Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,225,000
Theaters & concert halls
924 Garland Ave Spokane, WA 99205-2819
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0264638
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1945
Construction
CONCRETE
Total area
13,253 SF
Lot
0.76 ac (33,200 SF)
APN
35062.1409
UPID
US90-0264638
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Garland Theater Cinema Theater & Performing Art Venue
-
Spokane Comedy Film Festival Music Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.23M
Owner & transaction history
Cap Garland LLC · 1 yrs held
Cap Garland LLC
since 2024
Last sale
$2.8M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Spokane submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,680,000
ML approach
$1,610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,105,000
Change: 0% · Conversion: Difficult
COMMERCIAL (GENERAL)
$2,850,000
Change: 0% · Conversion: Difficult
OFFICE BUILDING
$2,105,000
Change: 0% · Conversion: Difficult
RESTAURANT
$2,095,000
Change: 0% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,745,000
Change: 0% · Conversion: Difficult
RETAIL STORES
$1,510,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.23M
Range $2.00M – $2.45M · ±10% · vs last sale $2.80M (Jun 6 2024)
Last sale anchor
$2.80M
Jun 6 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$168 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,776
Tax year 2023
Assessed value
$675,300
Assessed 2024
Previous assessed
$656,400
+2.9% YoY
Effective rate
0.26%
On assessed value
Assessed land
$265,600
Assessed improvement
$409,700
Land market value
$265,600
Improvement market value
$409,700
Total market value
$675,300
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1945
Construction
CONCRETE
Heating
NONE
Stories
2
Bathrooms
2
Total area
13,253 SF
Lot
0.76 ac (33,200 SF)
APN
35062.1409
UPID
US90-0264638
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$2.9M
OFFICE BUILDING
Est. value
$2.1M
RESTAURANT
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$1.7M
RETAIL STORES
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1945
Construction
CONCRETE
Heating
NONE
Stories
2
Bathrooms
2
Lot
0.76 ac
Current owner
From public records · entity-resolved
Cap Garland LLC
Entity
Mailing address
915 W 2ND AVE, SPOKANE, WA 99201-4501
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2026
—
Cap Garland LLC
—
Deed
related
$290,000 · Juniper Capital Corporation
Sep 6, 2024
$2,800,000
Cap Garland LLC
Garland Acquisitions LLC
Warranty Deed
—
Dec 15, 2023
$1,790,000
Garland Acquisitions LLC
Katherine M Fritchie
Warranty Deed
$1,170,000 · Garland Opportunity Fund LLC
Mar 23, 2022
—
Kathetine M Fritchie
—
Deed
related
$1,400,000 · Riverbank
Oct 21, 2002
$675,000
Katherin M Fritchie
Sterling Recreation Organizati
Grant Deed
$610,000 · Wheatland Bank
—
—
Katherine M Fritchie
—
Deed Of Trust
related
$651,689 · Wheatland Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 924 Garland Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
