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Property profile & analytics
OFF-MARKET
Estimated value
$2,570,000
Office buildings
12 Rowan Ave Spokane, WA 99207-6007
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US90-0472752
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1988
Total area
5,644 SF
Lot
0.57 ac (24,800 SF)
APN
36323.2007
UPID
US90-0472752
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
-
Tom Cho DDS Dental Office
-
Johnson Amy PhD Physician Medical Clinic
-
Ryan Dubois Physician
-
Paul Rosenbaum Physician
-
Brandon Belloir Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.61M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.10M
Blend (final)
Blend
$2.57M
Owner & transaction history
12 Spokane LLC · 3 yrs held
12 Spokane LLC
since 2023
Last sale
$2.6M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$3.1M
+120.7%
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
$2,450,000
ML approach
$2,610,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,115,000
Change: +121% · Conversion: Easy
Blend value · Realmo final
$2.57M
Range $2.31M – $2.83M · ±10% · vs last sale $2.61M (May 15 2023)
Last sale anchor
$2.61M
May 15 2023
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
$455 / 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
$25,155
Tax year 2023
Assessed value
$2,578,600
Assessed 2024
Previous assessed
$2,343,000
+10.1% YoY
Effective rate
0.98%
On assessed value
Assessed land
$272,800
Assessed improvement
$2,305,800
Land market value
$272,800
Improvement market value
$2,305,800
Total market value
$2,578,600
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
Office buildings
Use group
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1988
Heating
NONE
Stories
2
Bathrooms
2
Total area
5,644 SF
Lot
0.57 ac (24,800 SF)
APN
36323.2007
UPID
US90-0472752
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
$3.1M
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
1988
Heating
NONE
Stories
2
Bathrooms
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
12 Spokane LLC
Entity
Mailing address
12218 51ST PL S, TUKWILA, WA 98178-3432
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
May 15, 2023
$2,610,000
12 Spokane LLC
Efrain Ramirez
Warranty Deed
$1,902,500 · Spokane Teacher Cu
Nov 22, 2019
$2,300,000
Efrain Ramirez
Fppc LLC
Warranty Deed
$1,725,000 · Commercial Lndg
Aug 30, 2010
$1,390,000
Fppc LLC
Bell,michael R
Warranty Deed
—
Aug 16, 1995
$800,000
Michael R Bell
Wavra,james C
Grant Deed
$700,000 · Sterling Savings Association
—
—
Fppc LLC
—
Deed Of Trust
related
$900,000 · Numerica 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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