Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spokane Valley Land Opportunity Title is generated by Realmo AI

    16801 East Sprague Avenue, Spokane Valley, WA 99037

    View on Map
    Claim this Listing
    For Sale
    $500,000

    Versatile land parcel in Spokane Valley's growing corridor.

    Type:Land / Unimproved Land
    Property size:
    43,560 SF
    Lot size:
    1.00 Acre
    Price / SF:
    $11/SF
    Added:
    Dec 31, 2024
    Days on Market:
    520
    Last Refresh:
    Mar 13 at 10:38 am

    Property Features for 16801 East Sprague Avenue

    General Information

    Standard status
    Active
    Size
    43,560 SF
    Lot size
    1.00 Acre
    Property subtype
    Land / Unimproved Land

    We can help!

    Listing Contact
    Brenda McKinley
    Brenda McKinley

    Listing agent Brenda McKinley License #129183

    Listing office Windermere Valley

    Listing date Dec 31, 2024

    Source Compass

    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 Windermere Valley

    HighLights

    • Zoned Corridor Mixed Use: Allows for diverse development options.
    • Prime Location: Situated on the west side of the Spokane Valley Eagles building in a high‑demand area.
    • Approximately 1 Acre: Substantial land size provides ample space for various projects.
    • New Easement: Newly granted easement on the northwest corner ensures easy access to the property.
    • Versatile Development Potential: Suitable for residential units or a storage facility.
    • Blank Canvas: The land is ready for development.

    Overview

    This versatile land parcel is located on the west side of the Spokane Valley Eagles building. Zoned for Corridor Mixed Use, the property offers development possibilities including single-family homes, multi-family units, apartment complexes, and storage facilities. The property size is approximately 1 acre, with the exact size to be confirmed by a survey and setback requirements. A newly granted easement on the northwest corner ensures access to the property. The buyer will be responsible for the cost of surveying, dividing the property, and potentially relocating a fire hydrant, depending on development plans. This land provides a blank canvas for development in Spokane Valley's growing corridor.
    Location Intelligence

    Current Use by Public Records

    Fraternal Order of Eagles Volunteer Organization

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.1796416
    Latitude
    47.6582049

    Nearby Similar for Sale

    • $379,000
      3,683 SF

      Spokane Valley Commercial Corner Lot

      Highly visible corner lot suitable for various business uses.
      1725 N Park Rd, Spokane Valley, WA 99212
      View Details
    • $850,000
      3,328 SF

      High-Traffic Spokane Valley Investment Property

      Income-generating, multi-use property with high visibility and freeway access.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • $540,000
      3,816 SF

      Spokane Valley Duplex with Garages

      Well-maintained duplex with garages, strong rental history, great location.
      10720 & 10722 E SPRINGFIELD Ave, Spokane Valley, WA 99206
      View Details
    • $650,000
      2,858 SF

      Two-Story 4-Plex Investment

      Well-maintained four-unit property with private outdoor space and off-street parking for easy tenant appeal.
      13208 E Skyview Ave, Spokane Valley, WA 99216
      View Details
    • $1,345,000
      4,173 SF

      Adult Care Home Opportunity

      Licensed adult care home with business included in Spokane Valley.
      Adult Care Home Spokane Rd, Spokane Valley, WA 99212
      View Details
    • $850,000
      3,328 SF

      Spokane Valley Multifamily Investment Opportunity

      High-traffic, income-generating property with multi-use zoning in Spokane Valley.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • $850,000
      3,328 SF

      Spokane Valley Multi-Use Investment Property

      High-traffic, income-generating property with diverse development potential in Spokane Valley.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • $175,000

      Spokane Valley Storage Unit

      Premium commercial storage unit in Spokane Valley's Garage Town.
      19410 E Broadway Ave, Spokane Valley, WA 99016
      View Details
    • $10,850,000
      42,000 SF

      New Apartment Complex in Spokane

      42-unit apartment complex with modern amenities, completion July 2026.
      11802 E Main Ave, Spokane Valley, WA 99206
      View Details
    • $329,500
      1,092 SF

      Spokane Valley Duplex with Upside

      Income-producing duplex with expansion potential on a 0.34-acre lot.
      713/715 S Morrow Rd, Spokane Valley, WA 99216
      View Details
    • $130,000

      Spokane Valley Commercial Land Parcel

      Vacant land parcel with industrial mixed-use zoning.
      14XXX E Rockwell Ave, Spokane Valley, WA 99216
      View Details
    • $850,000

      High-Traffic Spokane Valley Investment Property

      High-visibility, income-generating property with multi-use zoning along I-90.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details

    FAQs

    What type of property is this?
    Commercial land - Versatile land parcel in Spokane Valley's growing corridor.
    Where is this commercial land located?
    The property is located at 16801 East Sprague Avenue Spokane Valley, WA.
    What is the asking price?
    The asking price for this property is $500,000.
    What are key features of this property?
    This property features: Zoned Corridor Mixed Use: Allows for diverse development options.; Prime Location: Situated on the west side of the Spokane Valley Eagles building in a high‑demand area.; Approximately 1 Acre: Substantial land size provides ample space for various projects.
    (509) 850-4663
    We can help!
    Listing Contact
    Brenda McKinley
    Brenda McKinley
    Real Estate License ID: 129183
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    16801 East Sprague Avenue, Spokane Valley, WA 99037
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!