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Property profile & analytics
OFF-MARKET
Estimated value
$540,000
Retail space
114 Wellesley Ave, Spokane, WA 99207-1413
Entity Owned
~
Est. High Equity
Property ID
US90-1498750
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1964
Construction
STEEL FRAME
Total area
7,616 SF
Lot
0.27 ac (11,672 SF)
APN
35052.0319
UPID
US90-1498750
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
$335k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$410k
Blend (final)
Blend
$540k
Owner & transaction history
The Middle East Bldg LLC
The Middle East Bldg LLC
since 2026
Last sale
$575,000
4 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 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
$335,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$540k
Range $486k – $594k · ±10% · vs last sale $575k (Mar 2 2026)
Last sale anchor
$575k
Mar 2 2026
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
$71 / 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
$3,978
Tax year 2023
Assessed value
$406,740
Assessed 2024
Previous assessed
$372,000
+9.3% YoY
Effective rate
0.98%
On assessed value
Assessed land
$87,540
Assessed improvement
$319,200
Land market value
$87,540
Improvement market value
$319,200
Total market value
$406,740
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1964
Construction
STEEL FRAME
Heating
NONE
Stories
2
Bathrooms
4
Total area
7,616 SF
Lot
0.27 ac (11,672 SF)
APN
35052.0319
UPID
US90-1498750
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
Building & site characteristics
From public records
Year built
1964
Construction
STEEL FRAME
Heating
NONE
Stories
2
Bathrooms
4
Lot
0.27 ac
Current owner
From public records · entity-resolved
The Middle East Bldg LLC
Entity
Mailing address
2721 E SNEAD AVE, SPOKANE, WA 99223-9583
Ownership since
2026
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
Mar 2, 2026
$575,000
The Middle East Bldg LLC
Cynthia Vigil
Warranty Deed
$400,000 · Spokane Teachers Cu
Oct 13, 2016
—
Cynthia Vigil
—
Deed
related
$221,100 · Spokane Teachers Cu
Nov 17, 2006
$385,000
Joseph R Vigil
Vigil Living Trust
Warranty Deed
related
$288,750 · Spokane Teachers Cu
—
—
Cynthia Vigil
—
Deed Of Trust
related
$221,100 · Spokane Teachers Cu
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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