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    Parcels Cheney, WA 99004
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    Parcels, Cheney, WA 99004

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    • Land
    • 10.16 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Parcels

    Lot size
    10.16 lot acres
    Property type
    Land

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cheney
    County
    Spokane
    State
    Washington
    Longitude
    -117.576
    Latitude
    47.4869

    Comparable in this City

    • Value Estimation by Request
      27.88 Acres

      4 Lk

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      0 4 Lk, Four Lakes, WA 99004
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      5.59 Acres

      1529 1St St

      Land
      1529 1St St, Cheney, WA 99004
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      6.06 Acres

      Parcels

      Land
      0 Parcels, Cheney, WA 99004
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    • Value Estimation by Request

      10430 Aero Rd

      Land
      10430 Aero Rd, Spokane, WA 99004
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    • Value Estimation by Request
      1,017.00 Acres

      27000 Block

      Farms
      27000 Block, Cheney, WA 99004
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    • Value Estimation by Request
      4.00 Acres

      7116 Spotted Rd

      Land
      7116 Spotted Rd, Cheney, WA 99004
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for purchase.
      5800 S Thomas Mallen Rd, Spokane, WA 99004
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    • $302,500
      20.00 Acres

      Land with Territorial Views

      20-acre land parcel with territorial views near Spokane.
      Nka Malloy Pr Rd, Cheney, WA 99004
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    • $302,500
      20.00 Acres

      Land with Territorial Views

      20 acre parcels with territorial views near Spokane.
      Nka Malloy Pr Rd, Cheney, WA 99004
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    • $99,000
      Pending

      Secluded 10-Acre Treed Parcel

      10-acre treed parcel with building locations near Cheney, WA.
      Lorna Ln, Cheney, WA 99004
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    • $312,500
      20.00 Acres

      Land with Territorial Views

      20 acre parcels with territorial views near Spokane.
      Nka Malloy Pr Rd, Cheney, WA 99004
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    Similar Nearby for Lease

    • Contact for pricing

      Cheney Plaza Land and Retail

      Land and retail space available for lease at Cheney Plaza.
      2710 1St St, Cheney, WA 99004
      View Details
    • Contact for pricing

      21 Acres with Storage Buildings

      21 acres with multiple storage and warehouse buildings for rent.
      10117 S Spotted Rd, Cheney, WA 99004
      View Details
    • Contact for pricing
      1,892 SF

      Retail Space in Cheney, WA

      Retail space available near Safeway, Grocery Outlet, and Starbucks.
      2420 1St St, Cheney, WA 99004
      View Details
    • Contact for pricing

      Turnkey Restaurant and Bar Opportunity

      Restaurant and bar overlooking Williams Lake near Spokane/Cheney.
      18617 W Williams Lake Rd, Cheney, WA 99004
      View Details
    • $14 SF/Yr

      Retail Space Near EWU Campus

      Retail space ideal for coffee shop, bistro, or ice cream.
      115 College Ave, Cheney, WA 99004
      View Details
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    Parcels
    Cheney, WA 99004
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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.

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