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Property profile & analytics
FOR LEASE
Distribution centers
10110 W Aero Rd Spokane, WA 99224
Entity Owned
1-yr Hold
Free & Clear
Property ID
US90-1919036
For Lease
1 / 4
$19,460,000
10110 W Aero Rd, Spokane, WA 99224
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1979
Total area
252,720 SF
Lot
28.78 ac (1,253,656 SF)
APN
24072.9091
UPID
US90-1919036
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$25.40M
Comparable Approach
Comparable
$19.48M
Blend (final)
Blend
$19.46M
Owner & transaction history
Aerohold LLC · 1 yrs held
Aerohold LLC
since 2025
Last sale
$20.0M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Spokane submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$27,515,000
6.5%
$25,400,000
7%
$23,585,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$30,395,000
Current use
Blend value · Realmo final
$19.46M
Range $17.51M – $21.41M · ±10% · vs last sale $20.00M (Dec 14 2024)
Last sale anchor
$20.00M
Dec 14 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$77 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$201,878
Tax year 2023
Assessed value
$22,955,110
Assessed 2024
Previous assessed
$21,326,110
+7.6% YoY
Effective rate
0.88%
On assessed value
Assessed land
$2,507,310
Assessed improvement
$20,447,800
Land market value
$2,507,310
Improvement market value
$20,447,800
Total market value
$22,955,110
Applied tax rate
1,881.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Lease
Year built
1979
Heating
NONE
Buildings
3
Stories
1
Total area
252,720 SF
Lot
28.78 ac (1,253,656 SF)
APN
24072.9091
UPID
US90-1919036
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$30.4M
WAREHOUSE, STORAGE Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1979
Heating
NONE
Stories
1
Buildings
3
Lot
28.78 ac
Current owner
From public records · entity-resolved
Aerohold LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2415 E 52ND LN, SPOKANE, WA 99223-6522
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2025
$20,000,000
Aerohold LLC
Jensen Real Estate Investors INC
Bargain & Sale Deed
—
Nov 30, 2020
—
Jensen Real Estate Investors INC
—
Deed
related
$1,000,000 · Washington Trust Bank
Dec 31, 2014
—
Jensen Real Estate Investors I
Jensen-byrd Co INC
Quit Claim Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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