Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    302 N Argonne Rd Spokane Valley, WA 99212

    Sponsored
    For Sale
    $455,000

    MULTI_FAMILY - Ranch - Spokane Valley, WA

    Type:Single Family Residence
    Lot size:
    0.60 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 20 at 6:06 am

    Property Features for 302 N Argonne Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Rooms
    Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1
    Bedrooms
    3
    APN
    45173.1304
    Parking features
    RV, Oversize, Offsite
    Interior features
    In-Law Floorplan
    Fireplace
    1
    Basement
    Daylight, Full
    Appliances
    Free-Standing Range, Double Oven, Refrigerator, Washer, Dryer
    Lot size
    0.60 Acres

    Utilities

    Heating system
    Electric (Heating), Natural Gas

    Building Details

    Year built
    1958
    Floors in Building
    1
    Number of units
    2
    Building materials
    Wood Siding
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Lorrie Burnworth

    eXp Realty LLC (360) 339-5093

    Listing agent Lorrie Burnworth (509) 844-8240

    Listing date Feb 19, 2026

    MLS# 202424673 Listing URL

    Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Spokane Valley Mixed-Use Potential

    Located on the Argonne/Mullan Rd corridor, this 0.60-acre property in Spokane Valley, WA, offers income potential from a spacious duplex and the possibility of building additional units. Zoned Corridor Mixed Use (CMU), the property presents various business opportunities. The duplex features a newer PVC roof and appliances. The upstairs unit includes fresh interior paint, new carpet, two bedrooms, one bath, a newer water heater, gas central heat, and an attached 1-car garage. The downstairs unit has been recently updated and includes one bedroom, one bath, and baseboard heating, along with off-street parking. The large, fenced back lot provides space for constructing additional units or exploring other business ventures.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.282406
    Latitude
    47.659773

    Nearby Similar for Sale

    • New
      $439,000
      0.40 Acres

      Spokane Valley Duplex on Corner Lot

      Well-maintained duplex with income potential on a large corner lot.
      7708 E Nora Ave, Spokane Valley, WA 99212
      View Details
    • $875,000
      0.44 Acres

      Mixed-Use Property in Spokane Valley

      Adaptable mixed-use property with office and warehouse space for sale.
      106 N Hutchinson Rd, Spokane Valley, WA 99212
      View Details
    • New
      $475,000
      Pending

      Spokane Valley Duplex with Income

      Spokane Valley duplex with income and value-add potential.
      2808/2810 S Blake Rd, Spokane Valley, WA 99216
      View Details
    • New
      $499,891
      1,774 SF

      Renovated Home on Usable Acreage

      Renovated 4-bedroom home on 5 acres in Otis Orchards.
      6205 N Ormond Rd, Otis Orchards, WA 99027
      View Details
    • $850,000
      3,328 SF

      Spokane Valley Multi-Use Investment Property

      High-traffic, income-generating property with diverse development potential in Spokane Valley.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • New
      $850,000
      3,328 SF

      High-Traffic Spokane Valley Investment Property

      Income-generating, multi-use property with high visibility and freeway access.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • New
      $649,900
      2,630 SF

      Well-Maintained Duplex in Spokane Valley

      2013-built duplex with modern design, ideal for investors.
      1919 N Flora Rd, Spokane Valley, WA 99016
      View Details
    • $850,000
      3,328 SF

      Spokane Valley Multi-Use Investment Property

      High-traffic, income-generating property with multi-use zoning in Spokane Valley.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • $850,000
      3,328 SF

      Spokane Valley Multifamily Investment Opportunity

      High-traffic, income-generating property with multi-use zoning in Spokane Valley.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • $850,000
      0.73 Acres

      High-Traffic Spokane Valley Investment Property

      High-visibility, income-generating property with multi-use zoning along I-90.
      13604/06 E Nora Ave, Spokane Valley, WA 99216
      View Details
    • $1,695,000
      1.40 Acres

      Spokane Valley Commercial Property

      Commercial property with multiple buildings and redevelopment potential in Spokane Valley.
      8814 E Sprague Ave, Spokane Valley, WA 99212
      View Details
    • $1,200,000
      4,491 SF

      Turn Key Spokane Valley Restaurant

      Turn-key restaurant with FF&E available for sale in Spokane Valley.
      12622 E Sprague Ave, Spokane Valley, WA 99216
      View Details

    FAQs

    What type of property is this?
    Commercial land - Income-producing duplex with development potential in Spokane Valley, WA.
    Where is this commercial land located?
    The property is located at 302 N Argonne Rd Spokane Valley, WA.
    What is the asking price?
    The asking price for this property is $455,000.
    What are key features of this property?
    This property features: - Income-producing duplex with two updated units.; - Large .60-acre lot zoned Corridor Mixed Use (CMU) with commercial potential.; - Opportunity to build additional units on the property.
    (509) 844-8240
    Request Owner's contact information
    302 N Argonne Rd Spokane Valley, WA 99212
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    302 N Argonne Rd
    Spokane Valley, WA 99212
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    302 N Argonne Rd Spokane Valley, WA 99212
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lorrie Burnworth
    Real Estate License ID: 97003
    (509) 844-8240 (888) 317-5197 (360) 339-5093
    Learn more
    Google sign-in failed. Please try again or use another login method.