Retail Building with Vacant
16808-16814 E Sprague Ave, Spokane Valley, WA 99037
For Sale
Contact for pricing
CMU zoning, shared parking, and undeveloped land accompany this established commercial property.
Property Size36,340 SF
Lot Size3.94 Acres
Price / SF$137.59
Days on Market82
Property Features for 16808-16814 E Sprague Ave
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Building Details
Year Built
Listing Agency:
Kiemle Hagood
(509) 838-6541
Listed By:
Tim Kestell · License #84800
(509) 755-7542
Source:
Moodyscre
Added: Aug 20
Changed: Oct 26
Last Checked: Nov 8 at 8:36AM
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 Kiemle Hagood
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 includes a 36,340 SF building on approximately 3.94 acres, with space occupied by URM and approximately 15,000 SF currently vacant. The property was built in 1976 and includes a shared parking lot. Its layout combines existing retail improvements with additional available area for commercial occupancy.
Located at 16808-16814 E Sprague Ave in Spokane Valley, the property is zoned Corridor Mixed Use (CMU). Approximately 1 acre of the site remains undeveloped, adding land area to the existing building and parking improvements. The combination of a substantial building, current vacancy, shared parking, and CMU zoning creates a property with both occupied and available commercial space.
Located at 16808-16814 E Sprague Ave in Spokane Valley, the property is zoned Corridor Mixed Use (CMU). Approximately 1 acre of the site remains undeveloped, adding land area to the existing building and parking improvements. The combination of a substantial building, current vacancy, shared parking, and CMU zoning creates a property with both occupied and available commercial space.
Key Highlights
- 36,340 SF retail building on approximately 3.94 acres
- Approximately 15,000 SF of current vacant space
- URM included as a tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$337,003
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,740,060
$6.7M
Cap Rate 7%
$4,814,329
$4.8M
Cap Rate 9%
$3,744,478
$3.7M
Market Conditions
NOI Build-Up for 36,340 SF
Gross rent
$523.3K $14.40/SF
− Vacancy
−$41.9K −$1.15/SF
EGI
$481.4K $13.25/SF
− OpEx
−$144.4K −$3.97/SF
NOI
$337.0K $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%
$6,740,060
Cap Rate 7%
$4,814,329
Cap Rate 9%
$3,744,478
Alternative Uses
Best Use
Retail
$4.81M
$4.21M – $5.62M
NOI $337,003 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.89M
$6.91M – $9.21M
NOI $552,601 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Explore this area
Business Placement
Demographics for 99037, WA
15,907
Population
6,189
Households
2.6
Avg Household Size
38
Median Age
30%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
2,525
Density / Sq Mi
$83,886
Median Household Income
$43,970
Median Earnings
$1,303
Median Rent
$446,700
Median Home Value
Market
Average Price Trend$/SF for Retail space in Spokane County, WA
Properties on Market for Retail space in Spokane County
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Retail space - CMU zoning, shared parking, and undeveloped land accompany this established commercial property.
Where is this retail space located?
The property is located at 16808-16814 E Sprague Ave Spokane Valley, WA.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 36,340 SF retail building on approximately 3.94 acres; Approximately 15,000 SF of current vacant space; URM included as a tenant
