14820 Sprague Ave Spokane Valley, WA 99216-2149
- Warehouses
- 28,140 SF
- 4.17 lot acres
Jan 17, 2020
Current Use by Public Records
- Monaco Enterprises Inc. / Production Facility / Building Supply
Property Details for 14820 Sprague Ave
- Year built
- 1969
- Lot size
- 4.17 lot acres
- Property size
- 28,140 SF
- Property type
- Warehouses
- APN
- 45231.0524
- APU
- 452310524
Description
This exceptional investment opportunity presents a 37,417-square-foot manufacturing facility situated on a 3.95-acre lot at 14820 E Sprague Ave, Spokane Valley, WA 99216. The property, built in 1969 and renovated in 1988 and 2002, is currently 100% occupied under a single-tenant, absolute triple-net (NNN) lease with Monaco Enterprises. The lease commenced January 16, 2020, and has a remaining term of approximately 15.2 years, expiring January 31, 2040. The annual net operating income (NOI) is $344,262, representing a 6.50% cap rate based on the asking price of $5,296,338 ($141.55 per square foot). The lease features a corporate guarantee and includes a 2% annual rent increase throughout the base term and a 10-year renewal option. This is a long-term, stable investment with a strong tenant and significant upside potential. The property's location in Spokane Valley provides excellent access to transportation and infrastructure. This is a rare opportunity to acquire a high-quality, mission-critical manufacturing facility with a long-term, secure lease. The property offers a compelling combination of strong cash flow, long-term stability, and significant appreciation potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,115,000
- ML approach
- $4,095,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,065,000
- 6.5%
- $2,830,000
- 7%
- $2,625,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,373,000
Market price range: $2.04M - $4.52M -
Alternative Use
- Use
- Estimation
- WAREHOUSE, STORAGE
- $3,340,000 Current use
- RESTAURANT
- $6,095,000 Change: +82% Conversion: Difficult
- OFFICE BUILDING
- $6,085,000 Change: +82% Conversion: Difficult
- MEDICAL BUILDING
- $5,715,000 Change: +71% Conversion: Difficult
- RETAIL STORES
- $4,500,000 Change: +35% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $4,275,000 Change: +28% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Spokane Valley
- County
- Spokane
- State
- Washington
- Longitude
- -117.205
- Latitude
- 47.6561
- CBSA code
- 44060
- CBSA name
- SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
