14408 Sprague Ave, Spokane Valley, WA 99216-2167

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.