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    Property profile & analytics

    9119 Broadway Ave Spokane Valley, WA 99206-3895

    • Retail space
    • 6,701 SF
    • 0.97 lot acres
    OFF-MARKET
    Last Sale
    Mar 13, 2025
    Value Estimations
    $880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1546821
    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

    • www.fastlanedrivingacademy.com / Training Center / Vocational School
    • TC Golf Academy / Golf Instructor
    • Bratcher Elizabeth M / Physician
    • Starbucks / Cafe & Coffee Shop
    • Weldon Barber / Barber Shop

    Property Details for 9119 Broadway Ave

    Year built
    2004
    Construction
    STEEL FRAME
    Lot size
    0.97 lot acres
    Property size
    6,701 SF
    Property type
    Retail space
    APN
    45172.1230
    APU
    451721230

    Description

    This exceptional retail property, located at 9119 E Broadway Avenue in Spokane Valley, Washington, offers a prime opportunity for businesses seeking high visibility and convenient access. Built in 2004, the 6,701 square foot building sits on a 0.98-acre lot (approximately 42,330 square feet), providing ample space and excellent exposure on Broadway Avenue, situated between N Argonne Road and N Mullan Road. The property is currently configured for multiple tenants, with one retail space of 1,250 square feet immediately available. A total of 2,500 square feet is currently vacant, presenting a unique chance to customize space to meet specific business needs. The property's location in Spokane County, Washington, zip code 99206, ensures easy access for customers and employees. This well-maintained building presents a strong investment opportunity for businesses seeking a high-traffic location in a thriving Spokane Valley commercial corridor. The property's size and configuration offer flexibility for a variety of retail uses, making it an ideal choice for expanding businesses or new ventures. The ample lot size also allows for potential future expansion or outdoor amenities. This is a rare opportunity to secure a prominent retail space in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,035,000
      6.5%
      $955,000
      7%
      $890,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $682,000
      Market price range: $119k - $687k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,060,000
      Current use
      RESTAURANT
      $1,450,000
      Change: +37% Conversion: Easy
      MEDICAL BUILDING
      $1,360,000
      Change: +28% Conversion: Difficult
      OFFICE BUILDING
      $1,260,000
      Change: +19% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,020,000
      Change: -4% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $855,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.282
    Latitude
    47.6646
    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
    $12,613
    $296,310
    $919,600
    $1,215,910
    -
    $296,310
    $919,600
    $1,215,910

    Comparable in this City

    • Value Estimation
      $1,815,000
      13,419 SF

      1312 Mullan Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,419 SF
      1312 Mullan Rd, Spokane Valley, WA 99206-4089
      View Details
    • Value Estimation by Request
      616 SF

      11518 Dishman Mica Rd

      RETAIL STORES (PERSONAL SERVICES) • 616 SF
      11518 Dishman Mica Rd, Spokane Valley, WA 99206-9490
      View Details
    • Value Estimation
      $1,405,000
      12,016 SF

      11304 Sprague Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,016 SF
      11304 Sprague Ave, Spokane, WA 99206
      View Details
    • Value Estimation by Request
      1,850 SF

      10301 Trent Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,850 SF
      10301 Trent Ave, Millwood, WA 99206-4514
      View Details
    • Value Estimation
      $645,000
      3,840 SF

      1225 Mullan Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,840 SF
      1225 Mullan Rd, Spokane Valley, WA 99206-4030
      View Details
    • Value Estimation
      $1,015,000
      14,753 SF

      12012 Sprague Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,753 SF
      12012 Sprague Ave, Spokane Valley, WA 99206-5100
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,419 SF

      Prime Retail Space on Mullan

      Retail space available in high-traffic Spokane Valley location.
      1300-1312 N Mullan Rd, Spokane, WA 99206
      View Details
    • New
      $965,000
      1,228 SF

      Spokane Valley Mixed-Use Opportunity

      Two parcels with commercial building and home on 0.95 acres.
      11619 Trent Ave, Spokane, WA 99206
      View Details
    • Contact for pricing

      Large Commercial Building on Sprague

      Substantial building on 4.6 acres in high-traffic retail corridor.
      10220 East Sprague Ave, Spokane Valley, WA 99206
      View Details
    • $750,000
      1,368 SF

      Sprague Ave Commercial Property

      Vacant Spokane Valley Office/Retail Space
      11813 Sprague Ave, Spokane Valley, WA 99206
      View Details
    • $1,700,000
      2.81 Acres

      Spokane Commercial Land For Sale

      2.81 acres zoned Corridor/Mixed Use in Spokane, Washington.
      10300 E Appleway Blvd, Spokane, WA 99206
      View Details
    • New
      $499,975
      Pending

      Spokane Valley Duplex Opportunity

      Desirable duplex with income potential on a spacious lot.
      919 S Houk Rd, Spokane, WA 99206
      View Details

    Similar Nearby for Lease

    • $1,411 /Mo

      Retail Space Near WinCo

      Retail space available near WinCo and University Road.
      9827 E Sprague Ave, Spokane Valley, WA 99206
      View Details
    • $22 SF/Yr
      7,617 SF

      Retail Space on Broadway Avenue

      Retail space available for lease on Broadway Avenue.
      16001 E Broadway Ave, Spokane, WA 99206
      View Details
    • $1,750 /Mo

      Retail Space on Sprague Avenue

      Retail property for lease with high traffic volume.
      11510-11530 E Sprague Ave, Spokane Valley, WA 99206
      View Details
    • $14 SF/Yr

      Spokane Valley Commercial Property For Sale

      Commercial property in Spokane Valley with ample parking and signage.
      11707 E Sprague Ave, Spokane Valley, WA 99206
      View Details
    • $12 SF/Yr

      Spokane Valley Retail/Office Space

      Available retail/office spaces in Spokane Valley, ranging from 353± SF.
      122 N University Rd, Spokane Valley, WA 99206
      View Details
    • Contact for pricing

      Large Commercial Building For Lease

      Substantial commercial building on a large site in high-traffic area.
      10220 East Sprague Ave, Spokane Valley, WA 99206
      View Details
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    9119 Broadway Ave
    Spokane Valley, WA 99206-3895
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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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