Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Deer Heights Rd Spokane, WA 99224

    • Retail properties
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 0 Deer Heights Rd

    Property type
    Retail properties
    Property subtype
    Land

    Description

    This exceptional commercial land offering presents a rare opportunity in the thriving Airway Heights market. Located at 0 S Deer Heights Rd, Spokane County, WA 99224, this property boasts a flexible lot size ranging from 5.52 to 13.19 acres, providing ample space for a variety of retail developments. The property is zoned for commercial use and is ideally suited for multiple tenants, offering significant potential for a diverse range of businesses. The address is 0 S Deer Heights Rd, Airway Heights, WA, within Spokane County. The property's location offers excellent visibility and accessibility, making it an attractive proposition for businesses seeking high foot traffic and convenient access for customers. With three spaces available, this property is perfect for a retail center or individual businesses seeking to establish a strong presence in a growing community. The parcel numbers are 25305.9035, 25301.0303, and 25302.0205. This is a blank canvas for a developer to create a thriving retail destination. The property is currently for lease, presenting an immediate opportunity to capitalize on the area's strong economic growth. The latitude and longitude coordinates are 47.6421759, -117.5504995 respectively. Don't miss this chance to secure a prime piece of commercial real estate in a highly desirable location.

    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
    -117.55
    Latitude
    47.6422

    Comparable in this City

    • Value Estimation by Request

      10525 Sunset Hwy

      Restaurants
      10525 Sunset Hwy, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      10,790 SF

      10219 Sunset Hwy

      Neighborhood centers • 10,790 SF
      10219 Sunset Hwy, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      1.62 Acres

      8610 Whitman Ave

      Land • 1.62 Acres
      8610 Whitman Ave, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      8.57 Acres

      6400 Thorpe Rd

      Land • 8.57 Acres
      6400 Thorpe Rd, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      1.69 Acres

      1608 Technology Blvd

      Land • 1.69 Acres
      1608 Technology Blvd, Spokane, WA 99224
      View Details
    • Value Estimation by Request
      2.47 Acres

      1721 Technology Blvd

      Land • 2.47 Acres
      1721 Technology Blvd, Spokane, WA 99224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      48.28 Acres

      Spokane Commercial Land - 48 Acres

      Prime Spokane County commercial land.
      9850 21St Ave, Spokane, WA 99224
      View Details
    • $255,000

      Sunset Blvd Development Land

      Spokane, WA: Prime Development Parcels
      2620 Sunset Blvd, Spokane, WA 99224
      View Details
    • Contact for pricing
      5.52 Acres

      Prime Spokane County Commercial Land

      5.52 Acres, Airway Heights, WA
      0 Deer Heights Rd, Spokane, WA 99224
      View Details
    • Contact for pricing
      1.62 Acres

      Spokane Commercial Land - 1.62 Acres

      Prime Spokane commercial land, ideal for development.
      8610 Whitman Ave, Spokane, WA 99224
      View Details
    • Contact for pricing
      8.57 Acres

      Spokane Industrial Land - 8.57 Acres

      Prime Spokane County land, I-90 access. Light Industrial zoning.
      6400 Thorpe Rd, Spokane, WA 99224
      View Details
    • Contact for pricing
      5.24 Acres

      Spokane Commercial Land - 5.24 Acres

      Prime Spokane County commercial land. Excellent development opportunity.
      0 Deer Heights Rd, Spokane, WA 99224
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3 SF

      Airway Heights Commercial Land Opportunity

      Prime Spokane County retail land for lease.
      0 Deer Heights Rd, Spokane, WA 99224
      View Details
    • $0.87 SF/Yr
      101,495 SF

      Airway Heights Commercial Land Opportunity

      Prime location, high traffic, build-to-suit.
      10525 Sunset Hwy, Spokane, WA 99224
      View Details
    • Contact for pricing
      1 SF

      Spokane Retail Space For Lease

      Prime Spokane retail, multiple spaces available.
      10511 Aero Rd, Spokane, WA 99224
      View Details
    • Contact for pricing
      2,905,888 SF

      Spokane Industrial Land Opportunity

      Prime Spokane County acreage for sale or lease.
      0 Technology Blvd, Spokane, WA 99224
      View Details
    • Contact for pricing

      Prime Spokane County Commercial Land

      1.82 Acres, Highway 2 Access
      8508 Whitman Ave, Spokane, WA 99224
      View Details
    • Contact for pricing

      Spokane County Commercial Land Parcel

      Prime 1.14-Acre Industrial Site
      1514 Technology Blvd, Spokane, WA 99224
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Deer Heights Rd
    Spokane, WA 99224
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.