Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1229 Chesnut St Spokane, WA

    • Warehouses
    • 504 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US90-2246381
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Warehouses

    Property Details for 1229 Chesnut St

    Year built
    2002
    Lot size
    0.06 lot acres
    Property size
    504 SF
    Property type
    Warehouses
    APN
    25244.5509
    APU
    252445509

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $260,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spokane
    County
    Spokane
    State
    Washington
    Longitude
    -117.443
    Latitude
    47.6439
    CBSA code
    44060
    CBSA name
    SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $10,770
    $39,400
    $50,170
    -
    $10,770
    $39,400
    $50,170

    Comparable in this City

    • Value Estimation
      $315,000
      11,200 SF

      5005th Pacific Hwy

      WAREHOUSE, STORAGE • 11,200 SF
      5005th Pacific Hwy, E, WA
      View Details
    • Value Estimation
      $360,000
      12,364 SF

      75th St

      WAREHOUSE, STORAGE • 12,364 SF
      75th St, W, WA
      View Details
    • Value Estimation
      $870,000
      55,000 SF

      20th St

      WAREHOUSE, STORAGE • 55,000 SF
      20th St, E, WA
      View Details
    • Value Estimation
      $1,265,000
      24,635 SF

      To9684 Bujacich Rd, WA

      WAREHOUSE, STORAGE • 24,635 SF
      To9684 Bujacich Rd, WA
      View Details
    • Value Estimation
      $280,000
      8,640 SF

      Lincoln Ave, WA

      WAREHOUSE, STORAGE • 8,640 SF
      300, Lincoln Ave, WA
      View Details
    • Value Estimation
      $265,000
      567 SF

      21607 Mtn Hwy Hwy

      MINI-WAREHOUSE, STORAGE • 567 SF
      21607 Mtn Hwy Hwy, Eh-31, WA
      View Details

    Similar Nearby for Sale

    • $2,550,000
      16,000 SF

      Two Light Industrial Warehouses

      Two 8,000 SF light industrial warehouses in Tumwater, WA.
      2407 50 Ave SW, Tumwater, WA
      View Details
    • $3,850,000

      Versatile Warehouses Near Microsoft Project

      Warehouses with development potential near upcoming Microsoft project.
      623 Goose Rock Ln, Malaga, WA
      View Details
    • $4,250,000

      Improved Greenhouses and Warehouse Space

      89,000 SF greenhouses, warehouse, and heated storage on multiple parcels.
      38570 North/Devils Gap Rd/Angels Lndg, Ford, WA
      View Details
    • $699,000
      7,000 SF

      Mixed-Use Retail/Warehouse Space Available

      Mixed-use retail and warehouse space with strong tenants.
      1069 Hwy SE, Shelton, WA
      View Details
    • $1,350,000
      9,221 SF

      Agricultural Building with Rail Spur

      9,221 SF agricultural building on 2.97 acres with rail.
      17413 Hwy, Burlington, WA
      View Details
    • $1,450,000
      7,812 SF

      Industrial Building in Light Industrial Park

      7,812 SF industrial building with office space for sale.
      2803 29 Ave SW, Tumwater, WA
      View Details

    Similar Nearby for Lease

    • $1,500,000
      11,200 SF

      Spacious Warehouse with Roll-Up Door

      Large warehouse space featuring a roll-up door and ample power.
      5910 E Park St, Spokane, WA
      View Details
    • $0.76 SF/Yr
      175,000 SF

      New Class A Industrial Space

      New industrial development with excellent access to major routes.
      14545 Steward Rd Southeast, Sumner, WA
      View Details
    • Contact for pricing
      64,000 SF

      Puyallup Warehouse with Office Space

      64,000 SF warehouse with office available for lease.
      1601 Industrial Pkwy, Puyallup, WA
      View Details
    • $0.65 SF/Yr
      4,000 SF

      Warehouse Space Available For Lease

      Dock high warehouse space available for lease.
      1015 N Yardley, Spokane Valley, WA
      View Details
    • $24 SF/Yr
      18,000 SF

      Pad-Ready Flex/Industrial Building Available

      Permitted 18,000 SF flex/industrial building divisible to 2,650 SF.
      Quickstep Ct NW, Poulsbo, WA
      View Details
    • Contact for pricing
      3,867 SF

      SeaTac Industrial Park Warehouse Space

      Small warehouse space near SeaTac International Airport.
      18800-18848 13 Pl S, Seatac, WA
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1229 Chesnut St
    Spokane, WA
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.