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ABSOLUTE $1 AUCTION...ABSOLUTE $1 AUCTION. LEASEHOLD INTEREST. No warranty nor representation,...

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ABSOLUTE $1 AUCTION LEASEHOLD INTEREST No warranty nor representation, expressed nor implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change in price, rental, or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals. BLDG SIZE ±90,449 SF GROUND LEASE DETAILS Commencement: June 26, 1986 Expiration: February 25, 2027 Current Annual Rent: $400,000 Options: Two, 5-Year options remaining PARCEL APN: 45221.9230 PROPERTY TYPE Retail Ground Lease LOCATION ADDRESS Former Shopko located at 13414 E Sprague Ave, Spokane Valley, WA 99216 The Property is located in the heart of Spokane Valley’s main commercial corridor with direct frontage on E Sprague Avenue. The Property is located within a few blocks from Several national retailers including Target, Planet Fitness, Safeway, Big Lots, Petco, Harbor Freight Tools, Wells Fargo, and Starbucks to name a few. Additionally, the Property is located within an established residential area with numerous residential properties surrounding including the newly constructed Blake Apartments, Orchard Crest Assisted Living, Keystone Apartments, and Adams Square Apartments. Interstate 90 passes through the State and the Property is strategically positioned only ±1.5 miles away from I-90 and 2 miles from Spokane Valley Mall. The Property offers excellent access and visibility with multiple points of egress/ingress along Sprague Avenue. FOR MORE INFORMATION ADAM SKLAVER (301) 706-4619 [email protected] LOT SIZE ±2.31 AC CHRIS BURDETT WA LIC#: 23186 [email protected]
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Page 1: ABSOLUTE $1 AUCTION...ABSOLUTE $1 AUCTION. LEASEHOLD INTEREST. No warranty nor representation, expressed nor implied, is made as to the accuracy of the information contained herein,

A B S O L U T E $ 1 A U C T I O NL E A S E H O L D I N T E R E S T

No warranty nor representation, expressed nor implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions, change in price, rental, or other conditions, withdrawal without notice, and to any special listing conditions, imposed by our principals.

B L D G S I Z E ±90,449 SF

G R O U N D L E A S E D E T A I L SCommencement: June 26, 1986 Expiration: February 25, 2027 Current Annual Rent: $400,000 Options: Two, 5-Year options remaining

P A R C E LAPN: 45221.9230

P R O P E R T Y T Y P ERetail Ground Lease

L O C A T I O N

A D D R E S S Former Shopko located at 13414 E Sprague Ave, Spokane Valley, WA 99216

The Property is located in the heart of Spokane Valley’s main commercial corridor with direct frontage on E Sprague Avenue. The Property is located within a few blocks from Several national retailers including Target, Planet Fitness, Safeway, Big Lots, Petco, Harbor Freight Tools, Wells Fargo, and Starbucks to name a few. Additionally, the Property is located within an established residential area with numerous residential properties surrounding including the newly constructed Blake Apartments, Orchard Crest Assisted Living, Keystone Apartments, and Adams Square Apartments. Interstate 90 passes through the State and the Property is strategically positioned only ±1.5 miles away from I-90 and 2 miles from Spokane Valley Mall . The Property offers excellent access and visibil ity with multiple points of egress/ingress along Sprague Avenue.

F O R M O R E I N F O R M A T I O N

A D A M S K L A V E R( 3 0 1 ) 7 0 6 - 4 6 1 9a d a m . s k l a v e r @ c b r e . c o m

L O T S I Z E ±2.31 AC

C H R I S B U R D E T TW A L I C # : 2 3 1 8 6c h r i s . b u r d e t t @ c b r e . c o m

Page 2: ABSOLUTE $1 AUCTION...ABSOLUTE $1 AUCTION. LEASEHOLD INTEREST. No warranty nor representation, expressed nor implied, is made as to the accuracy of the information contained herein,

D E M O G R A P H I C S

Radius 1 Mile 3 Mile 5 Mile

H O U S I N GMedian Home Value: $173,589 $191,679 $196,842

Median Year Built: 1985 1978 1978

C O N S U M E R S P E N D I N G

2018 Total Consumer Spending (in thousands)

134,537 721,633 1,214,227

D A Y T I M E E M P L O Y M E N T# Businesses 765 4,085 5,536

# Employees 6,126 39,869 54,900

Radius 1 Mile 3 Mile 5 Mile

P O P U L A T I O N2019 Total Population: 13,697 72,493 116,2412024 Population: 14,679 77,711 124,757Pop Growth 2019-2024: 7.17% 7.20% 7.33%Average Age: 38.80 38.10 39.00

H O U S E H O L D S2019 Total Households: 5,968 29,255 46,416HH Growth 2019-2024: 7.12% 7.29% 7.42%Median Household Inc: $44,999 $52,356 $56,172Avg Household Size: 2.30 2.40 2.50

Spokane was voted as ”Best

Mid-sized Cities to Visit, #3 Pacific

West”Reward Experts, 2017

“Washington: #5 State in the Country”

US News & World Report, 2017

A B O U T S P O K A N E , W A S H I N G T O N

“U.S. Growth Cities, Spokane #21”U-Haul Migration Trends, 2016

“Spokane #7 Most Efficient Airports”

Smart Asset, 2017

Spokane Valley is the 10th

largest city in Washington State and the home to

±90,000 residents.

"Spokane Valley, the Valley Bountiful”

Spokane County, located on the east side of Washington state, borders the Idaho state l ine and is less than 100 miles south of the Canadian border. Spokane serves as the business, transportation, media, medical, educational and entertainment hub of the Inland Northwest, a region encompassing 1.7 mil l ion people in Eastern Washington, Northern Idaho, Western Montana, Northeastern Oregon and parts of Alberta and Brit ish Columbia, Canada. As the 4th

most populated county in Washington, Spokane serves ±480,000 residents with excellent hospitals, universit ies and community colleges, and cultural amenities. Affordable and plentiful real estate, a ski l led workforce, an excellent quality of l ife combined with low operation costs, a world-class telecommunications infrastructure, highway/rail/air access, and a progressive business cl imate makes Spokane County an ideal place to do business.The Spokane-Spokane Valley MSA, made up of Spokane, Stevens and Pend Oreil le Counties, is in the Top 100 Metropolitan Statistical Areas in the nation. Additionally, Washington State has no corporate, unitary, or personal income tax; no tax on intangibles; and no capital gains tax.

Spokane Valley is a city in Spokane County, WA, and the largest suburb of Spokane.The City of Spokane Valley, located west of Spokane, is a family-friendly community with a population of ±100,000. The “Valley” is perfectly positioned for travelers wishing to experience the lakes and towns of northern Idaho without being too far away from the amenities of the city. The valley’s I-90 corridor offers ease of access to employees, multiple transportation systems, and nearby manufacturing, retail and health services.

C L I C K H E R E F O RO N L I N E A U C T I O NJ u l y 2 9 - 3 1 s t 2 0 1 9

Page 4: ABSOLUTE $1 AUCTION...ABSOLUTE $1 AUCTION. LEASEHOLD INTEREST. No warranty nor representation, expressed nor implied, is made as to the accuracy of the information contained herein,

St Mary’s Catholic School

Orchard Crest Assisted Living

The Blake Apartments


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