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    16823 Sprague Ave Spokane Valley, WA 99037-9855

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    16823 Sprague Ave Spokane Valley, WA 99037-9855

    View on Map
    • Outlet malls
    • 5,788 SF
    • 2.86 lot acres
    Off-Market
    Property ID
    US90-0861835
    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
    $695,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Moore Storage / Storage Facility
    • Spokane PhotoBooth and Event DJs / Nightclub / Music Venue
    • Auto-Rain/SiteOne Supply - Veradale, WA / Garden Center / Hardware & Home Improvement
    • SiteOne Landscape Supply / Garden Center / Hardware & Home Improvement
    • Auto Rain Sprinkler Supply / General Contractor / Construction Company

    Property Details for 16823 Sprague Ave

    Year built
    1994
    Lot size
    2.86 lot acres
    Property size
    5,788 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    45134.1776
    APU
    451341776

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $895,000
      6.5%
      $825,000
      7%
      $765,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $915,000
      Current use
      COMMERCIAL (GENERAL)
      $880,000
      Change: -4% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $740,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.178
    Latitude
    47.658
    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
    $16,899
    $435,880
    $1,139,400
    $1,575,280
    -
    $435,880
    $1,139,400
    $1,575,280

    Comparable in this City

    • Value Estimation
      $2,070,000
      36,340 SF

      16814 Sprague Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 36,340 SF
      16814 Sprague Ave, Spokane Valley, WA 99037-8980
      View Details
    • Value Estimation
      $950,000
      720 SF

      17 Florida Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 720 SF
      17 Florida Rd, Spokane, WA 99037
      View Details
    • Value Estimation by Request
      1,984 SF

      16628 Sprague Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 1,984 SF
      16628 Sprague Ave, Veradale, WA 99037
      View Details
    • Value Estimation
      $860,000
      8,700 SF

      16923 Sprague Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 8,700 SF
      16923 Sprague Ave, Spokane Valley, WA 99037-9859
      View Details
    • Value Estimation
      $2,435,000
      31,353 SF

      15505 Broadway Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 31,353 SF
      15505 Broadway Ave, Spokane Valley, WA 99037-9251
      View Details
    • Value Estimation
      $11,380,000
      170,699 SF

      15609 Sprague Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 170,699 SF
      15609 Sprague Ave, Spokane Valley, WA 99037-8901
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      26,186 SF

      Retail Center Anchored by Safeway

      Retail center for sale or lease with national tenants.
      14024 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • $850,000
      2,784 SF

      Retail Building with Car Bays

      Single tenant retail building with excellent visibility and signage.
      14009 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • $1,350,000

      Sprague Avenue Frontage Opportunity

      2.03 acre site with retail, office, and warehouse space.
      14909 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • Contact for pricing
      10,464 SF

      Sprague Avenue Redevelopment Opportunity

      1.7-acre commercial land for redevelopment in Spokane Valley.
      15612 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • Contact for pricing
      2,738 SF

      Established Spokane Valley Pub ForSale

      Well-established pub with full kitchen and ample parking.
      11723 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • Contact for pricing
      6,300 SF

      Retail Investment Opportunity Available

      Retail property with tenant leases and income potential.
      11809 E Sprague Ave, Spokane Valley, WA 99037
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      High Visibility Retail Center

      Retail center with income potential in Spokane Valley, WA.
      8401 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • $25 SF/Yr

      Retail Space in Gesa Center

      Retail and office spaces with high visibility and accessibility.
      509 N Sullivan Rd, Veradale, WA 99037
      View Details
    • Contact for pricing

      Retail Space in Spokane Valley

      Retail space available in a newly renovated Spokane Valley location.
      15320 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • Contact for pricing
      15,000 SF

      Spokane Valley Retail Space Available

      Retail space available for lease in Spokane Valley, Washington.
      13024-13028 E Sprague Ave, Spokane Valley, WA 99037
      View Details
    • $35 SF/Yr
      24,000 SF

      Spokane Valley Medical/Retail Opportunity

      New construction build-to-suit medical or retail space in Spokane Valley.
      606 N Evergreen Rd, Spokane Valley, WA 99037
      View Details
    • Contact for pricing

      Retail Store on Sprague Avenue

      Retail space for sale, leased through April 2028.
      11812 E Sprague Ave, Spokane Valley, WA 99037
      View Details
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    Spokane Valley, WA 99037-9855
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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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