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Property profile & analytics
FOR SALE
Manufacturing properties
1023 N Monroe St, Spokane, WA 99201
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0269580
For Sale
1 / 22
$2,255,000
1023 N Monroe St, Spokane, WA 99201
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1948
Construction
CONCRETE
Total area
15,295 SF
Lot
1.08 ac (47,213 SF)
APN
35182.0002
UPID
US90-0269580
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
-
Rebuilt Engine Store Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.19M
CAP Approach
CAP
$1.37M
Comparable Approach
Comparable
$2.02M
Blend (final)
Blend
$2.26M
Owner & transaction history
Lawrence B Stone Properties 1023 Ll · 3 yrs held
Lawrence B Stone Properties 1023 Ll
since 2022
Last sale
$2.4M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.6M
+32.1%
Restaurant
$3.4M
+23.1%
Retail stores
$3.3M
+20.0%
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
$2,205,000
ML approach
$2,190,000
CAP Approach
CAP Return
Estimation
6%
$1,485,000
6.5%
$1,370,000
7%
$1,270,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,755,000
Current use
MEDICAL BUILDING
$3,640,000
Change: +32% · Conversion: Difficult
RESTAURANT
$3,390,000
Change: +23% · Conversion: Difficult
RETAIL STORES
$3,305,000
Change: +20% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,025,000
Change: +10% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,470,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$2.26M
Range $2.03M – $2.48M · ±10% · vs last sale $2.43M (Sep 23 2022)
Last sale anchor
$2.43M
Sep 23 2022
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
$147 / 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
$9,804
Tax year 2023
Assessed value
$1,004,220
Assessed 2024
Previous assessed
$911,200
+10.2% YoY
Effective rate
0.98%
On assessed value
Assessed land
$424,920
Assessed improvement
$579,300
Land market value
$424,920
Improvement market value
$579,300
Total market value
$1,004,220
Applied tax rate
12.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
For Sale
Year built
1948
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
15,295 SF
Lot
1.08 ac (47,213 SF)
APN
35182.0002
UPID
US90-0269580
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
INDUSTRIAL (GENERAL) Current
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$3.6M
RESTAURANT
Est. value
$3.4M
RETAIL STORES
Est. value
$3.3M
AUTO REPAIR, GARAGE
Est. value
$3.0M
COMMERCIAL (GENERAL)
Est. value
$2.5M
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1948
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
1.08 ac
Current owner
From public records · entity-resolved
Lawrence B Stone Properties 1023 Ll
Entity
Mailing address
520 N DYER RD, SPOKANE VALLEY, WA 99212-1006
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 23, 2022
$2,425,000
Lawrence B Stone Properties 1023 Ll
J & L Johnson LLC
Warranty Deed
—
Jan 5, 2010
—
J & L Johnson LLC
Johnson,jeffrey L & Linda D
Quit Claim Deed
related
—
—
—
Marshall Gates
—
Deed Of Trust
related
$111,000 · America's Wholesale Lender
—
—
Jeffrey L Johnson
—
Deed Of Trust
related
$176,371 · Washington Trust Bank
—
—
J & L Johnson LLC
—
Deed Of Trust
related
$261,992 · Washington Trust 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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