightforward operating environment.
Key Highlights
- Redwood Plaza in Spokane Valley, WA includes a four‑story office building and two single‑story retail buildings
- Ample on‑site parking for tenants and customers
- Easy access from multiple areas of Spokane Valley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,153,553
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,071,060
$23.1M
Cap Rate 7%
$16,479,329
$16.5M
Cap Rate 9%
$12,817,256
$12.8M
Market Conditions
NOI Build-Up for 107,708 SF
Gross rent
$1.81M $16.80/SF
− Vacancy
−$271.4K −$2.52/SF
EGI
$1.54M $14.28/SF
− OpEx
−$384.5K −$3.57/SF
NOI
$1.15M $10.71/SF
Area
Spokane Valley, WA
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,071,060
Cap Rate 7%
$16,479,329
Cap Rate 9%
$12,817,256
Alternative Uses
Best Use
Office B
$16.48M
$14.42M – $19.23M
NOI $1,153,553 @ 7.0% cap · market cap 8.91%
Second Best
Retail
$14.27M
$12.49M – $16.65M
NOI $998,841 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$23.40M
$20.47M – $27.30M
NOI $1,637,851 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
970
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 Office in West region
Frequently Asked Questions
What type of property is this?
Office building - A modern mixed-use plaza with four-story office space, retail buildings, updated areas, and ample on-site parking.
Where is this office building located?
The property is located at 11707 E Sprague Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $12,950,000.
What are key features of this property?
This property features: Redwood Plaza in Spokane Valley, WA includes a four‑story office building and two single‑story retail buildings; Ample on‑site parking for tenants and customers; Easy access from multiple areas of Spokane Valley
