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    112 Howard St Spokane, WA 99201
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    Property profile & analytics

    112 Howard St, Spokane, WA 99201

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    • Retail properties & Spaces
    • 44,337 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Marcie J. Lund, PharmD / Pharmacy
    • CDReload - Online Bitcoin ATM / Crypto Atm / Atm
    • Rite Aid Photo / (Bike/Boat/Book/etc) Store
    • Coinhub Bitcoin ATM Teller / Atm
    • higi / Physician

    Property Details for 112 Howard St

    Year built
    1967
    Property type
    Retail properties & Spaces

    Description

    This exceptional retail opportunity is located at 112 N Howard St, Spokane, WA 99201, in the vibrant heart of downtown. The property, part of the Parkade, offers approximately 25,112 square feet of retail space on the ground floor of a twelve-story, 44,337 square foot building constructed in 1967. The building features a convenient connection to the city's skywalk system, providing easy access to numerous downtown businesses and attractions. The location boasts excellent visibility and proximity to a variety of shopping, dining, and entertainment options. The space also includes an expansive patio area of approximately 2,199 square feet, ideal for outdoor seating or additional retail display. The property is zoned DTC and has an APN of 35184.2416. This single-tenancy space presents a unique opportunity for a business seeking a high-traffic, centrally located retail presence in Spokane's thriving downtown core. The building consists of one structure with eleven parking levels above the retail space. This is a rare opportunity to secure a prominent retail location within a well-established downtown landmark. The lease rate is $18.00 per square foot.

    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
    -117.42
    Latitude
    47.6587

    Comparable in this City

    • Value Estimation by Request

      164 Washington St

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      905 Washington St

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      905 Washington St, Spokane, WA 99201
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    • Value Estimation
      $600,000
      1,775 SF

      1007 Railroad Ave

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      1007 Railroad Ave, Spokane, WA 99201
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    • Value Estimation
      $3,925,000
      67,000 SF

      1111 Maple St

      SERVICE SHOP (TV, ELECTRIC, PLUMBING)
      1111 Maple St, Spokane, WA 99201
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    • Value Estimation
      $6,625,000
      82,350 SF

      223 Howard St

      DEPARTMENT STORE
      223 Howard St, Spokane, WA 99201
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    • Value Estimation
      $625,000
      4,442 SF

      328 3rd Ave

      DEPARTMENT STORE
      328 3rd Ave, Spokane, WA 99201-4314
      View Details

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    Spokane, WA 99201
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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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