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1850 Division st 2,989 SF Retail Building Spokane, WA 99207 $2,620,000 ($876.55/SF) 5.40% Cap Rate
INVESTMENT HIGHLIGHTS
- 2025 Construction with 15-year absolute NNN ground lease with no landlord responsibilities
- Spokane is the 2nd largest city in Washington State
- Valvoline has over 2,000 locations in the United States and Canada with plans to expand to 3,500 locations in North America
- Valvoline Corporate Guaranteed lease
- 10% rental increases every 5 years throughout initial term and beginning of each option period
- Located on a signalized hard corner with over 40,000 VPD
EXECUTIVE SUMMARY
Kidder Mathews is pleased to present the opportunity to acquire a new construction Valvoline, strategically positioned in rapidly growing Spokane, WA. This opportunity features extremely strong real estate fundamentals with a 15-year ground lease featuring no landlord responsibilities located in the 2nd largest city in Washington State.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,989 SF
Building Class
B
Year Built
2025
Price
$2,620,000
Price Per SF
$876.55
Cap Rate
5.40%
NOI
$141,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
0.48 AC
Zoning
GC - General Commercial
Frontage
Walk Score®
Very Walkable (86)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 35083.1904 | Improvements Assessment | $0 |
| Land Assessment | $553,800 | Total Assessment | $553,800 |
PROPERTY TAXES
Parcel Number
35083.1904
Land Assessment
$553,800
Improvements Assessment
$0
Total Assessment
$553,800
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1850 Division st
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