4023 Sprague AveSpokane, WA 99202

Property Details for 4023 Sprague Ave

Year built

1955

Lot size

0.51 AC

Property size (Sq ft)

5,238 SF

Property type

Retail properties

Property subtype

Retail space

APN

35154.4803

APU

351544803

Description

This exceptional Spokane, WA retail investment opportunity encompasses ±1.06 acres of prime commercial real estate on Sprague Avenue, boasting approximately 14,737 square feet of building space across two buildings. The property features ±385 feet of frontage along this high-traffic arterial, placing it in close proximity to major retailers such as Costco, Home Depot, Lowe's, and Walmart, ensuring high visibility and accessibility. The two buildings offer diverse options. One building, constructed in 1955, offers approximately 7,031 square feet on a 0.51-acre lot (APN 35154.4803). The second building, built in 1929 (retail portion) and 2001 (mini-storage portion), comprises approximately 7,706 square feet (3,106 sq ft retail and 4,600 sq ft mini-storage) on a 0.51-acre lot (APN 35154.4905). Both parcels are zoned General Commercial with a 70-foot height limit (GC-70), presenting a multitude of development possibilities. The asking price for this combined property is $1,500,000. The property's location at 4023 & 4107 E Sprague Ave, Spokane, WA 99202, offers unparalleled exposure and potential for significant return on investment. This is a rare chance to acquire a substantial retail property in a thriving Spokane location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,336,856

  6.5%

  $1,234,021

  7%

  $1,145,876

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,814,321

  Geo Method

  $2,814,321

• Alternative Use

  Use

  Valuation

  Residential

  $1,040,943

  Hospitality

  $953,498

  Educational

  $793,299

  Medical

  $820,582

  Retail

  $1,234,021

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6575

Longitude

-117.35

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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