Updated Jul 24, 2026
SOLDRetail
Romax 5 Mile LLC Acquires 5 Mile Shopping Center In Spokane For $32 Million
1812 West Francis Avenue
$32,000,000
$196/SF
Building Size
163,000 SF
Asset Type
Retail
Closing
Jul 23, 2026
About this deal
AI
Romax 5 Mile LLC acquired a grocery-anchored retail center on 14.2 acres located at 1812 West Francis Avenue in Spokane, WA, for a total consideration of $32 million. The retail asset boasts a substantial square footage of 163,000, with a price per square foot of $196.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $32,000,000
- Address: 1812 West Francis Avenue
- Market: Spokane, WA
- Acres: 14.2
- Square Footage: 163,000
- Price Per Square Foot: $196
- Buyer: Romax 5 Mile LLC
- Seller: 5-Mile Investment Co. I LLC
- Brokers: Casey Brazil & Richard Fox - Kiemle Hagood
The transaction involved key representatives with Casey Brazil and Richard Fox of Kiemle Hagood acting as brokers in the deal, representing both the buyer and the seller in this significant retail property acquisition.
Players
Spokane Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.50%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93