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Property profile & analytics
OFF-MARKET
Estimated value
$3,350,000
Distribution centers
10424 Aero Rd Spokane, WA 99224-9405
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US90-0531395
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1994
Total area
30,000 SF
Lot
7.62 ac (331,927 SF)
APN
24072.9038
UPID
US90-0531395
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
-
CITC Spokane Corporate Office
-
Sears MIXLD, Suite F Home Decor Store Department Store
-
Construction Industry Council of Washington High School
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.02M
Comparable Approach
Comparable
$3.69M
Blend (final)
Blend
$3.35M
Owner & transaction history
Aero Road LLC · 9 yrs held
Aero Road LLC
since 2017
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$5.4M
+49.7%
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 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%
$3,265,000
6.5%
$3,015,000
7%
$2,800,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,610,000
Current use
INDUSTRIAL (GENERAL)
$5,400,000
Change: +50% · Conversion: Easy
Blend value · Realmo final
$3.35M
Range $3.02M – $3.69M · ±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
$112 / 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
$49,458
Tax year 2023
Assessed value
$6,818,040
Assessed 2024
Previous assessed
$6,453,640
+5.6% YoY
Effective rate
0.73%
On assessed value
Assessed land
$1,161,740
Assessed improvement
$5,656,300
Land market value
$1,161,740
Improvement market value
$5,656,300
Total market value
$6,818,040
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
Off-Market
Year built
1994
Heating
NONE
Buildings
3
Stories
1
Bathrooms
3
Total area
30,000 SF
Lot
7.62 ac (331,927 SF)
APN
24072.9038
UPID
US90-0531395
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
$3.6M
INDUSTRIAL (GENERAL)
Est. value
$5.4M
WAREHOUSE, STORAGE Current
INDUSTRIAL (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
1994
Heating
NONE
Stories
1
Buildings
3
Bathrooms
3
Lot
7.62 ac
Current owner
From public records · entity-resolved
Aero Road LLC
Entity
Mailing address
12709 E MIRABEAU PKWY STE #10, SPOKANE VALLEY, WA 99216-1666
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
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
May 19, 2017
—
Aero Road LLC
New Afc Realty LLC
Grant Deed
$2,200,000 · Boeing Emps Cu
May 9, 2006
—
New Afc Realty LLC
Wolff,alvin J JR & Eugenia E
Quit Claim Deed
related
—
Oct 14, 2004
$23,893
North Division Complex LLC
Wolff,alvin J & Eugenia E
Warranty Deed
—
—
—
Alvin J Wolff
—
Deed Of Trust
related
$1,705,999 · Us Bank Of Washington
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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