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Property profile & analytics
OFF-MARKET
Estimated value
$2,345,000
Grocery and convenience stores
11980 Sunset Hwy Airway Heights, WA 99001-9474
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0021158
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1997
Total area
6,642 SF
Lot
1.53 ac (66,659 SF)
APN
15243.0039
UPID
US90-0021158
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
$2.28M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.80M
Blend (final)
Blend
$2.35M
Owner & transaction history
Olivia Management INC · 1 yrs held
Olivia Management INC
since 2025
Last sale
$2.1M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$1.6M
+508.5%
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
$2,460,000
ML approach
$2,275,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,555,000
Change: +509% · Conversion: Difficult
Blend value · Realmo final
$2.35M
Range $2.11M – $2.58M · ±10% · vs last sale $2.10M (May 1 2025)
Last sale anchor
$2.10M
May 1 2025
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
$353 / 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
$14,833
Tax year 2023
Assessed value
$1,887,850
Assessed 2024
Previous assessed
$1,806,050
+4.5% YoY
Effective rate
0.79%
On assessed value
Assessed land
$399,950
Assessed improvement
$1,487,900
Land market value
$399,950
Improvement market value
$1,487,900
Total market value
$1,887,850
Applied tax rate
370.0000
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1997
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Bathrooms
1
Total area
6,642 SF
Lot
1.53 ac (66,659 SF)
APN
15243.0039
UPID
US90-0021158
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
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS)
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
1997
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Bathrooms
1
Lot
1.53 ac
Current owner
From public records · entity-resolved
Olivia Management INC
Entity
Mailing address
1 S GRADY WAY, RENTON, WA 98057-2500
Ownership since
2025
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
May 1, 2025
$2,100,000
Olivia Management INC
Ajs Investors LLC
Warranty Deed
$1,575,000 · Wheatland Bank
Mar 6, 2020
$1,025,000
Ajs Investors LLC
Mccallan & Sons INC
Quit Claim Deed
related
$819,000 · Eastside Funding LLC
May 2, 2008
$1,710,000
Hooshang Afghani
Osterberger,kevin F
Grant Deed
$946,800 · Wilshire State Bank
—
—
Hooshang Afghani
—
Deed Of Trust
related
$580,000 · Rural Housing & Community Dev
—
—
Kevin F Osterberger
—
Deed Of Trust
related
$90,000 · Washington Trust Bank
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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