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    Property profile & analytics

    1007 Trent Ave Spokane, WA 99202-2162

    • Investment properties
    • 32,027 SF
    • 2.66 lot acres
    OFF-MARKET
    Last Sale
    Jan 14, 2025
    $2,900,000
    Value Estimations
    $3,475,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1545313
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Investment properties

    Property Details for 1007 Trent Ave

    Year built
    1915
    Lot size
    2.66 lot acres
    Property size
    32,027 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    35174.0224
    APU
    351740224

    Description

    This exceptional Riverwalk property in Spokane, Washington offers a unique blend of retail, office, and warehouse space. Located at 1007 E Trent Ave, 99202, this two-story, 74,560 square foot Class B building, originally constructed in 1915 and extensively renovated in 2022, presents multiple tenancy opportunities. Three suites are currently available, ranging from 3,960 to 13,125 square feet. Suite 105 (4,525 sq ft) features an open retail/office/warehouse showroom, one overhead door, potential for office expansion, a kitchen/break room, and an ADA-compliant restroom. Suite 110 (3,960 sq ft) boasts a heavy office buildout with direct river access. Suite 200 (13,125 sq ft) offers a private entrance with elevator access, high ceilings, abundant natural light, a mix of office and open space, and stunning river views. All suites are available at a lease rate of $14.00 per square foot (NNN), with estimated NNNs at $4.00 per square foot. The property benefits from ample on-site parking and a prime location in Spokane's University District/CBA, providing excellent views of the Spokane River and convenient access to a private walking path connecting to the Centennial Trail. This is an unparalleled opportunity to secure prime commercial space in a vibrant and desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,400,000
      ML approach
      $3,430,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,015,000
      Market price range: $3.37M - $7.51M
      AI Estimate
      $4,041,000
      Market price range: $998k - $6.55M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.394
    Latitude
    47.6627
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $36,340
    $926,900
    $2,798,800
    $3,725,700
    -
    $926,900
    $2,798,800
    $3,725,700

    Comparable in this City

    • Value Estimation
      $370,000
      10,224 SF

      1722 Sprague Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 10,224 SF
      1722 Sprague Ave, Spokane, WA 99202-3109
      View Details
    • Value Estimation
      $655,000
      28,689 SF

      1 Main Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 28,689 SF
      1 Main Ave, Spokane, WA 99202
      View Details
    • Value Estimation
      $500,000
      5,900 SF

      105 Msn Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 5,900 SF
      105 Msn Ave, Spokane, WA 99202-6002
      View Details
    • Value Estimation
      $880,000
      4,500 SF

      1802 Sprague Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,500 SF
      1802 Sprague Ave, Spokane, WA 99202-3119
      View Details
    • Value Estimation by Request
      15,353 SF

      1819 Springfield Ave

      Day care centers • 15,353 SF
      1819 Springfield Ave, Spokane, WA 99202
      View Details
    • Value Estimation
      $425,000
      4,200 SF

      634 Perry St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,200 SF
      634 Perry St, Spokane, WA 99202-3330
      View Details

    Similar Nearby for Sale

    • $375,000
      5,315 SF

      Mixed-Use Building on Sprague Avenue

      5,315 SF mixed-use building with ample parking for sale.
      2515 E Sprague Ave, Spokane, WA 99202
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    • $3,950,000

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      Mixed-use property in the heart of downtown Spokane.
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    • $2,300,000
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      Remodeled Mixed-Use Building in Spokane

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    • $199,000

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      Established Spokane Restaurant

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    • $475,000
      1.32 Acres

      Rockwood Boulevard Development Opportunity

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    Similar Nearby for Lease

    • $14 SF/Yr
      8,471 SF

      Prime Spokane Warehouse Opportunity

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      View Details
    • $6 SF/Yr
      37,643 SF

      Spokane Warehouse: Prime Distribution Space

      37,643 SF Warehouse, Excellent Location
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      View Details
    • $2,000 /Mo
      2,464 SF

      Retail Space on Sprague Avenue

      Retail space available on Sprague Avenue with basement.
      3302 E Sprague Ave, Spokane, WA 99202
      View Details
    • $14 SF/Yr
      2,700 SF

      Retail Space on Sprague Avenue

      Retail space available for lease, 2700 square feet.
      4202-4224 E Sprague Ave, Spokane, WA 99202
      View Details
    • $7,500 /Mo

      Ground Lease Pad with Panda Express

      Commercial land available for ground lease, anchored by Panda Express.
      1719 N Ruby St, Spokane, WA 99202
      View Details
    • Contact for pricing
      28,938 SF

      Land Available For Lease

      Land for lease in Spokane, WA with 28,938 SF.
      412-428 S Freya St, Spokane, WA 99202
      View Details
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    1007 Trent Ave
    Spokane, WA 99202-2162
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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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