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    Former Sears Retail Anchor Boxes Title is generated by Realmo AI

    4750 N DIVISION ST, Spokane, WA 99207

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    Two large-format anchor boxes at regional malls, offered individually or together for retail backfill, healthcare, or redevelopment.

    Type:Retail
    Property size:
    160,538 SF
    Lot size:
    7.35 Acres
    Added:
    May 29, 2026
    Days on Market:
    9
    Last Refresh:
    Jun 6 at 2:48 am

    Property Features for 4750 N DIVISION ST

    General Information

    Standard status
    Active
    Size
    160,538 SF
    Lot size
    7.35 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1954

    We can help!

    Listing Contact
    Billy Sleeth

    Listing agent Billy Sleeth License #WA 88059

    Listing office Newmark - Seattle

    Listing date May 29, 2026

    Source Crexi

    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 Newmark - Seattle

    HighLights

    • Two former Sears anchor boxes in Spokane, WA offered together or individually for retail backfill, healthcare, or redevelopment.
    • Spokane Valley Mall: 14720 E Indiana Ave, Spokane Valley, WA 1134,982 SF on 8.93 acres.
    • NorthTown Mall: 4750 N Division St, Spokane, WA 160,538 SF on 7.35 acres.
    • Spokane Valley Mall reports 6.4M+ annual mall visits.
    • NorthTown Mall reports 3.4M+ annual mall visits.
    • Year built 1954; zoning and reciprocal easements preserve access, parking, and circulation.

    Overview

    The offering includes two former Sears anchor box properties, each designed for large-format retail use and available either together or separately. The assets provide substantial building scale and flexible interior configuration consistent with big-box anchor requirements. They are being marketed to support a range of reuse directions, including retail backfill, adaptive reuse, medical/education use, or redevelopment.

    Spokane Valley Mall includes the anchor box at 14720 E Indiana Ave, Spokane Valley, with approximately 134,982 SF on about 8.93 acres, and is described as drawing 6.4M+ annual mall visits. NorthTown Mall includes the anchor box at 4750 N Division St, Spokane, with approximately 160,538 SF on about 7.35 acres, and is described as drawing 3.4M+ annual mall visits. The remarks further note that zoning and reciprocal easements are in place to preserve access, parking, and circulation for future ownership.

    For buyers and serious tenant representatives, these anchor-box sites can be evaluated as stand-alone opportunities or as a combined portfolio, depending on the intended end use. The scale and mall-based environment can support operators seeking a large footprint within established shopping centers, while the noted access and circulation provisions are relevant for planning retail, service, healthcare, education, or redevelopment programs.
    Location Intelligence

    Current Use by Public Records

    Zumiez Clothing & Fashion Store H&M Children'S Clothing Store Maurices Clothing & Fashion Store American Eagle Store Clothing Store Marshalls Department Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Sunglass Hut — 4750 N Division St Suite 1170, Spokane, WA 99207
    • Northtown Square — 4727 N Division St, Spokane, WA 99207
    • Millard Mall Services — 4750 N Division St, Spokane, WA 99207
    • Fanorama Bungee — 4750 N Division St, Spokane, WA 99207
    • NorthTown Mall — 4750 N Division St, Spokane, WA 99207

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4105343
    Latitude
    47.7027902

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    FAQs

    What type of property is this?
    Shopping center - Two large-format anchor boxes at regional malls, offered individually or together for retail backfill, healthcare, or redevelopment.
    Where is this shopping center located?
    The property is located at 4750 N DIVISION ST Spokane, WA.
    What are key features of this property?
    This property features: Two former Sears anchor boxes in Spokane, WA offered together or individually for retail backfill, healthcare, or redevelopment.; Spokane Valley Mall: 14720 E Indiana Ave, Spokane Valley, WA 1134,982 SF on 8.93 acres.; NorthTown Mall: 4750 N Division St, Spokane, WA 160,538 SF on 7.35 acres.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Billy Sleeth
    Real Estate License ID: WA 88059
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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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    4750 N DIVISION ST, SPOKANE, WA 99207
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