14408 Sprague Ave Spokane Valley, WA 99216-2167
Property profile & analytics
14408 Sprague Ave Spokane Valley, WA 99216-2167
- Medical Office Space
- 16,452 SF
- 1.81 lot acres
Property ID
US90-0788782
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.
Location Intelligence
Current Use by Public Records
- MultiCare Valley ENT / Medical Clinic / Physician
- MultiCare Rockwood Diabetes & Endocrinology Center - Spokane Valley / Medical Clinic
- Ms. Jocelyn Korasick / Pediatrician / Physician
- Portia Kamps, PA-C, ATC / Pediatrician / Physician
- Grim Tamara B MD / Pediatrician / Physician
Property Details for 14408 Sprague Ave
- Year built
- 1987
- Construction
- STEEL FRAME
- Lot size
- 1.81 lot acres
- Property size
- 16,452 SF
- Property type
- Medical Office Space
- Property subtype
- Medical centers
- APN
- 45232.9143
- APU
- 452329143
Description
This exceptional investment opportunity presents two attached Class A medical office buildings totaling approximately 21,350 square feet, situated on a substantial 78,685 square foot lot in Spokane Valley, Washington (zip code 99216). The property, identified by APN 45232.9143, boasts a compelling asking price of $6,000,000, translating to $281.03 per square foot. The buildings offer a strong 7.12% cap rate, projected to average 7.41% over the lease term. Building one, constructed in 1987, encompasses approximately 9,250 square feet, while the second building, built in 1996, offers approximately 12,100 square feet. Both buildings are currently leased to MultiCare Health System under a new 5-year lease commencing June 1, 2024, featuring a favorable 3% annual escalation clause and a triple net (NNN) lease structure. Building one includes an imaging center. This is a rare opportunity to acquire a stable, high-quality medical office portfolio with a secure, long-term lease and significant upside potential. The property's location in Spokane Valley provides excellent access to a thriving healthcare market. This offering presents a compelling investment opportunity for discerning buyers seeking strong returns and long-term stability in the medical office sector.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Spokane Valley
- County
- Spokane
- State
- Washington
- Longitude
- -117.211
- Latitude
- 47.6564
- 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
$30,289
$591,330
$2,515,600
$3,106,930
-
$591,330
$2,515,600
$3,106,930
