209 E Sprague Ave - Storefront Retail/Residential FOR SALE


Spokane, WA 99202- U-District
$750,000 USD
509-315-8720
209 E Sprague Ave, Spokane, WA for Sale
$750,000 USD
Storefront Retail/Residential - FOR SALE
1/12
null | 10.22% Cap Rate

209 E Sprague Ave
Spokane, WA 99202
U-District


HIGHLIGHTS

  • 6 Total Rental Units
  • New TPO Roof
  • 3 Apartment Units: 1- 2 Bed/1 Bath Unit, 1- 1 Bed/1 Bath Units, 1- Studio
  • 2 Shop/Storage Units with Fenced Yard
  • 2 Retail Units

OVERVIEW

This mixed-use investment property generates $8,695 per month in current rental income and features annual rent increases on both retail leases. The property includes six individual units plus a fenced yard with alley access, offering additional flexibility for tenants. Current rents are below market, providing a clear value-add opportunity through future rent growth. Recent capital improvements include a new roof, while the surrounding neighborhood continues to see ongoing revitalization and redevelopment. The property also benefits from new sidewalks and water/sewer stubs, enhancing its long-term development potential. Residential units feature views of downtown Spokane and Riverfront Park, and the location offers convenient access to the University District and is within walking distance of downtown, making it an attractive investment in one of Spokane's emerging urban corridors.

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$142 USD /SF

CAP RATE

10.22%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Office/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

DTU

APN/PARCEL ID

35173.1801,35173.1802,35173.1803,35173.1804,35173.1805,35173.1806,35173.1807,35173.1808

ASK ABOUT THIS PROPERTY

Dallas LightnerLT Real EstateMore Info
509-315-8720

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Dallas LightnerLT Real EstateMore Info
509-315-8720

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.