Add Listing
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

    101 8th Ave Spokane, WA 99204-2307

    • Medical Office Space
    • 304,423 SF
    • 12.44 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-1505339
    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

    • Sacred Heart Florist / (Bike/Boat/Book/etc) Store / Florist
    • Sacred Heart Gift Shop / (Bike/Boat/Book/etc) Store
    • Sacred Heart Psychiatric Center for Children and Adolescents / Medical Clinic
    • Providence Sacred Heart Medical Center / Hospital
    • Child Neurology - Sacred Heart Children's Hospital / Hospital

    Property Details for 101 8th Ave

    Year built
    1973
    Lot size
    12.44 lot acres
    Property size
    304,423 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    35196.3005
    APU
    351963005

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $65,535,000
      6.5%
      $60,495,000
      7%
      $56,175,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $41,998,000
      Market price range: $16.0M - $42.0M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $72,405,000
      Current use
      OFFICE BUILDING
      $76,140,000
      Change: +5% Conversion: Easy
      RETAIL STORES
      $70,110,000
      Change: -3% Conversion: Difficult
      RESTAURANT
      $67,470,000
      Change: -7% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $60,165,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.414
    Latitude
    47.6493
    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
    $279,811
    $11,921,120
    $208,161,200
    $220,082,320
    -
    $11,921,120
    $208,161,200
    $220,082,320

    Comparable in this City

    • Value Estimation
      $735,000
      3,969 SF

      514 Washington St

      MEDICAL BUILDING • 3,969 SF
      514 Washington St, Spokane, WA 99204-2620
      View Details
    • Value Estimation
      $855,000
      7,210 SF

      823 7th Ave

      MEDICAL BUILDING • 7,210 SF
      823 7th Ave, Spokane, WA 99204-2850
      View Details
    • Value Estimation
      $3,225,000
      18,850 SF

      601 5th Ave

      MEDICAL BUILDING • 18,850 SF
      601 5th Ave, Spokane, WA 99204-2705
      View Details
    • Value Estimation
      $5,680,000
      55,440 SF

      801 5th Ave

      MEDICAL BUILDING • 55,440 SF
      801 5th Ave, Spokane, WA 99204-2823
      View Details
    • Value Estimation
      $2,845,000
      20,270 SF

      25 5th Ave

      MEDICAL BUILDING • 20,270 SF
      25 5th Ave, Spokane, WA 99204-4601
      View Details
    • Value Estimation
      $1,930,000
      22,812 SF

      307 6th Ave

      MEDICAL BUILDING • 22,812 SF
      307 6th Ave, Spokane, WA 99204-2539
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      7,459 SF

      Historic Spokane Building For Sale

      7,459 SF Class-B building in Spokane's medical district.
      820 W 7Th Ave, Spokane, WA 99204
      View Details
    • $425,000
      3,130 SF

      South Hill Spokane Duplex

      Charming 1908 duplex with investment potential in desirable location.
      511 W 14Th Ave, Spokane, WA 99204
      View Details
    • $975,000

      South Hill Apartment Building

      9-Unit Multifamily Investment Opportunity
      1412 11Th Ave, Spokane, WA 99204
      View Details
    • $1,335,000
      7,824 SF

      Walnut St 8-Unit Apartment Complex

      Spokane, WA Multifamily Investment
      620 Walnut St, Spokane, WA 99204
      View Details
    • $159,000

      South Hill Land Opportunity

      Corner lot on South Hill near hospitals with city views.
      528 South Monroe St, Spokane, WA 99204
      View Details
    • Contact for pricing

      Five Parcels South Hill Location

      Prime location near I-90, Gonzaga, Downtown, and Sacred Heart.
      702-712 E 5Th Ave, Spokane, WA 99204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      70,274 SF

      Spokane Medical Office Building

      Prime Spokane medical office space available.
      110 Cliff Dr, Spokane, WA 99204
      View Details
    • $4 SF/Yr
      10,092 SF

      Prime Spokane Medical Office Space

      10,092 SF Medical Building, 6,242 SF Vacant
      507 Washington St, Spokane, WA 99204
      View Details
    • $13 SF/Yr
      7,080 SF

      Spokane Office/Medical Space Available

      Office and medical space available for lease in Spokane, WA.
      110 W Cliff Dr, Spokane, WA 99204
      View Details
    • $500 /Mo

      Office Space Near Medical District

      Office suites available in historic Marycliff Hall near downtown.
      707 W 7Th Ave, Spokane, WA 99204
      View Details
    • $35 SF/Yr
      1,170 SF

      Premium Office Space For Rent

      High-end office space with ample parking, convenient location.
      315 W 9Th Ave, Spokane, WA 99204
      View Details
    • $35 SF/Yr
      1,170 SF

      Downtown Spokane Office Space

      Prime Office Suite, Ample Parking
      315 9Th Ave, Spokane, WA 99204
      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.
    101 8th Ave
    Spokane, WA 99204-2307
    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.
    Sign Up Successful!
    You now have access to more from Realmo!