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    2701 Sunset Blvd Spokane, WA 99224
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    2701 Sunset Blvd Spokane, WA 99224

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    • Hospitality properties
    • 18,774 SF
    • 1.33 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • West Wynn Motel / Hotel & Motel

    Property Details for 2701 Sunset Blvd

    Year built
    1962
    Lot size
    1.33 lot acres
    Property size
    18,774 SF
    Property type
    Hospitality properties
    Property subtype
    Motels

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.452
    Latitude
    47.6492

    Comparable in this City

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      4626 Dowdy Rd

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      $1,190,000
      12,238 SF

      11102 Westbow Ln

      HOTEL/MOTEL • 12,238 SF
      11102 Westbow Ln, Spokane, WA 99224-9475
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      4,020 SF

      9030 Us 2nd Hwya

      HOTEL/MOTEL • 4,020 SF
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      560 SF

      1609 Lewis St

      HOTEL/MOTEL • 560 SF
      1609 Lewis St, Spokane, WA 99224-9786
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    • Value Estimation by Request
      144 SF

      9015 Us 2nd Hwy

      HOTEL/MOTEL • 144 SF
      9015 Us 2nd Hwy, Spokane, WA 99224-9413
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    • Value Estimation by Request
      1,600 SF

      2728 8th Ave

      HOTEL/MOTEL • 1,600 SF
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    Similar Nearby for Sale

    • Contact for pricing
      18,774 SF

      Spokane Motel Near Downtown

      Two-level, 33-room motel with renovation and expansion potential.
      2701 W Sunset Blvd, Spokane, WA 99224
      View Details
    • $1,600,000

      Spokane Motel Opportunity Near Downtown

      21-unit motel near downtown Spokane with potential for growth.
      2922 W Hartson Ave, Spokane, WA 99224
      View Details
    • $2,500,000

      Spokane Motel Near Downtown

      33-room motel with easy access to downtown and airport.
      2701 W Sunset Hwy, Spokane, WA 99224
      View Details
    • Contact for pricing
      11,308 SF

      Spokane Motel Opportunity For Sale

      21-unit motel near downtown Spokane and the airport.
      2922 W Hartson Ave, Spokane, WA 99224
      View Details
    • $255,000

      Commercial Land Development Opportunity

      Two parcels of land totaling 25,500 SF for sale.
      2620 W Sunset Blvd, Spokane, WA 99224
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      8610 W Whitman Ave, Spokane, WA 99224
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Land for Lease

      Land available for lease.
      8610 W Whitman Ave, Spokane, WA 99224
      View Details
    • Contact for pricing

      Land For Lease

      Land available for lease.
      1412 Technology Blvd, Spokane, WA 99224
      View Details
    • Contact for pricing

      Land for Lease

      Land available for lease.
      Technology Blvd, Spokane, WA 99224
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    • $25 SF/Yr

      Highway Frontage Multiple Spaces Available

      Multiple spaces available with high visibility and traffic count.
      10219 Highway 2 W, Spokane, WA 99224
      View Details
    • Contact for pricing
      1,821,679 SF

      Spokane Land for Lease

      Large land parcel available for lease in Spokane, WA.
      Highway 2 N, Spokane, WA 99224
      View Details
    • Contact for pricing

      Development Acreage on Sunset Highway

      8.25 acres visible from I-90 near Spokane Airport.
      4611 W Sunset Hwy, Spokane, WA 99224
      View Details
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    Spokane, WA 99224
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    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
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