Retail Investment Opportunity
For Sale
Contact for pricing
11809 E Sprague Ave, Spokane Valley, WA
Retail property with tenant leases and income potential.
Property Size6,300 SF
Lot Size1.36 Acres
Price / SF$187.30
Days on Market322
Property Features for 11809 E Sprague Ave
General Information
Standard status
Active
Size
6,300 SF
Lot size
1.36 Acres
Property subtype
RETAIL
Listing Agency:
Re/Max of Spokane-Commercial
(509) 922-3000
Listed By:
Tom Watson-Mgr.Broker
(509) 220-3835
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Sep 13
Last Checked: Oct 11 at 7:36AM
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 Re/Max of Spokane-Commercial
Investment Insights
Based on property information with market context.
This retail property features multiple tenants, including sign space. Current leases include 3% annual rent escalations through April 30, 2027. The owner utilizes a 2,400 square foot stick-frame building constructed in 2016, located on the west side of the property, for personal storage and maintenance equipment. The property size is 6,300 square feet.
Key Highlights
- Price reduced to a 7 CAP with purchase of adjoining parcel.
- Four current tenants, including sign space.
- Current rents have 3% escalators through April 30, 2027.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,424
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,168,480
$1.2M
Cap Rate 7%
$834,629
$834.6K
Cap Rate 9%
$649,156
$649.2K
Market Conditions
NOI Build-Up for 6,300 SF
Gross rent
$90.7K $14.40/SF
− Vacancy
−$7.3K −$1.15/SF
EGI
$83.5K $13.25/SF
− OpEx
−$25.0K −$3.97/SF
NOI
$58.4K $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 Rate 5%
$1,168,480
Cap Rate 7%
$834,629
Cap Rate 9%
$649,156
Alternative Uses
Best Use
Retail
$834.6K
$730.3K – $973.7K
NOI $58,424 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,800 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
878
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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?
Retail space - Retail property with tenant leases and income potential.
Where is this retail space located?
The property is located at 11809 E Sprague Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $1,180,000.
What are key features of this property?
This property features: Price reduced to a 7 CAP with purchase of adjoining parcel.; Four current tenants, including sign space.; Current rents have 3% escalators through April 30, 2027.
