9507 Sprague Ave Spokane Valley, WA 99206-3616
- Office buildings
- 6,584 SF
- 0.30 lot acres
Feb 23, 2025
Current Use by Public Records
- Convertec / Computer Store / Telephone Company
- ATS Inland NW / Engineering Consultant
Property Details for 9507 Sprague Ave
- Year built
- 1968
- Construction
- STEEL FRAME
- Lot size
- 0.30 lot acres
- Property size
- 6,584 SF
- Property type
- Office buildings
- APN
- 45173.1610
- APU
- 451731610
Description
This exceptional investment opportunity presents a 6,584 square foot Class B executive office building located at 9507 E Sprague Ave, Spokane Valley, WA 99206. The property, built in 1968 and extensively renovated in 2017, sits on a 0.8-acre lot and boasts 37 parking spaces. Currently operating at 100% occupancy under a triple-net (NNN) lease, this single-tenant property offers a strong, long-term investment prospect. The asking price is $1,375,000, representing a compelling $209 per square foot and a 7.63% capitalization rate based on a net operating income (NOI) of $98,760. A new five-year lease is in place with an option to extend, providing significant income stability. The building has undergone several efficiency upgrades, including HVAC improvements, further enhancing its value and operational efficiency. This property represents a rare opportunity to acquire a well-maintained, high-performing asset in a desirable Spokane Valley location. The included 0.5-acre additional lot provides potential for future expansion or development. This is a turnkey investment ready for immediate income generation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Spokane Valley
- County
- Spokane
- State
- Washington
- Longitude
- -117.277
- Latitude
- 47.6573
- CBSA code
- 44060
- CBSA name
- SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
