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Property profile & analytics
FOR SALE
Turn key restaurants
120 W 3Rd Ave Spokane, WA 99201
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US90-1781233
For Sale
1 / 70
$4,195,000
120 W 3Rd Ave, Spokane, WA 99201
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1964
Total area
4,172 SF
Lot
0.72 ac (31,500 SF)
APN
35191.1216
UPID
US90-1781233
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
-
The Imperial Apartment Complex Apartment Building
-
Evergreen Hotel & Suites Hotel & Motel
-
120 W 3rd Ave Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$465k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$626k
Blend (final)
Blend
$545k
Owner & transaction history
Cv The Imperial LLC · 4 yrs held
Cv The Imperial LLC
since 2022
7 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
$465,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$900,000
Change: -3% · Conversion: Easy
AUTO REPAIR, GARAGE
$825,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±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
$131 / 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
$22,816
Tax year 2023
Assessed value
$2,338,750
Assessed 2024
Previous assessed
$2,169,500
+7.8% YoY
Effective rate
0.98%
On assessed value
Assessed land
$866,250
Assessed improvement
$1,472,500
Land market value
$866,250
Improvement market value
$1,472,500
Total market value
$2,338,750
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
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1964
Heating
NONE
Buildings
2
Stories
1
Bathrooms
1
Total area
4,172 SF
Lot
0.72 ac (31,500 SF)
APN
35191.1216
UPID
US90-1781233
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
RETAIL STORES
Est. value
$900,000
AUTO REPAIR, GARAGE
Est. value
$825,000
RETAIL STORES
AUTO REPAIR, GARAGE
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
1964
Heating
NONE
Stories
1
Buildings
2
Bathrooms
1
Lot
0.72 ac
Current owner
From public records · entity-resolved
Cv The Imperial LLC
Entity
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2022
—
Cv The Imperial LLC
Stk Imperial LLC
Quit Claim Deed
related
$9,063,500 · First Republic Bank
Jan 22, 2021
—
Stk Imperial LLC
—
Deed
related
$37,500,000 · First Republic Bank
Nov 5, 2020
—
Stk Imperial LLC
Pender West Credit I Reit LLC
Warranty Deed
—
Jan 22, 2020
$4,747,247
Pender West Credit I Reit LLC
Blackstone Corp|its Investing Spokane LLC
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
related
—
Jun 28, 2018
$5,750,000
Its Investing Spokane LLC
Aa Investors LLC
Trustees Deed
$3,450,000 · Pender Cap Asset Based Lndg Fu
Apr 26, 2017
—
Aa Investors LLC
—
Loan Modification
related
$1,561,279 · Us Bk
Dec 30, 2016
—
Aa Investors LLC
—
Deed
related
$262,500 · Eastside Funding LLC
Sep 17, 2007
$650,000
Jarman Hothi
Crabb Erma R Trust
Warranty Deed
$1,845,997 · Banner 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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