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Property profile & analytics
OFF-MARKET
Estimated value
$4,865,000
Hotels
1120 Division St, Spokane, WA 99202-1705
Entity Owned
17-yr Hold
Free & Clear
Property ID
US90-1865529
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1921
Total area
54,503 SF
Lot
2.11 ac (91,954 SF)
APN
35172.2309
UPID
US90-1865529
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
-
Ruby Suites Vacation Rental
-
Caruso's Sandwiches and Artisan Pizza Restaurant
-
QDOBA Mexican Eats Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.38M
Comparable Approach
Comparable
$4.35M
Blend (final)
Blend
$4.87M
Owner & transaction history
Burgans Block LLC · 17 yrs held
Burgans Block LLC
since 2008
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$8.0M
+72.0%
Commercial (general)
$7.1M
+52.8%
Office building
$6.9M
+48.2%
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%
$5,825,000
6.5%
$5,375,000
7%
$4,995,000
Alternative Use
Use
Estimation
HOTEL/MOTEL
$4,640,000
Current use
AUTO REPAIR, GARAGE
$7,980,000
Change: +72% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,090,000
Change: +53% · Conversion: Difficult
OFFICE BUILDING
$6,875,000
Change: +48% · Conversion: Difficult
RESTAURANT
$6,595,000
Change: +42% · Conversion: Difficult
RETAIL STORES
$5,975,000
Change: +29% · Conversion: Difficult
MEDICAL BUILDING
$4,940,000
Change: +7% · Conversion: Difficult
Blend value · Realmo final
$4.87M
Range $4.38M – $5.35M · ±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
$89 / 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
$48,896
Tax year 2023
Assessed value
$11,834,640
Assessed 2024
Previous assessed
$8,646,200
+36.9% YoY
Effective rate
0.41%
On assessed value
Assessed land
$2,528,740
Assessed improvement
$9,305,900
Land market value
$2,528,740
Improvement market value
$9,305,900
Total market value
$11,834,640
Applied tax rate
14.0000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1921
Heating
NONE
Buildings
2
Stories
4
Units
1
Total area
54,503 SF
Lot
2.11 ac (91,954 SF)
APN
35172.2309
UPID
US90-1865529
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
HOTEL/MOTEL Current
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$8.0M
COMMERCIAL (GENERAL)
Est. value
$7.1M
OFFICE BUILDING
Est. value
$6.9M
RESTAURANT
Est. value
$6.6M
RETAIL STORES
Est. value
$6.0M
MEDICAL BUILDING
Est. value
$4.9M
HOTEL/MOTEL Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1921
Heating
NONE
Stories
4
Buildings
2
Units
1
Lot
2.11 ac
Current owner
From public records · entity-resolved
Burgans Block LLC
Entity
Free & Clear · 17 yrs held
Mailing address
1915 E KATELLA AVE STE A, ORANGE, CA 92867-5110
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 12, 2008
$2,400,100
Burgans Block LLC
Burgans R/e Holdings LLC
Warranty Deed
related
—
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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