Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4824 Sprague Ave Spokane Valley, WA 99212-5002

    This retail property is located in Spokane Valley, Washington. The building offers 3,990 square feet of living area and is situated on a 0.5-acre lot.
    • Retail properties
    • 3,990 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    May 01, 2025
    $850,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-3271161
    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.

    Current Use by Public Records

    • Dragon Garden Chinese Restaurant Now (AK Asian Restaurant) / Chinese Restaurant / Asian Restaurant
    • Maple Tree Motel & RV Park / Motel
    • AK Asian Restaurant / Restaurant

    Property Details for 4824 Sprague Ave

    Year built
    1950
    Lot size
    0.50 lot acres
    Property size
    3,990 SF
    Property type
    Retail properties
    APN
    35232.0304
    APU
    352320304

    Property Overview

    This retail property is located in Spokane Valley, Washington. The building offers 3,990 square feet of living area and is situated on a 0.5-acre lot.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.339
    Latitude
    47.6569
    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
    $8,285
    $259,200
    $212,200
    $471,400
    -
    $259,200
    $212,200
    $471,400

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      7323 Trent Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 0.13 Acres
      7323 Trent Ave, Spokane Valley, WA 99212-1233
      View Details
    • Value Estimation by Request
      0.15 Acres

      Spokane, WA 99212

      SERVICE SHOP (TV, ELECTRIC, PLUMBING) • 0.15 Acres
      Spokane, WA 99212
      View Details
    • Value Estimation by Request
      4.58 Acres

      1441 Argonne Rd

      RETAIL STORES (PERSONAL SERVICES) • 4.58 Acres
      1441 Argonne Rd, Spokane Valley, WA 99212-2685
      View Details
    • Value Estimation by Request
      432 SF

      5320 Mallon Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 432 SF
      5320 Mallon Ave, Spokane, WA 99212
      View Details
    • Value Estimation by Request
      3,200 SF

      6317 Sharp Ave

      AUTO REPAIR, GARAGE • 3,200 SF
      6317 Sharp Ave, Spokane Valley, WA 99212-1246
      View Details
    • Value Estimation by Request
      2,048 SF

      7210 Sprague Ave

      AUTO REPAIR, GARAGE • 2,048 SF
      7210 Sprague Ave, Spokane Valley, WA 99212-0631
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Anchored Retail Building For Sale

      Retail building 100% leased, anchored by Big 5 Sporting Goods.
      Spokane, WA 99212
      View Details
    • $1,500,000
      7,286 SF

      Retail/Office Building Former Bank

      Retail/Office building on high traffic Argonne Rd.
      2716 N Argonne Rd, Spokane, WA 99212
      View Details
    • $750,000
      550 SF

      Prime Millwood Office/Retail Opportunity

      Vacant, high-traffic corner lot, redevelopment potential
      2821 Argonne Rd & 9012, Millwood, WA 99212
      View Details
    • $1,695,000
      1.40 Acres

      Spokane Valley Commercial Property

      Commercial property with multiple buildings and redevelopment potential in Spokane Valley.
      8814 E Sprague Ave, Spokane Valley, WA 99212
      View Details
    • $800,000
      1,856 SF

      Spokane Valley Commercial Corner Property

      High-visibility commercial property with established bar, residence, and investment potential.
      2208 N Park Rd, Spokane, WA 99212
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      6,952 SF

      Retail Space Available For Rent

      6,952 square feet of retail space for lease.
      5207 E Trent Ave, Spokane, WA 99212
      View Details
    • $5,200,000
      15,000 SF

      Retail/Warehouse Space Available For Lease

      15,000 SF retail/warehouse space available Spring 2025.
      4630 E Sprague Ave, Spokane, WA 99212
      View Details
    • $5,500 /Mo
      4,000 SF

      Retail Space Near Major Retailers

      4,000 SF retail space with high-visibility frontage on Sprague Avenue.
      5428 E Sprague Ave, Spokane Valley, WA 99212
      View Details
    • $12 SF/Yr
      14,950 SF

      Retail Space on Argonne Road

      Retail space available in Spokane, WA, with ample parking.
      101 N Argonne Rd, Spokane, WA 99212
      View Details
    • Contact for pricing
      9,520 SF

      Argonne Road Retail Center

      Spokane Valley retail space available.
      1521 Argonne Rd, Spokane Valley, WA 99212
      View Details
    • $18 SF/Yr
      19,780 SF

      Spokane Valley Retail Space For Lease

      High-traffic retail space, 1,620 sq ft available.
      5320 Sprague Ave, Spokane Valley, WA 99212
      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.
    4824 Sprague Ave
    Spokane Valley, WA 99212-5002
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.