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    Motel and RV Park Investment Title is generated by Realmo AI

    312 E 1st St, Sprague, WA 99032

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    For Sale
    $1,325,000

    COMMERCIAL - Sprague, WA

    Property size:
    4,692 SF
    Lot size:
    1.56 Acres
    Price / SF:
    $282/SF
    Added:
    Nov 18, 2025
    Days on Market:
    175
    Last Refresh:
    May 12 at 3:06 pm

    Property Features for 312 E 1st St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Comm
    Standard status
    Active
    APN
    0709000007010
    Size
    4,692 SF
    Lot size
    1.56 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3423

    Utilities

    Heating system
    Ductless (Heating), Electric (Heating)

    Building Details

    Year built
    1940
    Floors in Building
    1
    Building materials
    Brick Veneer, Wood Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Kellen Parton

    Listing agent Kellen Parton License #21015708

    Listing office Real Estate Marketplace NW,Inc 404 S Main St, Deer Park, WA

    Listing date Nov 18, 2025

    MLS# 202526901

    Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Turn‑key motel & RV park with remodeled rooms and lobby.
    • Features 10 motel rooms and 17 metered RV spaces.
    • Exceptional on‑site management in place.
    • Convenient location along Interstate 90.
    • Tremendous growth experienced over the past three years with a great repeat customer base.
    • Sprague area location near lakes and public land areas popular for hunting, fishing, and recreation.

    Overview

    This turn-key motel and RV park features 10 rooms and 17 RV spaces. The property has undergone considerable improvements, including remodeled rooms and lobby, construction of an additional suite, metering of all RV spaces, a public laundromat, and propane refilling capabilities. Exceptional on-site management is in place. Significant growth has been experienced over the past three years, supported by a repeat customer base and a convenient location along Interstate 90. The Sprague area is known for its lakes and public land areas, making it a popular destination for hunting, fishing, and recreation. The property, situated on 1.56 acres, offers potential for expansion. The property size is 4692 square feet. It is located in Sprague, WA. The zoning is commercial. This property is intended for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Sprague Motel and RV ... Hotel & Motel

    Suggested Use

    Restaurant Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Bar & Pub (Bike/Boat/Book/etc) Store Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Sprague
    County
    Lincoln
    State
    Washington
    Longitude
    -117.971933
    Latitude
    47.30023

    Nearby Similar for Sale

    • $1,500,000
      11,200 SF

      Light Industrial Warehouse Near I-90

      Light industrial warehouse with easy I-90 access on 3.97 acres.
      403 N D St, Sprague, WA
      View Details
    • $1,399,000

      Light Industrial Warehouse Near I-90

      Light industrial warehouse with easy I-90 access in Sprague, WA.
      403 N D St, Sprague, WA 99032
      View Details

    FAQs

    What type of property is this?
    Motel - Turn-key motel and RV park near Interstate 90.
    Where is this motel located?
    The property is located at 312 E 1st St Sprague, WA.
    What is the asking price?
    The asking price for this property is $1,325,000.
    What are key features of this property?
    This property features: Turn‑key motel & RV park with remodeled rooms and lobby.; Features 10 motel rooms and 17 metered RV spaces.; Exceptional on‑site management in place.
    (509) 276-5445
    We can help!
    Listing Contact
    Kellen Parton
    Real Estate License ID: 21015708
    Learn More
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    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.

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