Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Grocery and convenience stores
1023 Wellesley Ave Spokane, WA 99205-1272
Entity Owned
6-yr Hold
Free & Clear
Property ID
US90-0078621
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
4,120 SF
Lot
0.36 ac (15,468 SF)
APN
35062.3617
UPID
US90-0078621
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
-
Cenex Gas Station
-
Zip Trip Gas Station
-
Cardtronics ATM Atm
-
Nom nom Grocery & Convenience Store
-
LibertyX Bitcoin ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$405k
CAP Approach
CAP
$770k
Comparable Approach
Comparable
$544k
Blend (final)
Blend
$575k
Owner & transaction history
Par Hawaii LLC · 6 yrs held
Par Hawaii LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$885,000
+457.8%
Office building
$655,000
+312.6%
Auto repair, garage
$540,000
+241.4%
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
$405,000
CAP Approach
CAP Return
Estimation
6%
$835,000
6.5%
$770,000
7%
$715,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$885,000
Change: +458% · Conversion: Easy
OFFICE BUILDING
$655,000
Change: +313% · Conversion: Moderate
AUTO REPAIR, GARAGE
$540,000
Change: +241% · Conversion: Difficult
RETAIL STORES
$470,000
Change: +196% · Conversion: Easy
MEDICAL BUILDING
$390,000
Change: +147% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±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
$140 / 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
$10,378
Tax year 2023
Assessed value
$1,063,180
Assessed 2024
Previous assessed
$955,310
+11.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$108,280
Assessed improvement
$954,900
Land market value
$108,280
Improvement market value
$954,900
Total market value
$1,063,180
Applied tax rate
10.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Total area
4,120 SF
Lot
0.36 ac (15,468 SF)
APN
35062.3617
UPID
US90-0078621
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
COMMERCIAL (GENERAL)
Est. value
$885,000
OFFICE BUILDING
Est. value
$655,000
AUTO REPAIR, GARAGE
Est. value
$540,000
RETAIL STORES
Est. value
$470,000
MEDICAL BUILDING
Est. value
$390,000
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
MEDICAL 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
1974
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
1
Bathrooms
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
Par Hawaii LLC
Entity
Free & Clear · 6 yrs held
Mailing address
825 TOWN AND COUNTRY LN STE #1500, HOUSTON, TX 77024-2235
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 30, 2019
—
Par Hawaii LLC
Par Hawaii INC
Quit Claim Deed
—
Mar 26, 2018
$944,710
Par Hawaii INC
Chs INC
Bargain And Sale Deed
—
May 13, 2010
—
Chs INC
Cenex Petroleum INC
Quit Claim Deed
related
—
May 2, 2008
$760,721
Cenex Petroleum INC
Jo-by Ents LLC
Warranty Deed
—
Aug 15, 2006
$345,720
Jo-by Ents LLC
Armacost,ronald R
Warranty Deed
—
Mar 10, 1999
—
Ronald R Armacost
—
Deed Of Trust
related
$10,915,000 · Wells Fargo Bank
Jan 10, 1997
$1,659,101
Ronald R Armacost
Poage,thomas W & Shirley J
Grant Deed
$2,084,067 · Seller
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1023 Wellesley Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
