Spokane Valley Retail
For Sale
$1,275,000
14909 E Sprague Ave, Spokane, WA 99216
Prime location with high traffic and development potential.
Property Size5,014 SF
Price / SF$169.68
Days on Market272
Property Features for 14909 E Sprague Ave
General Information
Standard status
Active
Size
5,014 SF
Class
B
Property subtype
Office
Building Details
Building Size
5,014 SF
Year Built
1986
Listing Agency:
SVN Cornerstone LLC
(509) 601-0695
Listed By:
Omar Sadaoui, CCIM · License #WA #22008121
(509) 601-0695
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 16
Last Checked: Aug 20 at 5:01AM
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 LLC
Investment Insights
Based on property information with market context.
This property features over 380 feet of frontage on Sprague Avenue, encompassing 2.03 acres across three parcels in Spokane Valley, situated between Progress and Adams. It includes a 5,014 square foot retail/office showroom, enhanced by a new TPO roof installed in 2023, and a 2,500 square foot shop/warehouse. The location benefits from average daily traffic exceeding 24,000 vehicles. The property is suitable for owner-users, developers, or investors. The Spokane Valley market offers a mix of residential, retail, and commercial activity. The location benefits from a growing population and consumer activity. Nearby attractions include Spokane Valley Mall, Mirabeau Park, and the Centennial Trail. The property features three curb cuts onto Sprague for isolated ingress/egress, fully fenced and secured perimeters with wrought iron and vinyl fencing, and three fully motorized gates with remote access. The CMU Zoning allows for light manufacturing, retail, multifamily, and offices.
Key Highlights
- Prime Spokane Valley location with over 380 feet of frontage on Sprague Avenue and high traffic count.
- 2.03‑acre assemblage with flexible CMU zoning allowing for light manufacturing, retail, multifamily, and offices.
- Includes a 5,014 SF retail/office showroom with a new TPO roof (2023) and a 2,500 SF shop/warehouse.
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
$77,966
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
6.11%
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%
$1,559,320
$1.6M
Cap Rate 7%
$1,113,800
$1.1M
Cap Rate 9%
$866,289
$866.3K
Market Conditions
NOI Build-Up for 7,514 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
$121.7K $16.20/SF
− Vacancy
−$10.3K −$1.38/SF
EGI
$111.4K $14.82/SF
− OpEx
−$33.4K −$4.45/SF
NOI
$78.0K $10.38/SF
Area
Spokane, WA
Vacancy
8.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,559,320
Cap Rate 7%
$1,113,800
Cap Rate 9%
$866,289
Alternative Uses
Best Use
Retail
$1.11M
$974.6K – $1.30M
NOI $77,966 @ 7.0% cap · market cap 6.11%
Second Best
Warehouse
$701.2K
$613.6K – $818.1K
NOI $49,084 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,703 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
752
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99216, WA
28,379
Population
12,703
Households
2.2
Avg Household Size
37
Median Age
22%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
1,999
Density / Sq Mi
$69,958
Median Household Income
$40,652
Median Earnings
$1,307
Median Rent
$336,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- DESIGN TILE AND FLOORING LLC SPOKANE — 14109 E Sprague Ave #7B, Spokane Valley, WA 99216
Frequently Asked Questions
What type of property is this?
Showroom - Prime location with high traffic and development potential.
Where is this showroom located?
The property is located at 14909 E Sprague Ave Spokane, WA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Prime Spokane Valley location with **over 380 feet of frontage on Sprague Avenue** and high traffic count.; 2.03‑acre assemblage with flexible CMU zoning allowing for light manufacturing, retail, multifamily, and offices.; Includes a **5,014 SF retail/office showroom with a new TPO roof (2023)** and a 2,500 SF shop/warehouse.
