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Shopping Strip

Valley Plaza

13414 E Sprague Ave, Spokane Valley, WA 99216

Listing Price: $8,500,000

Cap Rate
6.80%
Gross SF
105,901
Rentable SF
105,901
Price/Gross SF
$80.26
Lot Size
14.36 acres
Year Built
1986

Investment Overview

This rare opportunity to own a shopping center features multiple development ready pad-sites anchored by Ashley Furniture. Valley Plaza Shopping Center is 100% occupied with 60% of current tenants having been at the Property for over 10 years. In 2020, Ashley furniture signed a new low-rent 10-year NNN lease, showing commitment to the location and opportunity for rent upside. The Property is located in the rapidly growing Spokane, WA MSA which has grown by over 19% in the last decade and features annual household incomes in excess of $80,000/year.

Investment Highlights

  • 8.21% CAP RATE WITH COVID TESTING SITE IN PARKING LOT
  • VALUE-ADD SHOPPING CENTER/MULTIPLE PAD-SITES READY FOR DEVELOPMENT
  • ASHLEY FURNITURE NEW 10-YEAR NNN LEASE
  • LOW RENT ON ANCHOR TENANT SPACE
  • RECENTLY RENOVATED/UPDATED
  • LOCATED IN HIGH-GROWTH SUBMARKET
  • LARGE 14.36 ACRE LOT WITH AMPLE PARKING
  • PRICED WELL BELOW REPLACEMENT COST

Exclusively Listed By

Shopping Strip

Valley Plaza

Listing Price: $8,500,000

Cap Rate
6.80%
Gross SF
105,901
Rentable SF
105,901
Price/Gross SF
$80.26
Lot Size
14.36 acres
Year Built
1986

Investment Highlights

  • 8.21% CAP RATE WITH COVID TESTING SITE IN PARKING LOT
  • VALUE-ADD SHOPPING CENTER/MULTIPLE PAD-SITES READY FOR DEVELOPMENT
  • ASHLEY FURNITURE NEW 10-YEAR NNN LEASE
  • LOW RENT ON ANCHOR TENANT SPACE
  • RECENTLY RENOVATED/UPDATED
  • LOCATED IN HIGH-GROWTH SUBMARKET
  • LARGE 14.36 ACRE LOT WITH AMPLE PARKING
  • PRICED WELL BELOW REPLACEMENT COST

Investment Overview

This rare opportunity to own a shopping center features multiple development ready pad-sites anchored by Ashley Furniture. Valley Plaza Shopping Center is 100% occupied with 60% of current tenants having been at the Property for over 10 years. In 2020, Ashley furniture signed a new low-rent 10-year NNN lease, showing commitment to the location and opportunity for rent upside. The Property is located in the rapidly growing Spokane, WA MSA which has grown by over 19% in the last decade and features annual household incomes in excess of $80,000/year.

Exclusively Listed By

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