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209 E Sprague Ave 5,280 SF 100% Leased Retail Building Spokane, WA 99202 $750,000 ($142.05/SF) 8.23% Cap Rate
INVESTMENT HIGHLIGHTS
- 7 Fully Occupied Condo Units
- 2 Retail Units: 1,200 SF, 14’ High Ceilings
- 2 Shop/Storage Units with Fenced Yard
- New TPO Roof
- 3 Apartment Units: 1- 2 Bed/1 Bath Unit, 2- 1 Bed/1 Bath Units
EXECUTIVE SUMMARY
Fully leased investment property producing $7,545/month in rental income. Includes a total of seven condo units. Two retail spaces with 14’ ceilings (approx. 1,200 SF each), and three apartments (one 2 bed/1 bath, two 1 bed/1 bath). Two shop/storage units with fenced yard provide additional income and utility. TPO roof replaced in 2025.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,280 SF
Building Class
B
Year Built
1925
Price
$750,000
Price Per SF
$142.05
Cap Rate
8.23%
NOI
$61,744
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.81
Lot Size
0.15 AC
Opportunity Zone
Yes
Zoning
DTU
Parking
15 Spaces (2 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (87)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $223,400 | |
| Land Assessment | $0 | Total Assessment | $223,400 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$223,400
Total Assessment
$223,400
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209 E Sprague Ave
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