Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    621 W Mallon Ave Spokane, WA 99201

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $315,000

    Premier office suite in the Historic Spokane Flour Mill.

    Property size:
    800 SF
    Lot size:
    2.20 Acres

    Property Features for 621 W Mallon Ave

    General Information

    Size
    800 SF
    Lot size
    2.20 Acres

    We can help!

    Listing Contact
    Joshua Suhr
    Source: Moodyscre

    Listing Agent: Joshua Suhr

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Historic Spokane Flour Mill Office

    Located in the Historic Spokane Flour Mill along the Spokane River, this office suite offers approximately 800 square feet of workspace. The suite combines architectural character with modern functionality. It is situated near the Spokane Arena, providing convenient access and a central location. The property includes two on-site designated parking spaces. It offers easy access from I-90 and a direct connection to the Centennial Trail, with riverfront recreation nearby. Dining and entertainment options are available, including Clinkerdagger’s and various shops and restaurants within the building. All furnishings are included in the sale.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Flour Mill Shopping Mall Mariner Agency Auto Insurance Agency IFIOC Business Development Service Chateau Rive Wedding Venue Clinkerdagger American Restaurant

    Suggested Use

    Restaurant Dental Office Realty agency Hair Salon Spa & Massage Building Supply Nail Salon Clothing Store Daycare Center Wholesale Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4223185
    Latitude
    47.6651462

    Nearby Similar for Sale

    • $340,000
      2,234 SF

      Updated Commercial Property with GC-70 Zoning

      Updated property with GC-70 zoning, suitable for various uses.
      2012 N Ruby St, Spokane, WA 99207
      View Details
    • $675,000
      Pending

      Spokane Mixed-Use Commercial Landmark

      Historic mixed-use property with income potential in Spokane, Washington.
      5634 E Commerce Ave, Spokane, WA 99207
      View Details
    • $990,000
      8,020 SF

      Spokane Commercial Property For Sale

      Commercial property with showroom and easy freeway access in Spokane.
      3626 E Trent Ave, Spokane, WA 99202
      View Details
    • New
      $700,000
      Pending

      Spokane Adult Family Home

      Well-established, income-producing adult family home in a peaceful neighborhood.
      4414 S Helena St, Spokane, WA 99223
      View Details
    • New
      $675,000
      Pending

      Spokane Adult Family Home

      Well-established, income-producing adult family home in a peaceful neighborhood.
      2214 E 36Th Ave, Spokane, WA 99203
      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, WA 99212
      View Details
    • $699,900
      5,472 SF

      Spokane Office Building For Sale

      Centrally located office building with conversion potential.
      1915 N Division St, Spokane, WA 99207
      View Details
    • $1,299,000
      9,000 SF

      Spokane Commercial Opportunity

      9,000 SF Spokane commercial property on 1.89 acres.
      1611 W Geiger Blvd, Spokane, WA 99224
      View Details
    • $600,000
      0.14 Acres

      Spokane Multifamily Investment Opportunity

      Well-maintained 5-unit property in a desirable Spokane neighborhood.
      1619 N Madison St, Spokane, WA 99205
      View Details
    • $225,000
      0.03 Acres

      Garage Lodge Unit with Lift

      Automotive playground with lift, clubhouse, and business center access.
      1551 Deer Heights Rd, Spokane, WA 99224
      View Details
    • New
      $1,490,000
      14,896 SF

      Versatile Spokane Commercial Warehouse Space

      15,000 sq ft warehouse with office space in Spokane.
      3303 E Ferry Ave, Spokane, WA 99202
      View Details
    • $680,000
      7,600 SF

      Spokane Industrial Building For Sale

      7,600 SF industrial building with upside potential in Spokane, WA.
      2911 E Boone Ave, Spokane, WA 99202
      View Details

    FAQs

    What type of property is this?
    Office space - Premier office suite in the Historic Spokane Flour Mill.
    Where is this office space located?
    The property is located at 621 W Mallon Ave Spokane, WA.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: - Premier office suite in the Historic Spokane Flour Mill, a distinguished and highly desirable location.; - Includes two on-site designated parking spaces, a rare and valuable amenity in downtown Spokane.; - Approximately 800 square feet of versatile workspace with character-rich architecture.
    (208) 691-0390
    Request Owner's contact information
    621 W Mallon Ave Spokane, WA 99201
    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.
    621 W Mallon Ave
    Spokane, WA 99201
    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
    621 W Mallon Ave Spokane, WA 99201
    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
    Joshua Suhr
    (208) 691-0390
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.