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 Market340
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: Oct 25
Last Checked: Oct 30 at 1:39PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
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Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
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.
