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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Office buildings
10620 12th Ave, Airway Heights, WA 99001
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-0591594
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2005
Total area
1,700 SF
Lot
6.75 ac (293,917 SF)
APN
25193.9050
UPID
US90-0591594
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
$610k
CAP Approach
CAP
$400k
Comparable Approach
Comparable
$632k
Blend (final)
Blend
$505k
Owner & transaction history
City Of Airway Heights · 2 yrs held
City Of Airway Heights
since 2023
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Airway Heights submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Airway Heights 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
$610,000
CAP Approach
CAP Return
Estimation
6%
$435,000
6.5%
$400,000
7%
$370,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$425,000
Current use
MEDICAL BUILDING
$405,000
Change: -5% · Conversion: Easy
RETAIL STORES
$390,000
Change: -8% · Conversion: Moderate
Blend value · Realmo final
$505k
Range $455k – $556k · ±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
$297 / 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
$87,614
Tax year 2023
Assessed value
$10,970,000
Assessed 2024
Previous assessed
$8,358,300
+31.2% YoY
Effective rate
0.80%
On assessed value
Assessed land
$589,000
Assessed improvement
$10,381,000
Land market value
$589,000
Improvement market value
$10,381,000
Total market value
$10,970,000
Applied tax rate
390.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2005
Heating
NONE
Buildings
9
Stories
3
Units
18
Total area
1,700 SF
Lot
6.75 ac (293,917 SF)
APN
25193.9050
UPID
US90-0591594
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
OFFICE BUILDING Current
Est. value
$425,000
MEDICAL BUILDING
Est. value
$405,000
RETAIL STORES
Est. value
$390,000
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
2005
Heating
NONE
Stories
3
Buildings
9
Units
18
Lot
6.75 ac
Current owner
From public records · entity-resolved
City Of Airway Heights
Entity
Mailing address
1208 S LUNDSTROM ST, AIRWAY HEIGHTS, WA 99001-9000
Ownership since
2023
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
Jul 25, 2023
—
City Of Airway Heights
Cedar Summit Estates Phase I LLC
Warranty Deed
—
Aug 13, 2004
—
Cedar Summit Estates Ph I LLC
—
Deed Of Trust
related
$4,360,000 · Washington Trust Bank
Aug 9, 2004
—
Cedar Summit Estates Ph I LLC
Cedar Summit Ests Ph I LLC
Quit Claim Deed
related
—
—
—
Cedar Summit Estates Ph I LLC
—
Deed Of Trust
related
$4,420,000 · Life Insurance Of Southwest
—
—
Cedar Summit Estates Phase I L
—
Deed Of Trust
related
$13,600,000 · Miscellaneous Ins Co
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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