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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.

Sprague Ave E 5605 - EN

PROPERTY FACTS

Sale Type

Investment or Owner User

Property Type

Retail

Property Subtype

Freestanding

Building Size

38,016 SF

Building Class

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

Parking

214 Spaces (5.63 Spaces per 1,000 SF Leased)

Frontage

268’ on E Sprague

Bus Line

Freeway Visibility

MAJOR TENANTS

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 is a discount variety store offering a range of everyday household goods including cleaning supplies, groceries, health and beauty items, party supplies, toys, school products, and seasonal décor. As part of a multi-unit national retail chain, this store integrates retail convenience, value pricing, and a consistent product mix alongside its broader corporate network. The brand continues to focus on store network expansion and community accessibility.