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    12121 Mission Ave Spokane Valley, WA 99206
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    12121 Mission Ave Spokane Valley, WA 99206

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    • Office Spaces
    • 18,873 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Luxury Loo Rental / Building Supply
    • Golden Solutions / Retirement Community
    • Golden Youth Services / Child Welfare Organization / Foster Care Service

    Property Details for 12121 Mission Ave

    Property size
    18,873 SF
    Property type
    Office Spaces
    Property subtype
    Office Units

    Description

    This exceptional Spokane Valley office property, located at 12121 E Mission Ave, 99206, offers a total of 18,873 square feet and boasts a convenient location near the Pines and I-90 intersection. The property features two adjacent suites, each ranging from 1,700 to 1,800 square feet, perfect for businesses seeking flexible space. The building is suited for a variety of uses, including traditional office, executive office, coworking, medical office, and creative office spaces. Tenancy is multiple, allowing for diverse occupancy. The property provides 50 parking spaces for convenient employee and client access. A private off-street entryway adds to the property's appeal. The suites are ready for tenant improvement, offering an opportunity to customize the space to meet specific business needs. This prime Spokane County location offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a thriving and convenient workspace. The property is situated in Spokane Valley, Washington.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Spokane Valley
    County
    Spokane
    State
    Washington
    Longitude
    -117.242
    Latitude
    47.672

    Comparable in this City

    • Value Estimation by Request
      18,873 SF

      12121 Mission Ave

      Office Units • 18,873 SF
      12121 Mission Ave, Spokane Valley, WA 99206
      View Details
    • Value Estimation by Request
      7,668 SF

      1120 Pne Rd

      Medical Office Space • 7,668 SF
      1120 Pne Rd, Spokane Valley, WA 99206
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    • Value Estimation by Request
      0.36 Acres

      1105 Pne Rd

      Medical Office Space • 0.36 Acres
      1105 Pne Rd, Spokane Valley, WA 99206
      View Details
    • Value Estimation
      $510,000
      3,266 SF

      1107 Pnes Rd

      DENTAL BUILDING • 3,266 SF
      1107 Pnes Rd, Spokane Valley, WA 99206-4936
      View Details
    • Value Estimation by Request
      3,234 SF

      11017 Sprague Ave

      MEDICAL BUILDING • 3,234 SF
      11017 Sprague Ave, Spokane Valley, WA 99206-5247
      View Details
    • Value Estimation
      $905,000
      3,500 SF

      1716 Un Rd

      MEDICAL BUILDING • 3,500 SF
      1716 Un Rd, Spokane Valley, WA 99206-4834
      View Details

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    Similar Nearby for Lease

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    12121 Mission Ave
    Spokane Valley, WA 99206
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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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