For Sale
$4,400,000

3125 Francis AveSpokane, WA 99208

O'Reilly-anchored, high-traffic retail center.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 12,780-square-foot retail shopping center in Spokane, Washington, anchored by O'Reilly Auto Parts. The property boasts 100% occupancy with two tenants, generating a strong net operating income (NOI) of $189,343 and a 4.30% cap rate. Priced at $4,400,000, this value-add asset offers significant upside potential. Situated on a 2.93-acre lot, it includes approximately 1.87 acres of additional developable land, allowing for future expansion or development. The property benefits from a prime location at the signalized intersection of major thoroughfares, boasting high traffic counts (24,400 ADT on Francis Ave; 18,600 ADT on Market St) and excellent visibility thanks to pylon signage. The surrounding area is densely populated, with 8,473 residents within one mile, 75,791 within three miles, and 194,311 within five miles. Built in 1998, the property is zoned Community Commercial (CC) and Neighborhood Commercial (NC), offering flexibility for future uses. The property's APN is 36273.1423, 36273.1413, and 36273.1414. This cash-flowing asset presents a compelling opportunity for investors seeking both immediate income and long-term growth.

Highlights

  • $4,400,000 asking price for this value-add retail investment opportunity.
  • 12,780 square foot shopping center with two tenants, currently 100% occupied.
  • O'Reilly Auto Parts anchors this multi-tenant property generating a strong NOI of $189,343 and a 4.30% cap rate.
  • Located in Spokane, WA, at 3125 E Francis Ave, 99208, on a 2.93-acre lot with additional developable land.
  • Property features high visibility pylon signage at a signalized intersection with high traffic counts.

Property Details for 3125 Francis Ave

Property type
Lifestyle centers, Power centers
Square Feet
12,780 SF
Year Built
1998
Lot Size (sq. ft)
127,631 SF

Location Insight

City
Spokane
County
Spokane
State
Washington
Latitude
47.7154469
Longitude
-117.365023
3125 Francis Ave, Spokane, Washington

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3125 Francis Ave
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