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5605 E Sprague Ave 38,016 SF 100% Leased Retail Building Spokane, WA 99212 $8,500,000 ($223.59/SF) 6.55% Cap Rate

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Executive Summary

Exceptional fully leased investment opportunity positioned as an outparcel to Costco, offering strong visibility and traffic counts along Sprague Avenue. The property is anchored by a complementary mix of national and regional tenants, including Dollar Tree, Boot Barn, and Aslin Finch, providing stable income and long-term appeal.
The site also offers future upside with the potential to develop an additional pad fronting Sprague Avenue, enhancing value through expansion or redevelopment. Strategically located within a high-demand retail corridor, this asset presents an attractive opportunity for investors seeking reliable cash flow with built-in growth potential.

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
38,016 SF
Building Class
B
Year Built
1999
Price
$8,500,000
Price Per SF
$223.59
Cap Rate
6.55%
NOI
$556,549
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.21
Lot Size
4.25 AC
Zoning
RC
Parking
214 Spaces (5.63 Spaces per 1,000 SF Leased)
Frontage
268’ on E Sprague

Amenities

  • Bus Line
  • Freeway Visibility

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • -
  • Triple Net
  • -

Your Online General Store! Shop the casual lifestyle collection of comfortable clothing, sweatshirts, tees, accessories, sparkling jewelry, home décor and special gifts. You'll find heartwarming seasonal selections too. There’s something for everyone inside Country Store. Country Store was founded in 1973 and is part of Potpourri Group Inc. (PGI). From a single catalog title published in 1963, today PGI headquartered in North Billerica, Massachusetts is one of the largest multi-channel direct marketers in America.

  • Retailer
  • -
  • $15.81
  • Triple Net
  • Sep 2029

Dollar Tree, Inc. is a major North American discount retailer headquartered in Chesapeake, Virginia. The company operates a large network of small-format stores across the United States and Canada, offering low-priced consumables, household goods, seasonal merchandise, health and beauty products, and snacks. Dollar Tree is widely recognized for its fixed-price strategy, selling most products at a set low price point through its Dollar Tree banner, while its Family Dollar banner offers everyday low-cost merchandise across variable price ranges. Corporate operations at the Chesapeake headquarters oversee merchandising, supply chain, marketing, finance, human resources, and real estate activities supporting thousands of stores nationwide. Dollar Tree emphasizes convenience, value, and efficient distribution, with additional support from multiple distribution centers throughout North America.

  • Precision Auto Glass
  • -
  • -
  • -
  • -
  • -
Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - - Triple Net -
Retailer - $15.81 Triple Net Sep 2029
Precision Auto Glass - - - - -

Nearby Major Retailers

Sunbelt Rentals
CrossFit
Starbucks
United Rentals
Grocery Outlet
Banner Bank

Property Taxes

Property Taxes

Parcel Number
35144.9099
Land Assessment
$1,472,040
Improvements Assessment
$5,481,600
Total Assessment
$6,953,640
  • Listing ID: 38890898

  • Date on Market: 12/23/2025

  • Last Updated:

  • Address: 5605 E Sprague Ave, Spokane, WA 99212

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