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Property profile & analytics
FOR LEASE
Retail space
10208 N Division St Spokane, WA 99218
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US90-0988232
For Lease
1 / 3
$3,160,000
10208 N Division St, Spokane, WA 99218
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2004
Total area
22,042 SF
Lot
3.84 ac (167,261 SF)
APN
36173.1173
UPID
US90-0988232
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
Current use
Occupant on record · Public records
-
Matthew P. Fain, PT Physician
-
Yarbro Family Dentistry Dental Office
-
Fleet Feet North Spokane Clothing & Fashion Store (Bike/Boat/Book/etc) Store
-
North Spokane Auto Licensing Department Of Motor Vehicles Driver And Vehicle Licensing Agency
-
Foxy Nails Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.52M
Comparable Approach
Comparable
$2.07M
Blend (final)
Blend
$3.16M
Owner & transaction history
Lakeshore Investments Corporation · 4 yrs held
Lakeshore Investments Corporation
since 2021
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.2M
+3.3%
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%
$3,810,000
6.5%
$3,520,000
7%
$3,265,000
Alternative Use
Use
Estimation
RETAIL STORES
$5,075,000
Current use
MEDICAL BUILDING
$5,245,000
Change: +3% · Conversion: Difficult
RESTAURANT
$4,885,000
Change: -4% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,355,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$3.16M
Range $2.84M – $3.48M · ±10%
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
$143 / 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
$42,251
Tax year 2023
Assessed value
$4,500,090
Assessed 2024
Previous assessed
$4,107,630
+9.6% YoY
Effective rate
0.94%
On assessed value
Assessed land
$2,174,390
Assessed improvement
$2,325,700
Land market value
$2,174,390
Improvement market value
$2,325,700
Total market value
$4,500,090
Applied tax rate
1,280.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Year built
2004
Heating
NONE
Stories
1
Total area
22,042 SF
Lot
3.84 ac (167,261 SF)
APN
36173.1173
UPID
US90-0988232
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
RETAIL STORES Current
Est. value
$5.1M
MEDICAL BUILDING
Est. value
$5.2M
RESTAURANT
Est. value
$4.9M
AUTO REPAIR, GARAGE
Est. value
$4.4M
RETAIL STORES Current
MEDICAL BUILDING
RESTAURANT
AUTO REPAIR, GARAGE
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
2004
Heating
NONE
Stories
1
Lot
3.84 ac
Current owner
From public records · entity-resolved
Lakeshore Investments Corporation
Entity
Mailing address
601 W MAIN AVE STE #400, SPOKANE, WA 99201-0613
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 24, 2021
—
Lakeshore Investments Corporation
—
Deed
related
$1,000,000 · Peoples Bank
Sep 21, 2009
—
Divine Corp
—
Deed Of Trust
related
$6,989,600 · Numerica Cu
—
—
Divine Corp
—
Deed Of Trust
related
$800,000 · Numerica Cu
—
—
Lakeshore Investment Corp
—
Deed Of Trust
related
$2,175,000 · Bank Of America
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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