Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    12124 Sprague Ave Spokane Valley, WA 99206-5147
    Back to Search
    Property profile & analytics

    12124 Sprague Ave, Spokane Valley, WA 99206-5147

    View on Map
    • Bars & Pubs
    • 1,647 SF
    • 0.10 lot acres
    Off-Market
    Last Sale Feb 17, 2021
    $614,286
    Property ID
    US90-1693073
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $515,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dave's Bar and Grill / Restaurant
    • sdefret5r / Bar & Pub

    Property Details for 12124 Sprague Ave

    Year built
    1921
    Lot size
    0.10 lot acres
    Property type
    Bars & Pubs
    Property subtype
    Pubs
    APN
    45211.0106
    APU
    452110106

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 10, 2022 — Addilane Properties LLC — Deed · related $650k · Cold Barrels INC
    Feb 17, 2021 — Suvid Properties LLC David J Thompson Quit Claim Deed · related —
    Aug 12, 2010 — David J Thompson Opportunity Property Dev LLC Quit Claim Deed · related —
    May 13, 2009 — David J Thompson Gilbert,jenyce L Quit Claim Deed · related —
    — — David J Thompson — Deed Of Trust · related $30k · Farmers & Merchants Bk Rockfor
    — — David J Thompson — Deed Of Trust · related $250k · Banner Bank
    — — David J Thompson — Deed Of Trust · related $30k · Farmers & Merchants Bk Rockfor
    — — David J Thompson — Deed Of Trust · related $87k · Farmers & Merchants Bk Rockfor
    — — David J Thompson — Deed Of Trust · related $80k · Banner Bank
    — — David J Thompson — Deed Of Trust · related $187k · Banner Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $475,000
      ML approach
      $495,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $378,000
      Market price range: $175k - $520k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $355,000
      Current use
      AUTO REPAIR, GARAGE
      $440,000
      Change: +24% Conversion: Difficult
      MEDICAL BUILDING
      $335,000
      Change: -6% Conversion: Difficult
      OFFICE BUILDING
      $310,000
      Change: -13% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.241
    Latitude
    47.6568
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,925
    $41,900
    $260,200
    $302,100
    -
    $41,900
    $260,200
    $302,100

    Comparable in this City

    • Value Estimation by Request
      4,225 SF

      12116 Sprague Ave

      BAR, TAVERN
      12116 Sprague Ave, Spokane Valley, WA 99206-5147
      View Details
    • Value Estimation by Request
      2,501 SF

      122 Bowdish Rd

      BAR, TAVERN
      122 Bowdish Rd, Spokane Valley, WA 99206-5342
      View Details
    • Value Estimation by Request
      5,208 SF

      11003 Sprague Ave

      BAR, TAVERN
      11003 Sprague Ave, Spokane Valley, WA 99206-5215
      View Details
    • Value Estimation
      $510,000
      2,120 SF

      21 Dishman Rd

      BAR, TAVERN
      21 Dishman Rd, Spokane Valley, WA 99206-3136
      View Details
    • Value Estimation by Request
      4,350 SF

      16 Robie Rd

      BAR, TAVERN
      16 Robie Rd, Spokane Valley, WA 99206-5325
      View Details
    • Value Estimation by Request
      3,601 SF

      415 Dishman Mica Rd

      BAR, TAVERN
      415 Dishman Mica Rd, Spokane Valley, WA 99206-3688
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Spokane Valley Turnkey Restaurant/Event Space

      Turnkey restaurant and event space in Spokane Valley.
      20 N Raymond Rd, Spokane Valley, WA 99206
      View Details
    • Contact for pricing

      Large Commercial Building on Sprague

      Substantial building on 4.6 acres in high-traffic retail corridor.
      10220 East Sprague Ave, Spokane Valley, WA 99206
      View Details
    • Contact for pricing

      Former Public Parking Lot

      Asphalt parking lot with multiple curb cuts available for sale.
      109-111 N Perrine Rd, Spokane Valley, WA 99206
      View Details
    • Contact for pricing
      13,419 SF

      Prime Retail Space on Mullan

      Retail space available in high-traffic Spokane Valley location.
      1300-1312 N Mullan Rd, Spokane, WA 99206
      View Details
    • $965,000
      1,228 SF

      Spokane Valley Mixed-Use Opportunity

      Two parcels with commercial building and home on 0.95 acres.
      11619 Trent Ave, Spokane, WA 99206
      View Details
    • Contact for pricing
      4,730 SF

      Retail Space with Planned Renovations

      Retail space for rent with upcoming improvements.
      21 N Skipworth Rd, Spokane Valley, WA 99206
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail/Restaurant Space For Lease

      Retail and restaurant spaces available for lease.
      2128 N Pines Rd, Spokane Valley, WA 99206
      View Details
    • Contact for pricing

      Large Commercial Building For Lease

      Substantial commercial building on a large site in high-traffic area.
      10220 East Sprague Ave, Spokane Valley, WA 99206
      View Details
    • $1,750 /Mo

      Retail Space on Sprague Avenue

      Retail property for lease with high traffic volume.
      Spokane St, Valley, WA 99206
      View Details
    • Contact for pricing
      5,104 SF

      Spokane Valley Service Repair Building

      0.73-acre CMU zoned land with 5,104 SF service building.
      10415 E Sprague Ave, Spokane, WA 99206
      View Details
    • $12 SF/Yr

      Spokane Valley Retail/Office Space

      Available retail/office spaces in Spokane Valley, ranging from 353± SF.
      122 N University Rd, Spokane Valley, WA 99206
      View Details
    • Contact for pricing
      2,310 SF

      Retail Space Available For Rent

      Retail space available for lease in Spokane Valley, WA.
      9126 E Sprague Ave, Spokane Valley, WA 99206
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12124 Sprague Ave
    Spokane Valley, WA 99206-5147
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    12124 Sprague Ave, Spokane Valley, WA, 99206
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!