9507 Sprague AveSpokane Valley, WA 99206

For Sale
$1,375,000

High-Cap Rate Office Investment, 100% Occupied

Overview

Added:
Dec 11, 2024
Days on market:
93
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.

Highlights

  • NNN investment opportunity.
  • Strong, long-term tenant currently occupies the property.
  • New 5-year lease with extension option.
  • Recently renovated building.
  • Building features upgraded HVAC and other efficiency improvements.
  • Includes a half-acre surplus lot.

Property Details for 9507 Sprague Ave

Property type
Other office properties, Office properties
Square Feet
6,584 SF
Class
B
Year Built/Renovated
1968/2017
Lot Size (sq. ft)
34,848 SF

Location Insight

City
Spokane Valley
County
Spokane
State
Washington
Latitude
47.6575192
Longitude
-117.2770457
9507 Sprague Ave, Spokane Valley, Washington

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
9507 Sprague Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message