Established Spokane Limousine Business For
For Sale
Contact for pricing
430 E Sprague Ave, Spokane, WA 99202
Prestigious limousine business with 33-year legacy, fully licensed and insured.
Property Size32,234 SF
Price / SF$77.56
Days on Market874
Property Features for 430 E Sprague Ave
General Information
Standard status
Active
Size
32,234 SF
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
Goodale & Barbieri
(509) 344-4909
Listed By:
Ryan Oberg · License #WA B111788
Source:
Crexi
Added: Apr 10, 2024
Changed: Aug 26
Last Checked: Aug 29 at 3:22AM
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 Goodale & Barbieri
Investment Insights
Based on property information with market context.
Located at 430 E Sprague Ave in Spokane, WA, Spokane Limousine is an established business with a 33-year history. The company is fully licensed, bonded, state inspected, and comprehensively insured, prioritizing safety, reliability, and professionalism. The business maintains a fleet of vehicles and employs experienced chauffeurs. Spokane Limousine provides luxury transportation services for special occasions, corporate events, and airport transfers. The property size is 32234 square feet.
Key Highlights
- Established business with a 33‑year legacy in luxury transportation.
- Fully licensed, bonded, state inspected, and comprehensively insured operation.
- Meticulously maintained fleet of vehicles.
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
$187,543
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
7.50%
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%
$3,750,860
$3.8M
Cap Rate 7%
$2,679,186
$2.7M
Cap Rate 9%
$2,083,811
$2.1M
Market Conditions
NOI Build-Up for 32,234 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
$286.2K $8.88/SF
− Vacancy
−$18.3K −$0.57/SF
EGI
$267.9K $8.31/SF
− OpEx
−$80.4K −$2.49/SF
NOI
$187.5K $5.82/SF
Area
Spokane, WA
Vacancy
6.40%
Lease Rate
$8.88 /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%
$3,750,860
Cap Rate 7%
$2,679,186
Cap Rate 9%
$2,083,811
Alternative Uses
Best Use
Retail
$4.78M
$4.18M – $5.57M
NOI $334,463 @ 7.0% cap · market cap 13.38%
Second Best
Industrial
$2.68M
$2.34M – $3.13M
NOI $187,543 @ 7.0% cap · market cap 7.50%
Theoretical Best
Office A
$8.32M
$7.28M – $9.70M
NOI $582,146 @ 7.0% cap · market cap 23.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,975
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 99202, WA
21,969
Population
8,296
Households
2.6
Avg Household Size
31
Median Age
33%
College-Educated
92%
High-School Grad
5.9 sq mi
ZIP Area
3,724
Density / Sq Mi
$61,323
Median Household Income
$31,892
Median Earnings
$1,070
Median Rent
$268,700
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Enterprise Rent-A-Car — 41 W 3rd Ave, Spokane, WA 99201
- U-Box at U-Haul — 21 W 3rd Ave, Spokane, WA 99201
- Trailer Rental at U-Haul — 21 W 3rd Ave, Spokane, WA 99201
- U-Haul Storage of Midtown — 21 W 3rd Ave, Spokane, WA 99201
- Propane Refill at U-Haul — 21 W 3rd Ave, Spokane, WA 99201
Frequently Asked Questions
What type of property is this?
Automotive property - Prestigious limousine business with 33-year legacy, fully licensed and insured.
Where is this automotive property located?
The property is located at 430 E Sprague Ave Spokane, WA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Established business with a 33‑year legacy in luxury transportation.; Fully licensed, bonded, state inspected, and comprehensively insured operation.; Meticulously maintained fleet of vehicles.
