Property profile

1227 Division St Spokane, WA 99202

OFF-MARKET
Turn key restaurants
Property ID
US90-2731662
3,000 SF 0.09 ac lot Built 1903
Individually Owned 20-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional mixed-use property, located at 1227 N Division St in Spokane, Washington, 99202, presents a unique investment opportunity. The 4,500 square foot building is currently vacant, offering a blank canvas for a discerning buyer. Its versatile configuration encompasses an apartment building, restaurant space, and storefront, allowing for diverse income streams or a single, cohesive operation. The property's zoning allows for a potential live-work arrangement, appealing to entrepreneurs and investors seeking a blend of residential and commercial uses. Situated in Spokane County, this location benefits from excellent visibility and accessibility. The asking price is $650,000. While the current occupancy is vacant, this presents a chance to customize the space to meet specific needs and maximize rental income. The property's diverse subtypes offer flexibility for various business models, from a restaurant with attached apartments to a retail space with residential units above. This is an ideal opportunity for those seeking a high-return investment in a thriving Spokane location. The property's size and layout provide ample space for creative development and adaptation to a wide range of uses. Serious inquiries are encouraged to explore the full potential of this remarkable mixed-use building.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1903
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 3,000 SF
Lot 0.09 ac (3,800 SF)
APN 35181.0804
UPID US90-2731662

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant

Location

1227 Division St Spokane, WA 99202-1729
Spokane metro Census 2400 SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$325k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$325k

Owner & transaction history

since 2006
4 recorded transactions
2006
$250,000
2002
$145,000
1995
$70,000
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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