Listed by NAI Black
$7,400,000
Pinewater Plaza
Details
APN 36171.0106, 36171.0107, 36171.0108, 36171.0110
Property Type Retail, Land
Sub Type QSR/Fast Food, Shopping Center
Square Footage 17,271
Net Rentable (SqFt) 17,271
Units 11
Tenancy Multi
Brand/Tenant Starbucks
Rent Bumps Yes
Class A
Year Built 2004
Year Renovated 2018
Buildings 2
Acreage 4.830
Zoning RC
Parking Spaces 5.56 per 1,000 sq ft
Tenant Credit Credit Rated
Ground Lease No
Sale Condition For sale by owner
Regional Multitenant Strip and Single Tenant Starbucks Investment - North Spokane
Marketing description
Pinewater Plaza in the fast growing North Spokane submarket consists of 15,260-square foot neighborhood retail center, a freestanding, 2,011-square foot drive thru Starbucks, and 2 development ready outparcels on a 4.83-acres. The total offering, including the 2 development ready outparcels valued at $1,500,000, has a total asking offering price of $7,900,000.
Retail Building
- Multi-tenant Strip Building: A 15,260-SF building currently 100% occupied. Tenants include Retro Donuts, Inland Northwest Ballet, Jonathan’s Nail & Spa, and The Beauty Spot Salon & Spa. It also serves as a strategic hub for government-backed offices, including the WA Army National Guard and the U.S. Armed Forces Recruiting center.
- Constructed in 2004 and renovated in 2018
- U.S. Armed Forces and WA Army National Guard, which together account for 49% of potential rental income.
- 2.82 Acre Parcel
Freestanding Starbucks
- A Freestanding 2,011-SF Starbucks with a dedicated drive-thru, situated on a separate parcel to maximize site efficiency and traffic flow.
- Constructed in 2018
- .62 Acre Parcel
Development Pads
- Undeveloped Land Parcels: The offering includes two contiguous available pad sites totaling approximately
- 60,453 square feet (1.39 AC).
- Frontage: Over 350 feet of high-visibility frontage along N Newport Highway.
- Traffic Counts: Approximately 24,500+ vehicles per day along the primary arterial.
- Zoning: RC - Regional Commercial, allowing for a broad range of retail, service, and restaurant uses.
Investment highlights
- Premium Anchor Tenant: Features a high-performing, freestanding Starbucks with a dedicated drive-thru.
- Significant Upside Potential: Includes two contiguous "shovel-ready" pad sites totaling approximately 60,453 square feet (1.39 AC). These parcels offer immediate opportunities for further retail development or lucrative ground leases.
- Prime High-Traffic Location: Strategically positioned on N Newport Highway with traffic counts exceeding 24,500 vehicles per day. The site benefits from its proximity to a new interchange for the North/South Freeway (Highway 395).
- Dominant Retail Synergy: Shadow-anchored by the Northside YMCA and situated in a premier retail node. Immediate neighbors include major national retailers such as Costco, Safeway, Target, Nordstrom Rack, and Dick’s Sporting Goods.
Listing Contacts
Listed by NAI Black
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