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    1315 Monroe St Spokane, WA 99201

    Sponsored
    For Sale
    Contact for pricing

    Prime Spokane location, high development potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional multifamily investment opportunity presents a remarkable chance to acquire a well-positioned property in Spokane, Washington. Located at 1315 N Monroe St, Spokane, WA 99201, this property encompasses a substantial 38,340 square foot lot (APN 35182.1104) and features a 1922-built apartment building zoned for Center & Corridor use. The property's strategic location within the periphery of downtown Spokane offers convenient access to public transportation, placing it directly on a bus line. Further enhancing its appeal, an adjacent lot provides ample parking for approximately 60 vehicles. Detailed floor plans are available upon request with the execution of a non-disclosure agreement. This property presents significant potential for development, with the possibility of leveraging available benefits and incentives. The existing building, while historically significant, offers a solid foundation for redevelopment or adaptive reuse, capitalizing on the growing demand for housing in this vibrant Spokane neighborhood. Serious inquiries are encouraged to explore the full potential of this unique investment opportunity.

    Property Features for 1315 Monroe St

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1922
    Buildings
    1
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.42663868756
    Latitude
    47.669391739237

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    FAQs

    What type of property is this?
    Multifamily property - Prime Spokane location, high development potential.
    Where is this multifamily property located?
    The property is located at 1315 Monroe St Spokane, WA.
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    1315 Monroe St Spokane, WA 99201
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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
    1315 Monroe St Spokane, WA 99201
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