New search
Property profile & analytics
FOR LEASE
Retail space
115 N Washington St, Spokane, WA 99201
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-3200662
For Lease
$18 SF/Yr
115 N Washington St, Spokane, WA 99201
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1891
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
3,000 SF
Lot
0.07 ac (3,143 SF)
APN
35184.2302
UPID
US90-3200662
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
-
Mullin Cronin Casey & Blair Law Firm
-
Casey Mark C Law Firm
-
GLP Personal Injury Attorneys Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.09M
Blend (final)
Blend
$1.17M
Owner & transaction history
Spokane Jockey Club Partners LLC · 4 yrs held
Spokane Jockey Club Partners LLC
since 2021
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$745,000
+14.6%
Medical building
$715,000
+10.1%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$745,000
Change: +15% · Conversion: Easy
MEDICAL BUILDING
$715,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$1.17M
Range $1.05M – $1.29M · ±10% · vs last sale $1.28M (Sep 10 2021)
Last sale anchor
$1.28M
Sep 10 2021
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
$390 / 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
$11,572
Tax year 2023
Assessed value
$1,185,620
Assessed 2024
Previous assessed
$1,141,600
+3.9% YoY
Effective rate
0.98%
On assessed value
Assessed land
$224,720
Assessed improvement
$960,900
Land market value
$224,720
Improvement market value
$960,900
Total market value
$1,185,620
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
For Lease
Year built
1891
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Bathrooms
3
Total area
3,000 SF
Lot
0.07 ac (3,143 SF)
APN
35184.2302
UPID
US90-3200662
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
Est. value
$745,000
MEDICAL BUILDING
Est. value
$715,000
OFFICE BUILDING
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
1891
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Stories
3
Bathrooms
3
Lot
0.07 ac
Current owner
From public records · entity-resolved
Spokane Jockey Club Partners LLC
Entity
Mailing address
2601 4TH AVE, SEATTLE, WA 98121-3208
Ownership since
2021
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
Sep 10, 2021
$1,275,000
Spokane Jockey Club Partners LLC
Bellingham Condo Investments LLC
Warranty Deed
$1,064,000 · Banner Bank
Aug 31, 2017
$1,050,000
Bellingham Condo Invs LLC
Legacy Interests LLC
Grant Deed
related
—
Jul 12, 2017
$1,050,000
Bellingham Condo Inv LLC
Legacy Interests LLC
Warranty Deed
$787,500 · Spokane Teachers Cu
Feb 5, 2016
$920,000
Legacy Interest LLC
Sonrise Land LLC
Warranty Deed
$550,000 · Washington Trust Bank
Sep 11, 2009
$850,689
Sonrise Land LLC
Cronin,timothy P & Barbara
Warranty Deed
$500,000 · Spokane Teachers Cu
Sep 4, 2009
—
Timothy P Cronin
Jockey Club Investments
Quit Claim Deed
related
—
—
—
Jockey Club Investments
—
Deed Of Trust
related
$375,000 · Headlands Mortgage
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?”
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.
