Retail/Warehouse Space Available For
For Sale
Contact for pricing
4630 E Sprague Ave, Spokane, WA
15,000 SF retail/warehouse space available Spring 2025.
Property Size15,000 SF
Lot Size1.82 Acres
Price / SF$346.67
Days on Market351
Property Features for 4630 E Sprague Ave
General Information
Standard status
Active
Size
15,000 SF
Lot size
1.82 Acres
Property subtype
RETAIL
Lease Type
NNN
Properties For Sale
at 4630 E Sprague Ave Contact us- Size
- 15,000 SF
- Type
- RETAIL
- Lease Type
- NNN
- Availability
- AVAILABLE
4630 E Sprague Ste B
Former location of Advanced Auto Parts; 15000 SF retail, commercial, warehousing...
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Listing Agency:
Kiemle Hagood
(509) 755-7524
Listed By:
Mark Lucas
(509) 755-7524
Source:
Moodyscre
Added: Aug 27, 2025
Changed: Aug 8
Last Checked: Aug 12 at 5:08AM
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
Investment Insights
Based on property information with market context.
This property, formerly an Advanced Auto Parts location, offers 15,000 square feet of retail, commercial, and warehousing space. It is available for lease starting in Spring 2025.
Key Highlights
- 15000 SF of space available, ideal for various business needs.
- Suitable for retail, commercial, or warehousing use.
- Available for lease Spring 2025.
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
$155,642
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
2.99%
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%
$3,112,840
$3.1M
Cap Rate 7%
$2,223,457
$2.2M
Cap Rate 9%
$1,729,356
$1.7M
Market Conditions
NOI Build-Up for 15,000 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
$243.0K $16.20/SF
− Vacancy
−$20.7K −$1.38/SF
EGI
$222.3K $14.82/SF
− OpEx
−$66.7K −$4.45/SF
NOI
$155.6K $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%
$3,112,840
Cap Rate 7%
$2,223,457
Cap Rate 9%
$1,729,356
Alternative Uses
Best Use
Retail
$2.22M
$1.95M – $2.59M
NOI $155,642 @ 7.0% cap · market cap 2.99%
Second Best
Warehouse
$1.40M
$1.22M – $1.63M
NOI $97,984 @ 7.0% cap · market cap 1.88%
Theoretical Best
Office A
$3.87M
$3.39M – $4.52M
NOI $270,900 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 15,000 SF retail/warehouse space available Spring 2025.
Where is this retail space located?
The property is located at 4630 E Sprague Ave Spokane, WA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: 15000 SF of space available, ideal for various business needs.; Suitable for retail, commercial, or warehousing use.; Available for lease Spring 2025.
