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    507 S Howard St Spokane, WA 99201

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    For Sale
    $4,500,000

    Mixed-use property with retail and apartments in Spokane's South Hill.

    Property size:
    42,500 SF
    Lot size:
    0.33 Acres

    Property Features for 507 S Howard St

    General Information

    Size
    42,500 SF
    Lot size
    0.33 Acres

    Source: LT Real Estate Agent Derek Raivio

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

    Overview

    Mixed-Use Property in South Hill

    This mixed-use property is located in Spokane’s South Hill neighborhood. The building includes 1,015 square feet of retail space, currently occupied by a coffee tenant with five years remaining on the lease. Above the retail space are twenty-nine apartments. The unit mix consists of eighteen one-bedroom and eleven two-bedroom apartments, all featuring spacious layouts and quality finishes. Located in an Opportunity Zone, the property offers potential tax benefits. The property has a total size of 42,500 square feet and offers income potential. There is potential for rent upside of 10%-20%. The property is positioned in a high-demand location near downtown, shopping, and dining.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Riverfront Park Park Knickerbocker Apartments Apartment Building Rotary Fountain Tourist Attraction Shane O'Reilly Memorial ... Playground Lilac Park Park

    Suggested Use

    Restaurant Realty agency Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.4215881
    Latitude
    47.6623937

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property with retail and apartments in Spokane's South Hill.
    Where is this mixed-use property located?
    The property is located at 507 S Howard St Spokane, WA.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: - High-demand South Hill location in Spokane, close to downtown, shopping, and dining.; - Existing retail tenant (coffee shop) with five years remaining on the lease provides immediate income.; - Opportunity Zone location offers valuable tax benefits.
    (360) 518-9381
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    Realmo Value Estimation

    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.

    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.

    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
    507 S Howard St Spokane, WA 99201
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