Retail Building with Available
16814 E Sprague Avenue, Spokane Valley, WA 99037
For Sale
Contact for pricing
The property combines an existing tenant, available retail area, shared parking and CMU zoning.
Property Size36,340 SF
Lot Size3.94 Acres
Price / SF$137.59
Days on Market54
Property Features for 16814 E Sprague Avenue
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Building Details
Year Built
Listing Agency:
Kiemle Hagood
Listed By:
Tim Kestell · License WA #84800
(509) 755-7542
Source:
Crexi
Added: Sep 18
Changed: Nov 5
Last Checked: Nov 10 at 6:45AM
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
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Investment Insights
Based on property information with market context.
This retail property contains approximately 36,340 square feet in a building constructed in 1976. URM occupies space in the building, while approximately 15,000 square feet is vacant. The site spans approximately 3.94 acres and includes shared parking and about 1 acre of undeveloped land. Corridor Mixed Use (CMU) zoning applies to the property.
Key Highlights
- Approximately 36,340 SF building on 3.94 acres
- Approximately 15,000 SF of vacant space; URM is an existing tenant
- About 1 acre of undeveloped land
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.
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Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
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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
$446,700
Median Home Value
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Market
Average Price Trend$/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 - The property combines an existing tenant, available retail area, shared parking and CMU zoning.
Where is this retail space located?
The property is located at 16814 E Sprague Avenue 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: Approximately 36,340 SF building on 3.94 acres; Approximately 15,000 SF of vacant space; URM is an existing tenant; About 1 acre of undeveloped land
