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    4603 Sprague Ave Spokane Valley, WA 99212
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    4603 Sprague Ave Spokane Valley, WA 99212

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    • Retail properties & Spaces
    • 21,120 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 4603 Sprague Ave

    Property size
    21,120 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional 21,120 square foot commercial land parcel presents a rare opportunity in Spokane Valley, Washington. Strategically located at 4603 E Sprague Ave, this property boasts a prime position at a highly visible, lighted intersection, offering unparalleled exposure to a dense concentration of consumers. The site is ideally situated near major retail anchors including Walmart, Costco, Home Depot, and Lowe's, ensuring consistent high traffic volume and strong consumer demographics. Zoned for Regional Commercial use, this land allows for a wide range of development possibilities, including the potential for a drive-thru establishment, capitalizing on the area's high vehicular traffic. Its convenient access from Interstate 90 further enhances its appeal, providing easy accessibility for both local and regional customers. The property's prominent location offers excellent signage opportunities, maximizing visibility and brand recognition for any future development. This is an exceptional investment opportunity for businesses seeking a high-traffic location with strong potential for growth and return. The property is located in Spokane County, WA, zip code 99212.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.343
    Latitude
    47.6576

    Comparable in this City

    • Value Estimation by Request
      21,120 SF

      4603 Sprague Ave

      Land • 21,120 SF
      4603 Sprague Ave, Spokane Valley, WA 99212
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      2000 Argonne Rd

      Land
      2000 Argonne Rd, Spokane Valley, WA 99212
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      207-221 Argonne Rd

      Land
      207-221 Argonne Rd, Spokane Valley, WA 99212
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    • Value Estimation by Request
      0.13 Acres

      5500 Trent Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 0.13 Acres
      5500 Trent Ave, Spokane, WA 99212
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    • Value Estimation by Request
      5,300 SF

      5123 Railroad Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 5,300 SF
      5123 Railroad Ave, Spokane, WA 99212
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    • Value Estimation
      $640,000
      3,556 SF

      5901 Trent Ave

      DEPARTMENT STORE • 3,556 SF
      5901 Trent Ave, Spokane Valley, WA 99212-1211
      View Details

    Similar Nearby for Sale

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      Land for Sale

      Land available for sale in Spokane, WA.
      Appleway Blvd, Spokane, WA 99212
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      Spokane Land For Sale

      Land available in Spokane, Washington.
      8610 W Whitman Ave, Spokane, WA 99212
      View Details
    • $198,900
      33,541 SF

      Spokane Land Zoned for Development

      Land suitable for multi-family or income-generating property development.
      4803 East 6Th Ave, Spokane, WA 99212
      View Details
    • Contact for pricing

      Anchored Retail Building For Sale

      Retail building 100% leased, anchored by Big 5 Sporting Goods.
      Spokane, WA 99212
      View Details
    • Contact for pricing
      15,000 SF

      Retail/Warehouse Space Available For Lease

      15,000 SF retail/warehouse space available Spring 2025.
      4630 E Sprague Ave, Spokane, WA 99212
      View Details
    • $1,695,000
      Pending

      Spokane Valley Commercial Property

      Commercial property with multiple buildings and redevelopment potential in Spokane Valley.
      8814 E Sprague Ave, Spokane Valley, WA 99212
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Fenced Yard for Lease

      Fenced yard available for lease.
      107 N Park Rd, Spokane Valley, WA 99212
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    • Contact for pricing

      Retail Space on Argonne Road

      Retail space available in Spokane, WA, with ample parking.
      101 N Argonne Rd, Spokane, WA 99212
      View Details
    • $5,500 /Mo

      Retail Space Near Major Retailers

      4,000 SF retail space with high-visibility frontage on Sprague Avenue.
      5428 E Sprague Ave, Spokane Valley, WA 99212
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      6,952 square feet of retail space for lease.
      5207 E Trent Ave, Spokane, WA 99212
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Retail, office, and flex spaces available for lease.
      6818 E Sprague Ave, Spokane Valley, WA 99212
      View Details
    • Contact for pricing

      Retail Space on Sprague Avenue

      Retail space with easy I-90 access and high traffic.
      5320 E Sprague Ave, Spokane Valley, WA 99212
      View Details
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    4603 Sprague Ave
    Spokane Valley, WA 99212
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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.

    More about this property
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