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Property profile & analytics
OFF-MARKET
Estimated value
$1,150,000
Banks
1209 1st Ave Spokane, WA 99201-4101
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US90-3235267
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1955
Construction
CONCRETE
Total area
4,254 SF
Lot
0.36 ac (15,586 SF)
APN
35192.1304
UPID
US90-3235267
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
-
Pacific Northwest Behavior, LLC Consultant Medical Clinic
-
Eric Strozyk - Shift 4 Real Estate - Realtor Real Estate Agency
-
Joel Williamson - Realtor - 4 Degrees Real Estate Agency
-
John McKean, Realty Executives Grant County Real Estate Agency
-
Jamion Botch Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.16M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.15M
Owner & transaction history
1209 First B3smd LLC · 2 yrs held
1209 First B3smd LLC
since 2023
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.1M
+45.5%
Medical building
$1.0M
+39.8%
Retail stores
$920,000
+27.0%
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
$1,100,000
ML approach
$1,155,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$725,000
Current use
OFFICE BUILDING
$1,055,000
Change: +46% · Conversion: Difficult
MEDICAL BUILDING
$1,010,000
Change: +40% · Conversion: Difficult
RETAIL STORES
$920,000
Change: +27% · Conversion: Difficult
AUTO REPAIR, GARAGE
$840,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.15M
Range $1.04M – $1.27M · ±10% · vs last sale $1.18M (Sep 8 2023)
Last sale anchor
$1.18M
Sep 8 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
$270 / 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
$8,558
Tax year 2023
Assessed value
$876,420
Assessed 2024
Previous assessed
$814,050
+7.7% YoY
Effective rate
0.98%
On assessed value
Assessed land
$428,620
Assessed improvement
$447,800
Land market value
$428,620
Improvement market value
$447,800
Total market value
$876,420
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1955
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
4,254 SF
Lot
0.36 ac (15,586 SF)
APN
35192.1304
UPID
US90-3235267
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
FINANCIAL BUILDING Current
Est. value
$725,000
OFFICE BUILDING
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$840,000
FINANCIAL BUILDING Current
OFFICE BUILDING
MEDICAL BUILDING
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
1955
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
1209 First B3smd LLC
Entity
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
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2024
—
Watts Project LLC
—
Deed
related
—
Sep 8, 2023
$1,175,000
1209 First B3smd LLC
Ti Inv LLC
Warranty Deed
$250,000 · Numerica Cu
Dec 17, 2019
—
Ti Inv LLC
—
Deed
related
$940,000 · Numerica Cu
Dec 12, 2018
—
Legion Investments LLC
—
Deed
related
$175,000 · Nathan Hawley
Oct 31, 2018
—
Ti Inv LLC
—
Deed
related
—
Sep 17, 2018
—
Ti Inv LLC
Legion Investments LLC
Quit Claim Deed
related
—
Jun 7, 2018
—
Legion Investments LLC
—
Deed
related
$1,750,000 · Nathan Hawley
Sep 22, 2017
—
Legion Investments LLC
—
Deed
related
$227,903 · Umpqua Bank
Nov 16, 2016
$618,500
Legion Investments LLC
North By Northwest Partners LLC
Warranty Deed
$727,500 · Umpqua Bank
May 1, 2007
—
North By Northwest Ptrs LLC
Foundation Of Continuity/mankind
Grant Deed
related
—
Apr 26, 2007
$750,000
North By Northwest Partners LLC
The Foundation For The Continuity O
Warranty Deed
$600,000 · Us Bank NA
—
—
Ti Inv LLC
—
Loan Modification
related
—
—
—
Ti Inv LLC
—
Loan Modification
related
—
—
—
Legion Investments LLC
—
Deed Of Trust
related
$175,000 · Nathan Hawley
—
—
Ti Inv LLC
—
Deed Of Trust
related
$940,000 · Numerica Cu
—
—
North By Nw Productions INC
—
Deed Of Trust
related
$700,000 · American West Bank
—
—
Legion Investments LLC
—
Deed Of Trust
related
$1,750,000 · Nathan Hawley
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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