Redwood Plaza 11707 E Sprague Ave 73,466 SF 90% Leased Office Building Spokane Valley, WA 99206 $18,835,200 CAD ($256.38 CAD/SF) 7.77% Cap Rate

The Redwood Plaza, situated at 11707 E Sprague Avenue in Spokane Valley, is a three-building commercial complex anchored by the distinctive Clocktower Building. Initially developed in the mid-1980s and later completed in the early '90s, the plaza features a prominent three-story office structure with a basement flanked by two single-story retail buildings, offering a total of approximately 108,000 square feet of office and retail space.

With ample parking, the site caters to businesses seeking combined office, retail, and dining presence on one of Spokane Valley’s main commercial corridors. The property has undergone numerous upgrades to maintain its relevance and functionality in today’s commercial real estate market. The plaza features a reinforced concrete structure with masonry and steel framing, offering strong foundational integrity and adaptability for a variety of tenants. The strong mix of existing tenants and growing demand in the Spokane Valley commercial market makes this a compelling investment for cash flow and future appreciation.

The Redwood Plaza is ideally located along East Sprague Avenue, one of Spokane Valley’s busiest and most recognizable commercial corridors. This highly visible and easily accessible location places the property at the heart of the city’s retail and professional district, surrounded by a strong mix of national retailers, local businesses, and dining establishments. The site benefits from excellent traffic counts, strong signage potential, and multiple points of ingress and egress. Additionally, proximity to major arterial routes, including Interstate 90, just minutes to the south, offers seamless connectivity to Downtown Spokane, Liberty Lake, and Coeur d’Alene.

Benefitting from proximity to several key community services, medical facilities, municipal buildings, and institutions such as MultiCare Valley Hospital, The Redwood Plaza benefits from steady daytime traffic and business synergy for professional and service-oriented tenants. This property is near the University Road and Pines Road intersections, important north-south connectors that enhance regional access and attract a broad customer base from surrounding neighborhoods.

The area surrounding Redwood Plaza is experiencing continued growth, with new residential developments, infill retail, and infrastructure improvements enhancing both property values and overall market activity. Being centrally located in Spokane Valley, one of the fastest-growing submarkets in Eastern Washington, the Redwood Plaza is positioned to benefit from long-term demographic and economic expansion.