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Property profile & analytics
OFF-MARKET
Estimated value
$2,145,000
Medical Office Space
1017 Pnes Rd, Spokane Valley, WA 99206-4934
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0086017
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
2001
Total area
7,292 SF
Lot
1.24 ac (53,943 SF)
APN
45161.0794
UPID
US90-0086017
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
$2.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$2.15M
Owner & transaction history
Bpg Investments III LLC · 2 yrs held
Bpg Investments III LLC
since 2024
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.0M
+101.4%
Auto repair, garage
$2.0M
+32.3%
Restaurant
$1.6M
+6.7%
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 Valley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane Valley 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
$2,145,000
ML approach
$2,145,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,480,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,980,000
Change: +101% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,960,000
Change: +32% · Conversion: Difficult
RESTAURANT
$1,580,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$1,370,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$2.15M
Range $1.93M – $2.36M · ±10% · vs last sale $2.14M (Mar 13 2024)
Last sale anchor
$2.14M
Mar 13 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
$294 / 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
$15,657
Tax year 2023
Assessed value
$1,587,100
Assessed 2024
Previous assessed
$1,512,200
+5.0% YoY
Effective rate
0.99%
On assessed value
Assessed land
$377,600
Assessed improvement
$1,209,500
Land market value
$377,600
Improvement market value
$1,209,500
Total market value
$1,587,100
Applied tax rate
144.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
2001
Heating
NONE
Stories
1
Total area
7,292 SF
Lot
1.24 ac (53,943 SF)
APN
45161.0794
UPID
US90-0086017
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
MEDICAL BUILDING Current
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RESTAURANT
Est. value
$1.6M
OFFICE BUILDING
Est. value
$1.4M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
RESTAURANT
OFFICE BUILDING
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
2001
Heating
NONE
Stories
1
Lot
1.24 ac
Current owner
From public records · entity-resolved
Bpg Investments III LLC
Entity
Mailing address
401 UN ST, SEATTLE, WA 98101-2668
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 13, 2024
$2,143,000
Bpg Investments III LLC
J R Burkes INC
Warranty Deed
$1,400,000 · Capital Educators FCU
Mar 7, 2022
—
J R Burkes INC
—
Deed
related
$698,000 · Banner Bank
Aug 30, 2011
—
J R Burkes INC
—
Trustees Deed
related
$100,000 · Banner Bank
Apr 16, 2004
—
Ransom Vaughn R & Beth T Trust
Ayers,james E
Quit Claim Deed
related
—
Mar 12, 2004
$1,750,000
J R Burkes INC
North Pines Investment Group
Grant Deed
$941,454 · American West Bank
Feb 19, 2004
—
James E Ayers
Ayers,sandra J
Quit Claim Deed
related
—
—
—
JR Burkes INC
—
Deed Of Trust
related
$950,000 · American West Bank
—
—
J R Burkes INC
—
Deed Of Trust
related
$150,000 · Banner Bank
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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